FMCG

Cashew association calls for policies to promote industry

The newly elected president of the National Cashew Association of Nigeria (NCAN) Mr Ojo Ajanaku, wants the Federal Government to enact policies that would promote the cashew industry.

Ajanaku made the call in an interview with the News Agency of Nigeria in Abuja, on Monday.

He said: “At the moment there is no law to guide the import and export of cashew as a raw material from Nigeria.’’

He added that it was important for the country to have policies regulating the cashew industry in order to save it from exploitation by foreigners.

Nigerians now consume local rice worth ₦1.2b daily –RIFAN

The Rice Farmers Association of Nigeria (RIFAN) says Nigerians now consume rice worth N1.2 billion daily.

The President of the Association, Aminu Goronyo, disclosed this while addressing newsmen on Wednesday in Abuja.

Goronyo explained that from 2015 till date, there was no official exchange of currencies for rice importation in to the country as it was in the past.

Palm Oil, a leading Foreign Exchange

The National Palm Produce Association of Nigeria (NPPAN) says the country will benefit a lot from Crude Palm oil (CPO) as a leading foreign exchange earner with its price now 500 dollars per tonne against 426 dollars of crude oil.

The association disclosed this in a statement signed by its National President, Henry Olatujoye, in Ibadan.

NPPAN said, “The current domestic market value of palm oil is about N400 per litre, while that of Premium Motor Spirit (PMS) otherwise called petrol remains N145, just as diesel is N210 and kerosene is N250.

Association secures 1million Euros support to improve livestock business

The Association for Promotion of Livestock Production in Sahel and Savannah (APESS) has secured one million Euros support from European Union to improve livestock business in Sokoto, Katsina and Kebbi states, all in Northern Nigeria.

Dr Ardo Aliyu, its National Co-ordinator, told newsmen in Sokoto on Monday that the grant would be used to embark on a project tagged “APESS-PAMOBARMA PROJECT”.

Nigeria spends $500m annually on palm oil importation –CBN

The Governor, Central Bank of Nigeria (CBN) Mr Godwin Emefiele on Monday said that over five hundred million dollars was being spent annually on importation of palm oil.

Emefiele said this at a stakeholders’ meeting on the Palm Oil Value Chain held in Abuja.

The meeting was attended by the Governors of Akwa Ibom, Edo and Abia.  Also, the managers of Dangote Farms, Flour mills, United Food Industries and Dufil Frima Foods Plc, among others were at the meeting.

Cashew Exporter wants Storage Facilities at Seaports

A cashew nuts exporter, Mathew Obot, has appealed to the Federal Government to provide storage facilities at the country’s seaports to enhance preservation of commodities before export.

Obot made the appeal in an interview with the News Agency of Nigeria last Friday in Lagos.

He said that the absence of such facilities at the country’s ports was having negative bearing on export of produce and was discouraging many people from continuing with produce trade.

Standard Organization drafts new guidelines for indigenous food

The Standard Organization of Nigeria (SON) has coordinated the drafting of five new standards on indigenous foods to promote agriculture.

The five standards are packaged millet for pap, corn pap powder, sorghum powder for pap, and Fonio flour, Acha flour.

The initiative was designed to boost agriculture, the bedrock of the economic diversification agenda of Nigeria.

SON also promotes the application of research and technology to boost the production of foods for local consumption and export.

Traders sensitise Nigerians on importance of consuming locally grown food

The National Association of Nigerian Traders (NANTS) has urged Nigerians to shun the patronage of imported food items and to promote the consumption of locally grown food.

Mrs Ruth Agbo, NANTS National woman leader, made the appeal at a campaign against ‘Illegal Importation of Foods and Indiscriminate use of chemical on food items’, in Abuja.

She said it had become necessary to create awareness on the importance of consuming locally grown food in the country.

Nigeria, Brazil Launch $1.1b Agricultural Programme

Nigeria and Brazil have launched a US$1.1billion Agricultural mechanisation programme that covers the entire Agricultural value chain.

Vice President Yemi Osinbajo launched the initiative, tagged “The Green Imperative” at an event attended by the Braizilian Ambassador to Nigeria, Ricardo Guerra de Araujo with four Nigerian governors, ministers and other government officials at the Banquet Hall of the Presidential Villa, Abuja.

IFAD to pump $100m into Nigeria’s agricultural sector

The International Fund for Agricultural Development (IFAD) has set aside $100 million for investment in Nigeria in 2019 after the general election.

The Minister of State for Agriculture and Rural Development, Sen Heineken Lokpobiri, at the weekend, commended Nigerian farmers over wealth creation and increased participation in pilgrimages under the Buhari-led administration.

Pages

myfinancialintelligence.com