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Standard Organization drafts new guidelines for indigenous food

Posted by Finintell on Wednesday, 6 February 2019

The Standard Organization of Nigeria (SON) has coordinated the drafting of five new standards on indigenous foods to promote agriculture.

The five standards are packaged millet for pap, corn pap powder, sorghum powder for pap, and Fonio flour, Acha flour.

The initiative was designed to boost agriculture, the bedrock of the economic diversification agenda of Nigeria.

SON also promotes the application of research and technology to boost the production of foods for local consumption and export.

Traders sensitise Nigerians on importance of consuming locally grown food

Posted by Finintell on Sunday, 20 January 2019

The National Association of Nigerian Traders (NANTS) has urged Nigerians to shun the patronage of imported food items and to promote the consumption of locally grown food.

Mrs Ruth Agbo, NANTS National woman leader, made the appeal at a campaign against ‘Illegal Importation of Foods and Indiscriminate use of chemical on food items’, in Abuja.

She said it had become necessary to create awareness on the importance of consuming locally grown food in the country.

Nigeria, Brazil Launch $1.1b Agricultural Programme

Posted by Finintell on Thursday, 17 January 2019

Nigeria and Brazil have launched a US$1.1billion Agricultural mechanisation programme that covers the entire Agricultural value chain.

Vice President Yemi Osinbajo launched the initiative, tagged “The Green Imperative” at an event attended by the Braizilian Ambassador to Nigeria, Ricardo Guerra de Araujo with four Nigerian governors, ministers and other government officials at the Banquet Hall of the Presidential Villa, Abuja.

IFAD to pump $100m into Nigeria’s agricultural sector

Posted by Finintell on Monday, 24 December 2018

The International Fund for Agricultural Development (IFAD) has set aside $100 million for investment in Nigeria in 2019 after the general election.

The Minister of State for Agriculture and Rural Development, Sen Heineken Lokpobiri, at the weekend, commended Nigerian farmers over wealth creation and increased participation in pilgrimages under the Buhari-led administration.

Africa Agribusiness will hit $1trn by 2030

Posted by Finintell on Saturday, 10 November 2018

With its vast agricultural potential, Africa’s agribusiness sector is predicted to reach $1 trillion by 2030.

Leaders of the continent’s top agribusiness companies shared their thoughts on the future of the industry at the Africa Investment Forum holding in Johannesburg in South Africa.

As project sponsors, borrowers, lenders and investors also gathered at the Forum to make deals on investment opportunities.

Agribusiness will become the ‘new oil” on the continent, African Investment Forum participants said, fueling the motor of inclusive growth.

Farmers to Generate ₦5.85b Annually from Rubber Plantations

Posted by Finintell on Tuesday, 10 April 2018

Farmers in Southern Kaduna are expected to generate N5.850 billion annually from Rubber plantation, according to Dr. Wuranti Valla, an official of the Rubber Research Institute of Nigeria (RRIN), Benin.

Valla, a Chief Research Officer in the institute that 52 farmers, including the state government, had cultivated about 52 hectares of rubber plantations in six local governments.

NEXIM Bank, Ondo State to Partner on Cocoa Export

Posted by Finintell on Wednesday, 21 March 2018

Nigerian Export-Import Bank (NEXIM) is seeking partnership with Ondo State on cocoa projects and other commodity exporters to boost export trade, Mrs Stella Okotete, Executive Director, Business Development of the bank, has said.

In a statement in Abuja on Wednesday, Mr Tayo Omidiji, Head, Strategy and Communication of NEXIM, said Okotete spoke when the bank’s management team visited business operators and major projects in Ondo State.

She said the visit was aimed at ensuring partnership that would drive export in the state.

New Excise Duty Rates Approved for Alcoholic Beverages, Tobacco

Posted by Finintell on Monday, 12 March 2018

President Muhammadu Buhari has approved an amendment to the excise duty rates for alcoholic beverages and tobacco with effect from Monday, June 4, the Minister of Finance, Mrs Kemi Adeosun, has said.

In a statement in Abuja on Sunday, Adeosun said the President also granted a grace period of 90 days to manufacturers of the products before the commencement of the new duty regime.

She said the new excise duty rates would spread over a three-year period from 2018 to 2020 in order to moderate the impact on prices of the products.

Rice Farmers get CBN Loan

Posted by Finintell on Thursday, 8 March 2018

No fewer than 1,500 rice farmers in Daura, Katsina State, have received various farming implements under the phase 11 of the Central Bank of Nigeria Anchor Borrowers Scheme, an official has confirmed.

Nura Baure, Chairman, Rice Farmers Association of Nigeria (RIFAN), Daura chapter, disclosed this in Daura on Thursday during the distribution of the farming implements to registered farmers.

He said that each farmer had received two bags of fertilizers, two bottles of herbicides and a water pumping machine.

BOA Disburses ₦262b to Farmers

Posted by Finintell on Wednesday, 28 February 2018

The Managing Director, Bank of Agriculture (BOA), Kabir Adamu, says the bank has disbursed N262 billion to 140,000 farmers through Anchor Borrower Scheme in three years.

Adamu, who disclosed this while speaking with the News Agency of Nigeria on Wednesday in Sokoto, said the disbursement was to support farmers and boost agriculture in the country.