Agriculture

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Agriculture

Tinubu’s agric-mechanisation plan, others will ultimately guarantee food security – TMSG

Abuja, July 15, 2024 – The decision by the Federal government to purchase 2,000 tractors, 4,000 disc ploughs and other mechanised farming equipment is an indication of President Bola Tinubu’s commitment to delivering food security in the country in a short while. The Tinubu Media Support Group (TMSG) mde the observation in a statement signed by its Chairman, Emeka Nwankpa and Secretary, Dapo Okubanjo. The group also said the move was part of the multi-pronged approach by the Tinubu administration to stem the tide of food inflation in the country.  The …

Agriculture General News

Tinubu creates Federal Ministry of Livestock Development

Abuja, July 9, 2024 – President Tinubu has created a Federal Ministry of Livestock Development. He announced the new ministry in Abuja on Tuesday while inaugurating the Renewed Hope Livestock Reform Implementation Committee.  The setting up of the committee was sequel to the submission of a report from the National Conference on Livestock Reforms and Mitigation of Associated Conflicts in Nigeria. (GBN)

Agriculture

Cocoa Exports: Nigeria may lose $20bn if it fails to meet global standards

Abuja, July 9, 2024 – Rabiu Olowo, the Executive Secretary and Chief Financial Officer of the Financial Reporting Council of Nigeria, has advised the federal government to align with international processing and the reporting expectations on cocoa exports. He said Nigeria might lose over $20bn proceeds from cocoa exports within the next three years if it failed to align with international standards on cocoa exports. He said the loss might occur if the nation did not align with the sustainability adoption road map which will affect the processing and the …

Agriculture General News

FG suspends import duties, tariffs, taxes on food items for 150 days

Abuja, July 8, 2024 – The Federal Government on Monday announced temporary suspension of duties, tariffs, and taxes on some essential foods for 150 days. Abubakar Kyari, the Minister of Agriculture and Food Security, disclosed this at a press briefing in Abuja on Monday. He listed the affected food items to include maize, wheat, husked brown rice, and cowpeas. The minister said the move was part of the Presidential Accelerated Stabilization and Advancement Plan to achieve food security and economic stability in the country. He also said the government was …

Agriculture Money market

Nigerian, Malawian win Afreximbank-FARA research awards

Nassau (The Bahamas), July 8, 2024 – A Nigerian, Umezuruike Opara and a Malawian, Richard Mkandawire, won the inaugural Afreximbank-FARA Research, Innovation and Competence in Agriculture (AFRICA) Awards. The African Export-Import Bank (Afreximbank) and the Forum for Agricultural Research in Africa (FARA) announced the winners of the awards. The award winners were presented with their awards in Nassau, Bahamas, on the sideline of the 2024 Afreximbank Annual Meetings (AAM2024) and AfriCaribbean Trade and Investment Forum (ACTIF). The awards honour individuals, groups, or established organisations that have made outstanding contributions towards improving …

Agriculture Capital market Manufacturing/Industry Money market

U.S. GDP grinds lower in Q1

Washington D.C., June 27, 2024 – The US economy grew at a sluggish 1.4% annual rate in the first quarter of 2024, according to the Bureau of Economic Analysis’ latest estimate. This marks a significant deceleration from the robust 3.4% growth recorded in the previous quarter. This is the third estimate for Q1 GDP, incorporating more comprehensive data than previous releases. Upward revisions to nonresidential fixed investment and government spending were partially offset by a downward revision to consumer spending. The downward revision to GDP growth highlights potential headwinds for …

Agriculture

Nigeria has 30.2m agriculture households

Abuja, June 24, 2024 – Nigeria has about 40.2 million agriculture households, the National Bureau of Statistics (NBS) has reported. The NBS reported this in the latest edition of its National Agricultural Sample Census (NASC) 2022 released in Abuja on Monday. The census was conducted by the NBS in partnership with the World Bank, Federal Ministry of Agriculture and Food Security, and the Food and Agriculture Organisation of the United Nations. The report indicated that out of the 91 per cent of agricultural households that cultivated crops, 35 per cent …

Agriculture Business Planning Investment Manufacturing/Industry

Otti pledges to make Abia hub for fertiliser production

Umuahia, June 12, 2022 – Alex Otti, the Abia State Governor, has promised to make the state a hub for organic fertiliser production in Nigeria. Otti made the promise on Tuesday while receiving a group of Turkish investors who are willing set up organic fertiliser production plants in the state. He said he would do the all the needful to ensure the group achieve its objective, adding that there were enough raw materials in the state. “For us in Abia, we are very open for business. You know that when …

Agriculture General News

South-west governors to go into massive farming

Lagos, June 11, 2024 – State governors in the South-west have agreed to go into massive farming in the bid stem the current high prices of food items in the country. This is one of their resolutions issued at the end of their one-day meeting in Lagos on Monday. The governors said they had given marching orders to their commissioners of agriculture to begin the process that would lead to food security in the geo-political zone.  “On food security, the forum acknowledges the efforts of the Federal Government and decides …

Agriculture

Tomato farmers blame pest attacks for scarcity, high price of produce

Kaduna, May 30, 2024 – Tomatoes Growers Association of Nigeria says the current scarcity and hike in the price of the produce was caused by pest attacks. Mr Rabiu Zuntu, the Kaduna State Chairman of the association, disclosed this to journalists in Kaduna on Thursday. He identified the pests as ‘Tuta Absoluta,’ also known as Tomato Leaf Miner, a specie of moth in the Gelechiida pest family. It is a serious pest that attacks tomatoes in Europe, Africa, western Asia and South and Central America, with larvae causing up to 100 per cent loss …