The Central Bank of Nigeria (CBN), has formed strategic partnerships with agricultural commodity associations in the country in its effort to expand the implementation of the Anchor Borrowers’ Programme (ABP). Disclosing this in Abuja on Wednesday, the Acting Director in charge of Corporate Communications Department (CCD) at the bank, Isaac Okorafor, said the decision to […]
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World coffee exports rose to a record in the 2016-17 marketing year, International Coffee Organization (ICO) data showed on Tuesday, while inventories of importing countries rose to an eight-year high. Total coffee exports for the 2016-17 season (October-September) rose 4.8 percent to 122.45 million bags, ICO data showed. The higher global exports occurred as stocks […]
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No fewer than 20,000 soybean and maize farmers in Kaduna Sate will benefit from “Feed the Future Nigeria and Nestlé Maize Quality Improvement Partnership (M-QIP)”. This is a new partnership programme between the United States Agency for International Development (USAID), Nestlé Nigeria PLC, Volunteers for Economic Growth Alliance (VEGA) and VEGA Member Cultivating New Frontiers […]
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Nigeria has saved over $600m dollars (₦216bn) from the importation of rice from Thailand and other countries since the nation’s domestic mass production flooded the markets under the Anchor Borrowers’ Programme. The figure represents a fraction of a staggering $22bn (₦7.92tr) spent on importation of foods into the country annually prior to the advent of […]
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The Chairman, First Bank of Nigeria Limited, Mrs. Ibukun Awosika, will on Friday deliver the 20th annual lecture of the Agricultural and Rural Management Training Institute in Ilorin, the Kwara State capital. Awosika will speak on ‘Promoting agripreneurship in the green alternative: A catalyst for national security and sustainable development,’ according to a statement by […]
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The Nigeria Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL Plc) has signed a partnership agreement with two reputable Moroccan agricultural insurance and re-insurance companies, Mutuelle Agricole Marocaine D’Assurances (MAMDA) and MAMDA Reassurance in its efforts to increase the number of insured farmers in Nigeria from 500,000 to 3.8 million. The partnership is also […]
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The Bank of Agriculture (BoA) has lamented that it is being owed ₦37.4 billion out of its current loan portfolio of ₦47.2 billion by Micro, Small, Medium Enterprises (MSMEs) and large scale beneficiaries both in agricultural and non-agricultural sector. Its Managing Director/Chief Executive Officer, Kabir Mohammed Adamu stated this when he received on oversight function, […]
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Nigeria’s Central Bank, CBN, yesterday disclosed it has given out over ₦43.92 billion to active farmers under the Anchor Borrowers Programme, ABP. The apex bank, in addition has facilitated the refund of over ₦50 billion, representing excess bank charges to bank depositors whose complaints were brought to the attention of apex bank’s Consumer protection department. […]
Read More The importation of rice rate into the nation has significantly dropped by 88.4 per cent in one year, the Federal Government announced on Friday. It stated that rice importation dropped from 500,000 metric tonnes imported in 2015 to 58,000MT in 2016. The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, disclosed this to delegates […]
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Former President, Chief Olusegun Obasanjo has called on the Central Bank of Nigeria (CBN) to review the interest rate given on agricultural loans, ChannelsTv reports. Obasanjo disclosed this during an entrepreneurial programme in Abeokuta, the Ogun State capital. He also says the current rate will slow the pace of development in the sector. He said, […]
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In line with the Economic Recovery and Growth Plan (ERGP) and Medium Term Expenditure Framework (MTEF), Nigeria’s government has articulated and identified 10 key prioritized projects set to double productivity and improve access to export markets in a sustainable manner. Minister of Agriculture and Rural Development, Chief Audu Ogbeh, who disclosed this at Nigeria’s Agricultural […]
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Nigeria’s agri-business in the sorghum cultivation is now amongst world’s leading position at number two after the United States of America, USA, which is the number one world’s leading producer. Vanguard inquiries showed that the world sorghum production is forecast at 59.34million metric tonnes in 2017/18. A breakdown of the data, obtained from the United […]
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