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Home › Commodities ›

FMARD, Biosafety Agency seal MoU on food security

Tola AkinmutimiJuly 4, 2019

By Tola Akinmutimi   The federal ministry of agriculture and rural development and the National Biosafety Management Agency (NBMA) had signed a memorandum of understanding (MoU) in order to enhance food safety in the country which is one of the major agenda of the present administration. Mohammed Bello Umar, the permanent secretary in the Ministry, […]

Nigeria saving N1.2bn daily on rice importation through CBN’s initiatives – RIFAN

Tola AkinmutimiJuly 3, 2019

By Tola Akinmutimi     The Rice Farmers Association of Nigeria (RIFAN) on Wednesday said that through the Central Bank of Nigeria’s (CBN’s) Anchor Borrowers Scheme (ABS) and other initiatives, the country had been saving about N1.2 billion daily on rice importation. Aminu Goronyo, the president of the association, who gave this hint in Abuja, said […]

EU steel industry says it faces existential crisis, urges tougher safeguards

Businessam StaffJune 27, 2019

 Senior steel industry executives on Wednesday urged the European Commission to strengthen measures to protect against a surge in imports triggered by U.S. tariffs, saying the future of the European industry was under threat, particularly in Britain. Chief executives, including from Outokumpu, Salzgitter, and a division chief at ArcelorMittal said the EU safeguard measures have […]

Nasarawa, Edo, Ogun get lion share of N5.48bn agric loans

Businessam StaffJune 25, 2019

Nasarawa, Edo and Ogun states received the highest amount of loans for agriculture among the 36 states in the country and the Federal Capital Territory under the Agricultural Credit Guarantee Scheme of the Federal Government. Latest figures from the Central Bank of Nigeria also showed that the three states made the highest amount of loan […]

Agriculture secretary says U.S. farmers are ‘casualties’ of trade war: CNN

Businessam StaffJune 25, 2019

U.S. Agriculture Secretary Sonny Perdue acknowledged that American farmers are “casualties” of President Donald Trump’s trade war with China, according to an interview broadcast on Tuesday. Perdue told CNN he did not expect a trade deal to be reached when Trump meets with Chinese President Xi Jinping this month at the G20 summit in Japan […]

Goldman says commodity returns to grow amid easing monetary policy

Businessam StaffJune 18, 2019

Returns on investing in commodities will be boosted as central banks ease monetary policy and governments take steps to offset the impact of global trade disputes, Goldman Sachs said. The investment bank said it was forecasting three-month total commodity index returns of 10% for the S&P Goldman Sachs Index and 9% returns on a 12-month […]

Cocoa farmers beg govt to construct roads in rural areas

Businessam StaffJune 17, 2019

The Cocoa Farmers Association of Nigeria has called on the federal and state governments in the country to make rural roads in cocoa-producing states in the country motorable, to ease transportation of the produce to the market. The group lamented that the poor and inaccessible road networks was one of the major challenges the farmers […]

Germany Invests €2m in Nigeria’s Rice Production 

Businessam StaffJune 5, 2019

The German Government with support from the Bill and Mellinda Gates Foundation has provided €2 million for the implementation of the second phase of the Competitive African Rice Initiative (CARI) in the country. The Programme Director of CARI, Jean-Bernard Lalannehe, disclosed this to newsmen, in Abuja on Wednesday. Lalannehe said the second phase of the […]

Nigeria spends N16bn annually on beans importation – FG

Businessam StaffApril 19, 2019

Despite being the number one producer of beans in the world, Nigeria spends N16bn annually to import the produce from neighbouring countries, the Federal Government has said. Speaking at a training for journalists organised by the Open Forum for Agricultural Biotechnology in Africa in Abuja on Thursday, Bitrus Bako, permanent secretary in the Ministry of Science […]

Kogi, 5 other states to benefit from $200m World Bank agro intervention

Businessam StaffApril 13, 2019

Governor Yahaya Bello’s agricultural drive is getting international support as Kogi, Lagos, Kano, Cross River, Kaduna and Enugu states are to benefit from the $200 million appeals project of the World Bank agro intervention. The intervention is part of measure which is aimed at enhancing agro-processing, productivity and livelihood. The project is in line with […]

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