The National Cashew Association of Nigeria has said that cashew production in 2018 may increase by 10 per cent over the 2017 volume. The President, NCAN, Mr. Tola Faseru, told our correspondent that production increased from 175,000 metric tonnes in 2016 to 220,000MT in 2017, adding that the projection for 2018 was 242,000MT. He said […]
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Sesame seed production has the potential to generate about ₦180 billion in four months if fully tapped, National President, National Sesame Seed Association of Nigeria (NSSAN), Alhaji Sherif Balogun, has said. Balogun, said sesame seed production could also provide employment to 900,000 youths annually, sayng that “what is needed is between ₦60,000 and ₦70,000 to cultivate […]
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Inclement weather occasioned by the harmattan haze has forced many domestic carriers to cancel flights from the Lagos Airport into Port Harcourt, Enugu, Calabar, Uyo, Benin, Warri, Asaba , Ibadan and Ilorin. The harmattan haze resulting in poor visibility is preventing airlines from operating flights into airports less than 800 meters approved weather minima by […]
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The President, Nigeria Agribusiness Group (NABG), Alhaji Sani Dangote, has called for the passage of the Seed Bill to deal sternly with the supply of spurious seeds and fertiliser that are causing havoc to the fortunes of farmers in the state. Dangote who spoke in Lagos, said the passage of the seed bill will act […]
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The Federal Government will provide cheap funds of not more than five per cent to farmers who wants to acquire agricultural equipment and feeds. The Central Bank Governor, Godwin Emefiele, made this known on Thursday at the official launch of Mitros Ofada Rice in Abeokuta. Emefiele said the cheap funds would help conserve foreign exchange […]
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Over 12.2 million farmers have joined the rice and wheat initiative of the Federal Government, President Muhammadu Buhari has said. Buhari added that the administration’s Anchor Borrowers’ Programme, which is already a success would gradually move the country to self-sufficiency in major grains. The President spoke at the 25th edition of the Nigeria Media Merit […]
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The Minister for Agriculture, Audu Ogbeh has called on the Central Bank of Nigeria (CBN) to reduce lending rate to agriculture as is the practice in other parts of the world. He spoke at the 2017 Annual Bankers’ Committee Retreat concluded in Lagos at the weekend. Ogbeh disclosed that the average interest rate charged on […]
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President, Lagos Chamber of Commerce and Industry (LCCI), Chief Mrs. Onikepo Akande, has restated the need for Nigerian and West African farmers to use modern agricultural tools to boost food production in Nigeria and other West African countries. While giving a keynote address at the just concluded Agra Innovate West Africa in Lagos, Mrs. Akande, […]
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Indications emerged that Nigeria is expecting more than ₦240 billion as revenue from the sale of cocoa at the international market before the year runs out. Though, it was reported recently that Nigeria would see a bumper cocoa harvest in the coming season as late rains have helped boost pod production, a large chunk of […]
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The Central Bank of Nigeria (CBN) yesterday released the modalities for the operation of the ₦26.87 billion Agri-Business Small and Medium Enterprises Investment Scheme (AGSMEIS). Among other things, the scheme, approved at the Bankers Committee meeting held in February 2017, would be managed by a Special Purpose Vehicle (SPV) named Banker’s Fund Managers Limited, while […]
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The Board of Directors of the African Development Bank Group (AfDB) yesterday approved $10 million equity investment in Phatisa Food Fund2 (PFF2) to boost agriculture and nutrition across Africa. The PFF2 is a second generation Fund which builds on the success of its predecessor African Agriculture Fund (AAF), sponsored by AfDB along with other DFIs […]
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Foreigners are currently taking over Nigeria’s agricultural sector as a result of the excessively high interest rates being demanded from indigenous agriculturists by Deposit Money Banks, the Federal Government has said. It also stated that the production and sale of crude oil could not salvage the country’s fragile economy, adding that revenue generation from oil […]
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