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The Central Bank of Nigeria (CBN) says it disbursed 2.83 billion dollars to critical sectors of the economy between December 2016 and January 2017. Mr Isaac Okorafor, the Acting Director, Corporate Communications Department of CBN, made this known in a statement on Thursday in Abuja. He said that manufacturing, raw materials and agriculture topped the […]
Despite ongoing declining ability of Nigeria to earn foreign exchange from the mono-commodity – oil, the nation has continued to waste billions of foreign exchange in the importation of fish it has comparative advantage to cultivate locally. Audu Ogbeh, minister of agriculture and rural development, recently disclosed that “Federal Government spends a whopping $700 million […]
The government of India has indicated interest in Nigerian farmers to export pigeon pea worth $100 billion to the nation, National Coordinating Director, Nigeria Agricultural Quarantine Service (NAQS), Dr. Vincent Isegbe has said. Isegbe said the Federal Government got the offer after conducting its Pest Crop Survey (PCS) for some agriculture commodity in conjunction with […]
I remember it was one Saturday morning in Decenber 1972 that my father said I should get ready to go to farm with him. I was seven and had hitherto been spared the assignment. My brothers, Uncle Agbo, who drove the family’s Peugeot 304, and Brother Dennis, my father’s Steward were already in the vehicle. […]
The federal government has said that the Nigerian economy is already on its way out of recession. The government based it’s assertion on the 8-fold over subscription of its recent Eurobond (orders in excess of US$7.8 billion compared to a pre-issuance target of US$1bn), which the government posits has demonstrated strong market appetite for Nigeria, […]
In line with the focus of the federal government on making agriculture a key anchor of economic diversification, the Nigerian Incentive Based Risk Sharing for Agricultural Lending (NIRSAL) in partnership with the Nigerian Railway Corporation (NRC) has unfolded a scheme to reduce the cost of transporting grains from the North to the South by over […]
The Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL), says it will establish a 300 million dollar agribusiness loan project for young farmers across the country. NIRSAL is an arm of the Central bank of Nigeria (CBN) that provides agribusiness investments credit risk guarantees to help drive economic development through agriculture. The organisation also […]
In a bid to make Nigeria self-sufficient in food production, the Dangote group is investing heavily in Dangote Rice, one of its subsidiaries in Nigeria. The group is set to launch a multi-million naira 25,000 hectares of rice outgrower scheme in Sokoto, North-west of Nigeria with a prospect of hundreds of employment opportunities for the […]
The Academic Staff Union of Research Institutions (ASURI) has called on the National Assembly to organise a symposium for all research institutes in Nigeria to proffer solution to the nation’s economic recession. ASURI’s Secretary-General, Dr Theophilus Ndubuaku, made the call while speaking with newsmen during the union’s protest at the National Assembly on Wednesday in […]
The Federal Government at its weekly Federal Executive Council Meeting chaired by the Acting President Professor Yemi Osinbajo on February 1 announced that it had constituted a task force on raising food prices with a view to address the agonizing food prices Nigerians are grappling with. It is of note that prices of food items […]
Nigerians are gradually coming to accept that things really have changed in their country. The days of lucre and easy money fuelled by petrodollars are behind us. The aimless swagger has been replaced by a renewed sense of purpose and the need to produce in order to survive. No wonder agriculture seems to be the […]
The humanitarian crisis in northeastern Nigeria remains severe, with aid agencies reporting uneven progress. In areas they have been able to access, relief organizations say they have successfully reduced malnutrition. But in other areas still cut off by insecurity, they fear the worst. Rainy season is coming in northeastern Nigeria, and aid agencies are worried. […]
Integration of the Southwest region through joint security network to enhance socio-economic development as well as adoption of a uniform education curriculum to address declining moral standards and sports formed the kernel of a regional governors’ meeting yesterday in Ado Ekiti. The state chief executives agreed to make it a matter of compulsion to monitor […]
The African Cassava Agronomy Initiative in 2016 established 563 trials across Nigeria and Tanzania to help unlock the agronomy of cassava. The trials were part of the broader initiative by the research community led by the International Institute of Tropical Agriculture (IITA) with its international and national partners to increase the productivity of cassava and […]
Kwara State government says the increasing rate of youth unemployment in Nigeria now stands at 24 percent. Saka Babatunde, senior special assistant (SSA) to Governor Abdulfatah Ahmed on youth empowerment, said this yesterday in Ilorin, at a day sensitisation workshop. The workshop titled: “Business Conceptualisation and Planning to Access Local and Foreign loans and Grants […]