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Dangote sells Nigerian Noodle Plants to Rival for $12m

Dangote Noodles Limited, a unit of Nigerian company Dangote Flour Mills, has sold two production lines to rival pasta maker De United Foods Industries for 3.75 billion naira ($12.26 million), the company said on Tuesday.

De United said it has signed an agreement with Dangote Noodles to buy plants at its Ikorodu and Calabar factories. It would also buy stock worth 383.94 million naira, Reuters reports.

The deal comes after Dangote sold a small stake in its cement business to foreign investors in a one-off stock market deal valued at 27 billion naira.

Bio-fortified Food Varieties Released in Nigeria

Eighteen bio-fortified varieties comprising six vitamin A cassava, eight vitamin A maize, two orange sweet potato and two iron and zinc sorghum, which are bred conventionally, have been released officially in Nigeria.

Dr Paul Ilona, the Country Manager of Harvestplus, an international agricultural organisation, made this known in an interview with the News Agency of Nigeria on Sunday in Ibadan.

“Over two million farmers are estimated to be growing them now,” he said.

According to him, nutritious foods are of immense importance for good health.

Adesina’s Agric Fund for African Youth Balloons to $600K

African Development Bank President Akinwumi Adesina’s agripreneur fund to assist African youths, has increased to $600,000.

Adesina last week after winning the 2017 World Food Prize in Des Moines, Iowa, said he was dedicating the $250,000 cash prize to set up a fund fully dedicated to providing financing for the youth of Africa in agriculture to feed Africa.

Motivated by the 2017 World Food Prize Laureate’s decision, donors have made additional contributions to the fund.

Cashew Nut, Sesame Seeds, Forex Earners for Nigeria

Three agricultural products –soya beans, cashew nut and sesame seeds are turning big export earners for Nigeria, as economic policy makers attempt to wean the country away from crude oil.

The three products, along with coffee, rubber, kolanuts, palm kernel, cotton, kolanut, ginger, timber, shrimps, were showcased as exportable goods by the Minister of Budget and National Planning, Senator Udoma Udo Udoma, at a presentation at the National Economic Council meeting in Abuja on Thursday.

AfDB, Brazil to Groom African Youth in Cassava Processing

The African Development Bank (AfDB) and the Brazil-Africa Institute (BAI) have set a machinery in motion to mentor African youth in cassava processing.

A statement by Mr Emeka Anuforo, AfDB’s Communications Officer, said the mentorship was launched under the Youth Technical Training Program (YTTP).

He said that the initiative aimed at training young African professionals in research and technology transfer and contributing to local capacity development.

BOA, NIPOST to Support 5 million Farmers

The Bank of Agriculture (BOA) and Nigeria Postal Service (NIPOST) are collaborating to provide financial services to five million farmers across the country over the next two years.

Managing Director of BOA, Kabir Adamu, made the disclosure on Tuesday in Kaduna after the bank signed a Memorandum of Understanding (MoU) on Policy and Multi-Sector partnership with a consultancy firm, e Worldwide Group.

Cocoa Output seen Rebounding in 2017/18

Nigeria should see a bumper cocoa harvest in the coming season as late rains have helped boost pod production, the head of the cocoa association said on Thursday.

Sayina Riman, president of the Cocoa Association of Nigeria (CAN), expects output for the new season which starts in October to hit between 300,000 tonnes and 320,000 tonnes, up sharply from the season just ended which was blighted by poor weather.

₦30b Poultry and Feed Mill Inaugurated

President Muhammadu Buhari on Tuesday inaugurated the N30 billion Integrated Feed Mill, Hatchery and Breeder Farm in Kaduna.

Middle East Olam International Business Head, Mr. Vinod Kumar Mishra, had earlier said that when inaugurated, the multi-million dollar investment would utilise around 180,000 tonnes of corn and 75,000 tonnes of soya beans for its feed production.

Mishra said the company had the capacity to produce 360,000 tonnes of animal feeds every year.

He said the company would also produce 1.6 million day-old-chick every week.

Farmers want FG to Suspend Importation of Maize

The Nigeria Farmers Group and Cooperative Society, on Tuesday, urged the Federal Government to set a timeline to ban the importation of maize into the country.

The group’s National Coordinator, Mr Redson Tedheke, said in an interview with the News Agency of Nigeria in Abuja that the suspension of the import would protect local farmers and encourage massive production of the commodity.

According to him, unchecked importation of maize remains a major threat to local production and President Muhammadu Buhari’s agricultural revolution drive.

Farmers Task FG, States on Provision of Storage Facilities

With the onset of the harvest season in some parts of the country, farmers have urged the federal and state governments to provide adequate storage facilities, to prevent wastage.

A survey on the prices of foodstuffs conducted by the News Agency of Nigeria (NAN) in the South-West, showed that the harvest of produce had forced down prices.

The farmers, who spoke with NAN correspondents, said that they were faced with the challenge of storage facilities for surplus produce.

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