Nigerian government has launched the Agriculture for Food and Job Plan (AFJP), a component of the Nigeria Economic and Sustainability Plan (NESP). The plan is to help mitigate the impact of COVID-19 on farmers and the economy. This was disclosed by the Minister of Agriculture
Whenever the commodity cycle reaches a trough, all eyes turn to China. Asia’s biggest powerhouse has through years of explosive growth become the top—or one of the top—importers of many commodities, leading the producers of these commodities to base their own growth strategies on China’s
Even though the West African country has typically produced more oil than allowed under the OPEC+ production cut agreement, Nigeria has plans to boost production by about a quarter of a million barrels per day over the next two years. The production increase will come
Gold prices settled sharply lower Wednesday, ending a two-day string of gains, as the U.S. dollar halted its skid and as commodity investors watched for minutes from the Federal Reserve’s July policy meeting, which could provide further insights on the central banker’s outlook for the
In 2018, when a rice farmer, Lawal Bala, experienced a positive turnaround in his farming business, he was overwhelmed with joy. For Mr Bala, the farming season was worth looking forward to. Now, he enjoys farming more than ever before. This had not always been
The approved price of petrol in Nigeria for August will increase, by up to 18 per cent according to estimates, as consumers await the release of the new retail price for the commodity by the Petroleum Products Pricing Regulatory Agency (PPPRA). The current approved petrol price, as
Prices of poultry and fish feed have increased across the country weeks after the Central Bank of Nigeria stopped the issuance of forex for the importation of maize. Traders and farmers attributed the hike in prices to the scarcity and sudden increase in the cost
Nigeria is set to commence gold production in 2021 after the launch of the Segilola Gold Project in Osun state. This was disclosed by the Honourable Minister of Mines and Steel Development, Olamilekan Adegbite, while taking stock of his first year in office as Minister.
Global food prices continued rising for the second consecutive month in July, led by vegetable oils and dairy products, the Food and Agriculture Organisation has said. According to the Food Price Index report published on Thursday on the FAO web page, which tracks international prices of the most
The Nigerian National Petroleum Corporation (NNPC) has recorded an encouraging 43 per cent drop in cases of willful damage of its oil pipeline infrastructure by suspected oil thieves in May. This was disclosed in a statement by the spokesperson of the corporation, Kennie Obateru, on Wednesday in