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Nigerians, Kenyan, Others Win AfDB’s AgriPitch Competition Prizes

The founder of a cassava processing business in Kenya, a co-founder of a novel food processing technology start-up, and the owner of a smallholder farmer food procurement company in Nigeria were among cash prizes winners in the African Development Bank’s (AfDB’s) $120,000 AgriPitch competition on Tuesday. The Agriptch Competition offered young entrepreneurs in Africa’s agricultural […]

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CBN Lists Criteria For Accessing P-AADS Fund, Beneficiaries

The Central Bank of Nigeria (CBN) has disclosed that companies, individuals and agro-processors of agricultural commodities will be able to access up to a maximum of N2 billion per obligor under the Private sector-led Accelerated Agriculture Development Scheme, P-AADS. Making the disclosure in the guidelines for the P-AADS, the apex bank’s Director, Development Finance Department, […]

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2,074 Nasarawa Farmers Benefit From CBN’s Anchor Borrowers Programme

At least 2,074, farmers in Nasarawa State at the weekend benefitted from the Central Bank of Nigeria’s (CBN’s) Anchor Borrowers’ Programme (ABP). The farmers were supplied knapsack sprayer and water pump machines for rice irrigation farming as part of the apex bank’s sustained efforts to support smallholders farmers nationwide. Confirming the distribution of the sprayers […]

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Dangote Group Sets December Timeline For Fertilizer Plant’s Operations

The Dangote Group has disclosed that its granulated urea fertilizer plant located at Ibeju Lekki, Lagos state, will start operations before the end of next month. The Group Head, Corporate Communications, Dangote Group, Mr Anthony Chiejina, confirmed the timeline for the kick-off of the $2bn plant to the News Agency of Nigeria (NAN) on Wednesday […]

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Nigeria Seeks $1.2Bn Loan From Brazil For Agric Financing

The Nigerian Government is seeking National Assembly approval for $1.2 billion loan from Brazilian Government to fund some areas of the agriculture value chain, Finance Minister, Zainab Ahmed, hinted on Tuesday in Abuja during the ministry’s budget defence. The minister told the House of Representative Committee on Finance that the Federal Government was also making […]

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ARC, Pula Partner To Enhance Agric Index Insurance Products For Farmers

The African Risk Capacity Limited (ARC Ltd), the commercial subsidiary of African Risk Capacity Group (ARC Group), has announced a partnership agreement with Insuretech Pula to deliver best-in-class agriculture index insurance products to protect African farmers from climatic risks. The pact was partly sealed based on the lingering challenges facing African farmers every farming season, […]

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Nigeria’s Inflation Hits 13.22% In August, Highest In 28 Months

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 […]

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Buhari Orders Zero Forex Allocation For Foods, Fertilizer Imports

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 […]

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FG Inaugurates N75Bn COVID-19 Stimulus Schemes For MSMEs

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 […]