FMCG

Anchor Borrowers’ Programme: Emefiele Assures States of Support

The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has assured that the Bank would support State Governments interested in keying into the Anchor Borrowers’ Programme (ABP), which the CBN initiated in collaboration with the Federal Ministry of Agriculture and Rural Development.

He gave the assurance in Anaku, Anambra State recently during an assessment tour of Coscharis rice farms to ascertain the impact of the N2 billion credit granted the farm under the CBN Anchor Borrowers’ Programme.

‘98% of Nigeria’s Dairy Products Imported’

The Chairman, Dangote Group, Aliko Dangote, says 98 per cent of all dairy products consumed in the country are imported.

Dangote made this assertion in Lagos on Monday while addressing some students of the Executive MBA class of the Lagos Business School who visited the Dangote Petrochemical Refinery.

He said that the nation was at the risk of hunger in the next few years if the mass food importation was not checked.

“Ninety-eight per cent of all the milk and dairy products we consume in Nigeria are imported.

Recession: Agriculture, Mining Way Forward

The Director Centre for Agriculture and Pastoral Research of the Usmanu Danfodio University, Sokoto, Prof. Lawali Abubakar, has called for the diversification of the economy through huge investment in agriculture and mining.

Abubakar told the News Agency of Nigeria in Sokoto at the weekend that diversification of the economy in the two sectors could tackle poverty and the economic challenges bedevilling the county.

FG Approves ‘Green Alternative’ Policy towards Diversified Economy

The Federal Executive Council (FEC) has approved the implementation of the ``Green Alternative’’, a road map towards diversifying Nigeria’s economy.

The Minister of Agriculture, Mr Audu Ogbeh, made this known on Wednesday in Abuja while briefing State House correspondents at the end of the Council’s meeting, which was presided over by President Muhammadu Buhari.

CPC Investigates Nigerian Breweries over Alleged ‘Health Benefits’ of Beer

The Consumer Protection Council (CPC) has commenced investigation into the veracity of the recent widely publicised claims of the Nigerian Breweries Plc (NB) regarding the health benefits of beer consumption, alleging that the claims are capable of luring unsuspecting consumers into unwholesome consumption of the product.

Nigerian Breweries had in media reportage of its recent symposium held in Lagos early July 2016 asserted that consumption of beer has many nutritional, health and therapeutic benefits.

Agric College Partners Foreign Investor on Cassava Production Enterprise

The Provost, Federal College of Agriculture, Akure, Dr Adeola Odedina, says the college is partnering with foreign investors to creating millions of value chain job opportunities in Cassava Production.

Odedina disclosed this in Akure on Wednesday at the occasion of Cassava Adding Value for Africa Phase ll (CAVA ll) Project's International Farmers' Field Day on cassava production enterprise.

Farmers Urge Govt. Agencies to Improve on Storage Facilities

Farmers have urged relevant agriculture agencies to improve on the nation's produce storage facilities to achieve the Federal Government's objectives of boosting food production.

The farmers were reacting to the inauguration of the Presidential Committee/Task Force on Rice and Wheat to facilitate its programme on self-sufficiency in food production.

Stakeholders Urge Support for Farmers to Boost Rice, Wheat Production

Stakeholders in rice and wheat production in some of the North Eastern states have urged government at all levels to give adequate support to farmers to enable them boost their production.

They told the News Agency of Nigeria in separate interviews that rice and wheat farmers in the country had the potential to feed the country and export same if given the necessary support.

Aminu Maiwada, a rice farmer in Gashua town of Yobe said that most states in the country had areas that were suitable for rice production.

Weak Pound 'Could Raise Supermarket Prices'

Supermarket prices could rise if the pound's fall continues, retail analysts have said.

According to BBC report, some 40% of food consumed in the UK is imported meaning "any long term change in exchange rates may threaten the current period of cheaper groceries," according to Kantar Worldpanel.

Online supermarket Ocado also said the weaker pound could lead to "inflationary pressure".

The pound has fallen about 11% against the dollar since the Brexit vote.

Pages

myfinancialintelligence.com