Agriculture Banking and Finance Economy News & Reports Trade and Investments

Dangote Sugar Announces Merger Plans with NASCON, Dangote Rice to Form N553 Bn Entity

Dangote Sugar Refinery has revealed its strategic move to strengthen its market presence and capitalize on future prospects by announcing a merger with NASCON Allied Industries and Dangote Rice Limited. The announcement, made on Tuesday in a regulatory filing with the Nigerian Exchange Limited, marks a significant step towards consolidating operations and leveraging opportunities in …read more →

AFRICAReports Agriculture Banking and Finance Economy News & Reports

Development Partners Commit $30 Billion to Food Production in Africa

Development partners have committed $30 billion to boost food production in Africa over the next five years, the President of the African Development Bank (AfDB) said on Friday at the close of a summit on food security on the continent. The continent is facing its worst food crisis ever, with more than one in five …read more →

Agriculture Economy Infrastructure News & Reports Photo News Technology

Heifer, Coldhubs, Launch Solar-Powered Storage Solutions in Lagos to Enhance Smallholder Farmers

Heifer International’s sponsored agritech storage solution; ColdHubs, was yesterday formally introduced into the Lagos market with the launch of the facility for smallholder farmers and sellers of perishable farm produce at the ABAT CBD Market in Ibeju-Lekki.   The ColdHubs innovation, which is being sponsored on a large scale by Heifer International, is part of …read more →

Agriculture Economy News & Reports

Nigeria’s GDP Grows 3.4% in 2021, Driven by Non-Oil Sector

Nigeria’s Gross Domestic Product (GDP) grew by 3.98 percent in the fourth quarter of 2021, its biggest growth since 2014, according to latest data by the nation’s statistics agency. The National Bureau of Statistics (NBS) report showed that fourth quarter growth indicates a steady economic recovery accounting for an annual growth of 3.40 percent in …read more →

Agriculture Banking and Finance News & Reports Trade and Investments

NIRSAL Boosts Cocoa Exports with Credit Guarantee

The Nigeria Incentive-Based Risk Sharing System for Agriculture Lending Plc (NIRSAL) is committed to enabling Nigerian cocoa farmers to benefit from the $67 billion global cocoa market, according to its chief executive officer, Aliyu Abdulhameed. While on a tour of ADT Russet Limited, in Apapa, Lagos State, which is a beneficiary of N1.5 billion facility …read more →

Agriculture Banking and Finance News & Reports

Nigeria Commodity Exchange Starts Operations in Q4, as Partners Pledge N50BN

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has said that the revamped Nigeria Commodity Exchange (NCX) will commence operation by the fourth quarter of 2021. Emefiele who spoke at the unveiling of the 2020 wet season harvest aggregation in Ekiti State, said the regulatory bank and its partners had committed the sum …read more →

Agriculture Banking and Finance News & Reports

CBN Nudges Banks to Increase Loans to Agricultural Sector

The Central Bank of Nigeria (CBN) has said that the best way to boost food production in the country is for banks to increase lending to the agricultural sector to 10% within the next four years. According to the Governor of the Bank, Godwin Emefiele, who spoke at the 13 banking conference in Abuja organized …read more →

Agriculture News & Reports

UNFAO, Cross River partner to boost agrotech capacity in MDAs

The United Nations Food and Agricultural Organisation (FAO) and the Cross River State government have agreed to a partnership that would result in agricultural and ICT  training for staff based in major ministries, departments and agencies in the state. The agreement was finalised after a meeting by representatives of both parties, which included Asibong Inyang, …read more →