Cashew farmers accuse Kogi of multiple taxation, obnoxious policies
Businessam Staff
May 16, 2019
The National Cashew Association of Nigeria (NCAN), Kogi State chapter has accused Kogi State Government of using all manner of taxations, harassment and intimidation to push cashew farmers and marketers out of business. The association also accused the state of milking its members with illegal levies. While addressing newsmen in Ayingba, the association said such […]
FAO launches 5-year programme framework to achieve zero hunger in Nigeria
Businessam StaffMay 16, 2019
The United Nations Food and Agriculture Organization (FAO) has launched a five-year Nigeria’s Programming Framework which is mainly targeted at achieving zero hunger in the country. Suffyan Koroma, the FAO country representative in Nigeria, said the program would actually guide FAO’s engagement with Nigeria over the next five years. Highlighting the programs, Koroma said “the […]
Singapore’s Olam to buy Dangote Flour Mills
Businessam StaffApril 24, 2019
Singapore-based commodity trader, Olam International, on Tuesday said it will buy Nigeria’s Dangote Flour Mills for an enterprise value of N130 billion ($424.9 million), as it looks to bolster its position in Nigeria’s wheat market. The deal expands Olam’s reach in the pasta market in Nigeria, as it looks to cash in on the growing […]
Rice processors to FG: Stop smugglers before they kill us
Businessam StaffApril 18, 2019
Rice processors in Nigeria have cried out to the federal government to take more urgent and drastic actions to stop pecuniary-conscious smugglers from importing expired and unhealthy rice into Nigeria all in a bid to make quick profit. The rice processors under the aegis of Rice Processors Association of Nigeria, RIPAN, made the call shortly […]
Edo, NIRSAL, Sterling Bank partner on mechanised farming
Businessam StaffApril 3, 2019
Building on the strides made in the agricultural sector in the state, the Governor Godwin Obaseki-led administration has concluded plans on a partnership with the Nigeria Incentive Based Risk Sharing System for Agricultural Lending (NIRSAL) and Sterling Bank on the development of at least 1500 hectares of farmland in different locations across the state. Philip […]
Local food item prices flat in August entry
Temitayo AyetotoAugust 6, 2018
Prices of local food items were generally flat in the week opening August with key items like palm oil, tomatoes, flour, yam and sugar among others relaxed. Palm oil maintained its stance at N12, 500 per 25 litre, flour N11,000 per 50 kilogramme, rice N16,000 per 50 kilogramme, sugar N14, 900 per 50 kilogramme and […]
Sugar price decline to persist on growing global glut
Temitayo AyetotoAugust 6, 2018
Decline in sugar prices will persist with sharp losses expected by year end as a larger than expected supply surplus weighs on the market, a news service survey has shown. Prices were seen recovering slightly from the three-year lows hit last Wednesday, but the market is still on course to post an overall steep decline […]
How diamonds fund Zimbabwe’s secret police
Businessam StaffSeptember 18, 2017
Zimbabwe’s government is using money earned from diamond exports to fund its Central Intelligence Organisation, blamed for a raft of human-rights abuses as it’s helped to keep President Robert Mugabe in power since 1980, Global Witness said. Diamonds dug from the Marange fields in eastern Zimbabwe are channeled through Dubai, Belgium and Mozambique by a […]
Good H1 for shareholders of Union Bank, Zenith Bank, Dangote Flour, Champion Breweries, but not so for Julius Berger
Businessam StaffJuly 27, 2017
Nigeria’s half year earnings season got on the way Thursday with a deluge of companies announcing their audited and unaudited earnings for the 2017 financial year to June. Five companies monitored for this report showed a mixed bag of numbers, but in terms of half year profit only Julius Berger reported a loss while Zentih […]