Agriculture

Obaseki Launches Agric Cluster To Boost Food Sufficiency

Obaseki Launches Agric Cluster To Boost Food Sufficiency

Agriculture, Business, Inside, News
The Edo State Governor, Mr. Godwin Obaseki, has launched the Edo Food and Agriculture Cluster, Ehor, (Edo-FAC), kick-starting a knowledge-driven food sufficiency plan, targeting over 3,000 farmers in Ehor, Uhunmwode Local Government Area of the state, with the full complement of an agricultural training center in the area. Speaking at the launch of Edo-FAC, in Ehor, the governor, who was represented by his Special Adviser on Political Matters, Chief Osaro Idah, said the cluster will address the challenges faced by farmers in the area, noting that the state government is committed to exploiting agriculture and providing avenues to train farmers to boost their knowledge, improve their farm yields and enhance their livelihood. He added that Edo-FAC will employ 200 people, and is targeted a...
CBN Disburses N615bn To Farmers

CBN Disburses N615bn To Farmers

Agriculture, Business, Inside, News
The Central Bank of Nigeria (CBN) has disclosed that as at August 20 2018, the total amount released under the Commercial Agriculture Credit Scheme (CACS) to participating banks for disbursement since the inception of the scheme is N615.43 billion. The fund was for a total 568 projects. In addition, a total of N499.22 million was guaranteed to 4,172 farmers under the Agricultural Credit Guarantee Scheme (ACGS) in August 2018. The amount represented a respective increase of 32.9 per cent and 7.8 per cent above the levels at the end of July, 2018 and the corresponding period of 2017. The CBN disclosed this in its monthly report for August 2018. Sub-sectoral analysis showed that food crop obtained the largest share of N318.50 million (63.8 per cent), guaranteed to 3,345 beneficiaries; l...
Uncertainty Over Inflation Recovery Despite Improved Food Harvest

Uncertainty Over Inflation Recovery Despite Improved Food Harvest

Agriculture, Business
Possibilities of the nation witnessing a downward inflationary trend in the fourth quarter remain uncertain as widespread flooding incidence reported across food producing states and rising energy prices may further put pressure on the consumer price index. According to the latest data from the National Bureau of Statistics (NBS) yesterday, the consumer price index, which measures inflation, stood at 11.28% in September from 11.28% recorded in August on a year-on-year basis. Specifically, inflation sustained uptick for the second consecutive month in September after 18 consecutive months of decline. Experts at Cordros Capital expressed optimism that the ongoing main harvest in the North and South to further exert downward pressure on food prices as supplies continue to flood the mark...
Edo Launches Agric Cluster To Boost Food Sufficiency

Edo Launches Agric Cluster To Boost Food Sufficiency

Agriculture, Inside, News
The Edo State Government said it had begun a knowledge-driven food sufficiency plan to address the challenges faced by farmers, through training in good agricultural practices. Governor Godwin Obaseki stated this at the launch of the Edo Food and Agriculture Cluster in Ehor, Uhunmwonde Local Government Area of the state, according to a statement by his Special Adviser on Media and Communication Strategy, Crusoe Osagie. According to the statement, the cluster, involving over 200 farmers, has the full complement of an agricultural training centre in the area. The governor, who was represented by his Special Adviser on Political Matters, Chief Osaro Idah, explained that the state government was committed to exploiting agriculture and providing avenues to train farmers to boost their knowle...
FG Working To Unlock Full Potential in Agriculture Sector, Says Ogbeh

FG Working To Unlock Full Potential in Agriculture Sector, Says Ogbeh

Agriculture, Business, Inside, News
The Minister of Agriculture and Rural Development, Chief Audu Ogbeh yesterday said that his ministry is mapping out key constraints in the agricultural value chain- from production to consumption-in order to unlock the full economic potentials in the sector. He however, said that effective collaboration was required among government, the private sector and development partners to achieve the global target of “zerohunger” by 2030. He said that this is crucial especially at a period when the impact of climate change had proved devastating on food production and food security world-wide, adding that concerted efforts are needed to fight hunger, extreme poverty and malnutrition.  Speaking at the 2018 World Food Day Walk Sensitisation programme, themed:”Our Actions are our Future- A ZeroHunge
Sustainable Agro Export Will Boost Economy, Says NEPC

Sustainable Agro Export Will Boost Economy, Says NEPC

Agriculture, Inside, News
The Nigerian Export Promotion Council (NEPC) says sustainable export of local commodities will boost the country’s economy. The South-South Regional Coordinator of the commission, Mrs. Azuka Ikejiofor, who stated this in Port Harcourt, Rivers State, during a one-day stakeholders export interactive forum on “Exporting Non-Oil Products From Nigeria,” stressed that the country is a major resource centre of raw materials for foreign countries, stressing that increase in the output of agricultural products and other productive base materials would contribute to the national Gross Domestic Product (GDP). To achieve the target, Ikejiofor called for more focus on agriculture through empowerment of farmers. According to her: “The way to revamp the economy is to diversify it through product
American Firm Partners YOTSI on $25m Farm in Osun

American Firm Partners YOTSI on $25m Farm in Osun

Agriculture, Inside, News
An American company, Cade Creek International, Colorado, United States, in partnership with a non governmental organisation, Youth Off The Streets Initiatives (YOTSI), is setting up a $25m farm in Ifon, headquarters of Ifon Orolu Local Council Area of Osun State. Announcing the partnership during the presentation of Memorandum of Understanding (MoU) by all the parties, at the palace of Olufon of Ifon Orolu, Oba Almaroof Magbagbeola, the Chief Executive Officer of Case Creek International, Patrick Alley, said when fully operational, the farm would create over 6, 000 direct jobs. Alley, who told newsmen he received spiritual directive to come to Africa to help provide jobs and add value to the living of many people, said irrigation specialists would be brought from the US, adding that
Farmers, Agro-industrialists, Others Demand Simple Procedures in Agric Financing

Farmers, Agro-industrialists, Others Demand Simple Procedures in Agric Financing

Agriculture, Inside, News
Farmers, industrialists and financial experts in the agro-allied industries have called on the Federal Government to simplify processes and requirements of accessing agricultural financial facilities. They hinged the call on the layers of hurdles that unsophisticated farmers are made to go through while applying for loans as individuals or cooperatives. Though the Central Bank of Nigeria (CBN) recently announced a new financing regime of single digit interest rates to farmers, agro-industrialists and processors, the processes and requirements appear cumbersome. Olumide Ayinla, Oyo State chairman of the All Farmers Association of Nigeria (AFAN), while speaking with The Guardian, lamented that it was not easy to access the loans of the Central Bank of Nigeria (CBN) and the Anchor Bo...
84,000 Lose Jobs as 16 Cocoa Companies Go Under

84,000 Lose Jobs as 16 Cocoa Companies Go Under

Agriculture, Inside, News
Over 84,000 Nigerians have lost their jobs in the cocoa value chain industry while about 16 companies have folded up in the last 10 years. The National President of the Cocoa Association of Nigeria, Mr Sayina Riman, exclusively revealed this to The Guardian, saying out of over 20 cocoa processing companies in the country, about 16 have folded up, sending over 84,000 Nigerians back to the labour market. “In the past 10 years, we have lost more than 14 or so processing companies. We believe that those companies would have contributed a lot into the economy. And we believe that these companies on the average were employing more than 600 and above managerial and special skilled services per company, and with the multiplier effects, about 4,000 to 6,000 persons would be servicing the enti
Reviving Nigeria’s Agricultural Sector

Reviving Nigeria’s Agricultural Sector

Agriculture, Business, Inside, News
In 1960 when Nigeria gained Independence, agriculture was the mainstay of the nation’s economy, providing the largest portion of foreign exchange inflow into the country. Moreover, according to official statistics, it contributed about 63 per cent to the nation’s Gross Domestic Product (GDP). The incomes were derived from the export of major cash crops as rubber, cocoa, palm oil, cashew nuts, groundnut and cotton, among others. However, the discovery of oil shifted government’s attention away from the sector. But a bold attempt to revive agriculture started in 1976 when the then military Head of State, Major-General Olusegun Obasanjo, launched Operation Feed the Nation. But instead of reforming it, his successor, President Shehu Shagari, quickly dumped it in preference of the Green