Agriculture

Nigeria spends ₦5.8 billion on maize importation

Between April and May this year, Nigeria spent N5.8 billion ($15.2million) on the importation of maize. This is the market value of the three vessels that berthed at Rivers and Lagos ports with 70,000 metric tonnes of maize. At current global market of maize that has reached $217 per metric ton, this translates to $15.2million. […]

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Agric GDP to hit ₦21trn by 2020, annual growth of 6.92 per cent expected

China has reiterated its resolve to partner Nigeria in the implementation of the Economic Recovery Growth Plan (ERGP), especially in the area of agricultural development, saying that it has the capacity to grow the country’s agriculture Gross Domestic Product (GDP) from ₦16 trillion in 2015 to ₦21 trillion in 2020. The revelation made during a […]

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Dangote shuts factory after pests destroy tomato crop

Thousands of farmers in north contracted to grow tomatoes for a set price are shunning the crop this season after pests destroyed much of last year’s produce, leaving the processing factory set up by Aliko Dangote, Africa’s richest man, short of raw materials, Bloomberg reports. Established to process 1,200 metric tons of tomatoes each day […]

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Farmers gain from CBN’s Anchor Borrowers’ Programme

Nigeria Central Bank on Wednesday disclosed that it had disbursed a total sum of N33.34bn to 146,557 farmers across 21 states under its Anchor Borrowers’ Programme. The apex bank said this in a statement issued in Abuja, adding that farmers who accessed the facility had started repaying the loans. It said out of the total […]

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FG ordered BOA to begin recover debts

The Federal Government has inaugurated an Interim Management Board for the Bank of Agriculture (BOA), as part of efforts to restructure the bank. The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, who inaugurated the board in Abuja on Monday, directed the board to begin the recovery of loans owed by farmers and other […]

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