FMCG

FG Targets $8b Forex Earning Annually from Yam Export

Posted by Finintell on Friday, 23 June 2017

The Federal Government says it is targeting about eight billion dollars as annual foreign exchange from the exportation of yams to other countries if its yam export programme succeeds.

The Minister of Agriculture and Rural Development, Audu Ogbeh, said this when he received the Technical Committee on Nigeria Yam Export Programme in Abuja on Thursday.

Ogbeh said the programme to be flagged off on June 29, would enable the country earn foreign exchange from agricultural produce in order to substitute the oil and gas sector.

Quarantine Service Releases Conditions for Yam Exports

Posted by Finintell on Thursday, 15 June 2017

The Nigerian Agricultural Quarantine Services (NAQS) has released the conditions for yam exports to the U.S and UK to enable them meet international standards.

Dr Vincent Isegbe, the Coordinating Director of NAQS, told newsmen in Abuja on Thursday that the conditions were drawn up, following the consistent rejection of the country’s agricultural produce at the international market.

Cassava Bread Initiative can Generate ₦255b Annually

Posted by Finintell on Thursday, 15 June 2017

The Association of Master Bakers and Caterers of Nigeria says the revival of the cassava bread initiative is capable of injecting about N255 billion into the country’s economy every year.

Mr Joseph Ubah, the Publicity Secretary of the association, said this on Thursday in an interview with News Agency of Nigeria in Abuja.

He said that initiative, which involved the use of composite flour containing 10 per cent cassava flour, for baking bread, would discourage exportation of wheat and promote cassava production in the country.

Nigeria to Export first Consignment of Certified Yams

Posted by Finintell on Saturday, 10 June 2017

Nigeria may officially export its first consignment of certified yams to the UK and U.S. by the end of June, Chief Audu Ogbeh, the Minister of Agriculture and Rural Development, has said.

A statement by Mr. Olukayode Oyeleye, Special Assistant (Media and Communication) to the minister, said in Abuja on Friday that the Federal Government was committed to restoring Nigeria’s place in agro-commodities export market.

The market had been lost for decades as a result of poor quality control.

FG Boosts Water Scheme with $470m

Posted by Finintell on Sunday, 28 May 2017

The Federal Government has approved $470 million for the execution of the Greater Abuja Water project, the Minister of Federal Capital Territory, Muhammed Bello, said on Saturday.

Bello made this known during a media briefing as part of events to commemorate two years in office of the Federal Government under President Muhammadu Buhari.

He said that the Federal Executive Council (FEC) had approved the money for the project,

The minister explained that the Karshi water works would soon start to boost water supply in the FCT.

ECOWAS Urges FG to Invest more in Agriculture

Posted by Finintell on Monday, 22 May 2017

The Economic Community of West African States (ECOWAS) has called on the Federal Government to increase its investment in agriculture to enable Nigeria to regain its place in the sector.

Principal Programme Officer on Agriculture, ECOWAS, Mr Ernest Aubee, made the call in an interview with the News Agency of Nigeria on Monday in Abuja.

Aubee said that more investment in agriculture would attract and encourage more youths and women into the venture.

'Farmers Need Credit Facilities'

Posted by Finintell on Monday, 15 May 2017

The Dean, Faculty of Agricultural Sciences, National Open University of Nigeria (NOUN), Prof. Nda Mundi, says that farmers need affordable credit facilities in order to enhance their productivity.

Mundi, who made this call while delivering the 11th Inaugural Lecture of NOUN in Abuja, said such facilities would address the problem of poverty especially in rural area.

The theme of lecture is “Agricultural Innovations and Rural Poverty Alleviation in Nigeria.”

Agriculture: Five States Get 82% World Bank Fund

Posted by Finintell on Tuesday, 9 May 2017

The World Bank says it had disbursed over 82 per cent of funds for the pilot Commercial Agriculture Development Project (CADP) scheme in Nigeria to five states.

The Bank’s Task Team Leader, Dr Shehu Salau, made this known to journalists at the opening of the 14th CADP implementation support mission and wrap-up meeting which opened in Kaduna, the News Agency of Nigeria reports.

World Bank initiated the scheme in 2009 with Kaduna, Kano, Lagos, Enugu and Cross River States participating.

BOA Disburses ₦2.4bn Loan to Farmers

Posted by Finintell on Thursday, 4 May 2017

The Bank of Agriculture (BOA) on Thursday said that it had disbursed N2.4 billion loan to farmers participating in the Central Bank of Nigeria’s (CBN) Anchor Borrowers’ Programme (ABP) in Niger.

BOA’s Managing Director, Dr Kabiru Adamu, made the disclosure when visited Gov. Abubakar Bello at Government House, Minna, the News Agency of Nigeria reports.

He said that Small and Medium Enterprises (SMEs) in the state would also benefit from the loans.

AfDB Tasks African Leaders to Invest in Agriculture

Posted by Finintell on Wednesday, 3 May 2017

Dr Akinwumi Adesina, President, African Development Bank (AfDB), says Africa must embark on agriculture industrialisation and its value chain to transform the continent’s economy.

Adeshina made the call in his goodwill message to the ongoing Feed Nigeria Summit on Wednesday in Lagos.

The theme of the summit organised by AgroNigeria is Feed Nigeria to feed Africa.

Adesina urged governments to provide incentives to food and agribusiness companies located in rural areas through establishment of staple crop processing zones.