Commodities

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Agriculture Commodities

WASCA to reward coffee promoting institutions, coffee ambassadors

Lagos, Oct. 17, 2023 – The West Africa Specialty Coffee Association (WASCA) is to present awards to coffee promoting institutions and coffee ambassadors in the country. It identified Institutions like the Cocoa Research Institute of Nigeria (CRIN) and the Nigerian Export Promotion Council (NEPC) that have been at the forefront of promoting and sustaining the production of coffee, among other commodities in the country. Some representative state Ministries of Agriculture will similarly be honoured, it said. It said they would be honoured at the 2023 WASCA World Coffee and Tea …

Business Solutions Commodities

Afreximbank urges priority to African export trading companies

New York, Sept. 25, 2023 – The African Export-Import Bank (Afreximbank) has called on African countries to prioritise the development of public and private Export Trading Companies (ETCs) to position the continent’s Small and Medium Enterprises (SMEs) to participate effectively in global trade. Kanayo Awani, Afreximbank’s Executive Vice President (Intra-African Trade Bank),made the call in an address to the Africa International Exhibition which opened Sunday on the sidelines of the United Nations General Assembly in New York   She spoke on behalf of Bank President Prof. Benedict Oramah.   Awani …

Commodities

Enugu court stops coy’s coal mining operations

Enugu, Sept. 20, 2023 – An Enugu High Court on Wednesday restrained Milhouse Energy Services and African Pits & Quarries Ltd, owners and operators of a coal mining site at Awhum in Udi council, Enugu State, from further mining in the area. The order followed the request by the state government for an order of interim injunction to restrain the operations of the companies brought by the state the Attorney General. The state government had accused the companies of environmental degradation, blasting without approval and due regulations and non-remittance of …

Agriculture Commodities

NACCIMA, WASCA to hold world coffee, tea expo  

Lagos, Sept. 19, 2023 – The West African Specialty Coffee Association (WASCA) and NACCIMA are to hold World Coffee and Tea Expo 2023 in Lagos between Oct. 23 and Oct. 24. The expo will be a global gathering dedicated to the celebration and evolution of the coffee and tea industry. According to the organisers, this year’s expo with the theme: “Exploring Circular Economy and Regenerative Coffee and Tea Agriculture,” will revolutionise our approach to these beverages. The World Coffee and Tea Expo 2023 will bring together coffee and tea enthusiasts, …

Commodities

FG to set up Nigeria Solid Minerals Corporation

Abuja, Sept. 15, 2023 – The federal government is planning to set up a solid minerals corporation interface between Nigeria and the global mining industry Dele Alake, the Minister of Solid Minerals, said this the exhibition booth of the ministry during the 21st Africa Down Under Conference in Perth, Australia.   A statement by the Ministry’s Deputy Director of Information, Alaba Balogun, quoted Alake as saying that Nigeria was now “open for business and with our ongoing reforms in the solid minerals sector.” He said Nigerian laws permitted investors to …

Commodities Oil and Gas

Oil prices firm on upbeat demand growth forecasts

London, Aug. 11, 2023 – Oil prices gained ground on Friday amid optimistic demand forecasts from the OPEC producer group and the International Energy Agency (IEA). Brent crude was up 49 cents, or 0.6%, at $86.89 a barrel at 1118 GMT, while U.S. West Texas Intermediate (WTI) crude futures were up 49 cents, or 0.6%, at $83.31. Both benchmarks have been on a sustained rally since June with WTI trading on Thursday at its highest this year and Brent hitting its highest since late January. The IEA on Friday warned that global …

Agriculture Commodities

Coffee association launches Nigerian-Canadian Coffee Exchange Corridor

Lagos, July 10, 2023 – The West African Specialty Coffee Association (WASCA) has launched the Nigerian-Canadian coffee Exchange Corridor in the country. It is an initiative to strengthen bilateral trade between Nigeria and Canada and promote the remarkable diversity and quality of Nigerian coffee to the international market.  Larry Segun-Lean, the President of WASCA, expressed his enthusiasm for the Nigerian-Canadian Coffee Exchange Corridor, saying that the initiative marked an exciting chapter in the history of Nigerian coffee. Through this partnership, we aim to share our rich coffee heritage with the …

Commodities

Bauchi State inaugurates multi-million naira kaolin processing plant

Bauchi, May 16, 2023 – Governor Bala Mohammed of Bauchi State on Tuesday inaugurated the multi-million naira Kaolin processing plant in Bagurja in Gwaram Alkaleri Local Government area of the state. During the inauguration, small scale miners were empowered with equipment for their mining activities under the economic sustainability plan of the Federal Government. Mohammed expressed appreciation to the Federal Ministry of Mines and Steel Development for finding the state suitable for siting the plant to serve the entire North-East. He was represented by the Secretary to the State Government, …

Commodities

Adeleke pledges to revive mining sector in Osun

Osogbo, April 3, 2023 – Gov. Ademola Adeleke of Osun State says he will revive the mining sector in the state as he has already stopped the forfeiture of mining licenses caused by mismanagement by the previous administration. Adeleke made the pledge on Sunday at a meeting with Obadiah Nkom, the Director General of Nigeria Mining Cadastral Agency, after the submission of the report of the state’s Solid Minerals Committee. He said that the state had about seven mining licenses across the solid mineral value chains that were almost sold …

Commodities Oil and Gas

Oil prices rise 2% on Monday on Kurdistan’s export halt

New York, March 27, 2023 – Oil prices rose by 2% early on Monday, with the U.S. benchmark up above $70 a barrel again, driven up by a halt to Kurdistan’s 400,000-bpd of crude exports and signs of easing concerns about the global banking sector. As of 10:17 a.m. EDT on Monday, WTI Crude, the U.S. benchmark, traded at $70.76, up by 2.31% on the day. The international benchmark, Brent Crude, was up by 2.04 % at $76.41.   Oil was rising at the start of the week after Kurdistan’s …