As predicted by many economic analysts, Nigeria’s consumer price index, (CPI) which measures inflation, increased by 13.22 percent (year-on-year) in August 2020, representing 0.40 percent points higher than the 12.82 percent rate recorded in the preceding month. According to the National Bureau of Statistics (NBS), the publisher of the report, the August CPI rate, which […]
The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, on Tuesday said there was a growing need for Nigeria to increase bank credit to the agricultural sector to 10% within the next four years in order to forestall food insecurity crisis in the country. Emefiele, who charged bankers on the imperative of up-scaling […]
President Muhammadu Buhari on Thursday directed the Central Bank of Nigeria (CBN) not to allocate foreign exchange (Forex) for the importation of food items or fertilizer in line with the monetary and fiscal authorities’ efforts to conserve the nation’s fast-depleting foreign reserves. Buhari gave the order, the second time since August 2019, at a meeting […]
The Federal Government on Thursday flagged off two schemes with N75 billion funding package to support about 1.7 million micro, small and medium enterprises in the country. The Minister of State, Ministry of Industry, Trade and Investment, Amb. Mariam Katagum, at a media briefing briefing on the National MSME Survival Fund and the Guaranteed Off-take […]
Farmers in South West region of the country are counting their losses as shortage of rain remained a big challenge to their farming activities and productivity. Speaking on the challenges of farmers in the region during an interview with the News Agency of Nigeria (NAN) on Tuesday, the Chairman of Oyo State All Farmers Association […]
Group Managing Director of Zenith Bank, Mr. Ebenezer Onyeagwu, has canvassed the need for concerted effort towards diversifying the country’s export base through the promotion of non-oil exports. Onyeagwu gave the charge during a Webinar, themed: ‘Prospects of Non-Oil Export During and Post COVID-19’, organized on Wednesday by the bank. According to him, the outbreak […]
Nigeria’s cocoa output has been projected to drop by at least 20% this season as efforts by producers to curb the devastating impact of the COVID-19 pandemic on cocoa production and harsh weather conditions increase the likelihood of a poor harvest. The National Bureau of Statistics (NBS) had stated in a report that the pandemic […]
President Muhammadu Buhari on Tuesday listed nine policy issues that will be the major focus of his administration in the next three years. Specifically, the President disclosed that between now and 2023 when his APC-led administration will complete its second term of four years, the government would commit its time, energy and other resources towards […]
The Minister of Agriculture and Rural Development (FMARD), Alhaji Muhammad Sabo Nanono, has reiterated the Federal Government’s commitment towards a stronger partnership and collaboration between it and farmers nationwide. The minister, who gave this assurance when the Amana Farmers and Grains Suppliers Association of Nigeria (AFGSAN) led by its Chairman, Alhaji Haruna Ahmed Pambegua, paid […]
The Food and Agricultural Organization (FAO), has ranked Nigeria as one of the world’s largest producers of yam, accounting for about 64% of the food crop produced globally. The Permanent Secretary, Federal Ministry of Agriculture and Rural Development (FMARD), Dr. Mohammed Bello, disclosed this in Abuja at the National Awareness Workshop on Yam, organized by […]