Shareholders of Flour Mills of Nigeria Plc (FMN) have approved a N86 per share buyout under a Scheme of Arrangement at a Court-ordered meeting. The resolution paves the way for the transfer of ownership of FMN shares to Excelsior Shipping Company Limited and its Nigerian subsidiary, Greywise Investment Solutions Limited. At the meeting, shareholders endorsed a…
The investigation and enforcement team of the National Agency for Food and Drug Administration and Control (NAFDAC) has uncovered counterfeit medicines worth N300m during a raid at the Tyre Village Trade Fair in Lagos State. NAFDAC revealed this via its official social media handle on X, formerly twitter. The agency said the operation led to…
Joseph Sarwuan Tarka University, Makurdi, Benue State, has revealed that Nigeria loses approximately $9bn annually to post-harvest losses. The Director of Teaching and Research Farms at the university, Prof. Felix Ugese, stated that the Global Hunger Index ranks Nigeria 110th out of 127 countries, indicating “serious” hunger levels. Speaking in Lagos at the Agroween Festival…
The Federal Capital Territory (FCT) does not want to be left behind in the race to tackle food insecurity in the country. It, therefore, took a step towards elevating agriculture in the territory recently by approving a contract to bolster dry season farming in the council areas under it. The contract was approved at a…
The National Bureau of Statistics has said Nigeria’s Gross Domestic Product growth rate in real terms grew by 3.46 per cent in the third quarter of 2024 on a year-on-year basis. The Statistician General of the Federation, Prince Adeyemi Adeniran said this in a press statement recently. He said the growth is 0.92 percentage points…
The Ministry of Agriculture and Food Security (FMAFS) has, on behalf of the federal government, signed a Memorandum of Understanding (MoU) with Fundação Getulio Vargas (FGV) of Brazil, (has signed a Memorandum of Understanding MOU) to advance private sector development in fertiliser production, implement 1.2 billion Green Imperative Project (GIP). The partnership, struck at the…
Economic inclusion programmes are cost-effective and impactful but are reaching only about one-in-ten people living in extreme poverty, according to a World Bank report released recently. Economic inclusion programmes, which provide cash transfers, skills training, business capital, coaching, and market access build a ladder out of poverty for the poorest and most vulnerable people, particularly…
Nigeria accounts for $28.2bn of the Sub-Saharan Africa (SSA) port project pipeline, driven by large-scale projects such as the $12bn Olokola Deep Sea Port in Ondo, a report by BMI, a Fitch Solutions Company has said. The research firm stated this in a report titled ‘Sub-Saharan African Transport Infrastructure Project Pipeline: Roads And Bridges Set…
A Public Policy Analyst, Comrade David Adenekan, has faulted the belief that Nigeria can bridge the wide gap of deficits in food production through subsistence farming. Adenekan in a statement he issued in Abuja, said the authorities should go beyond mere declaration of the state of emergency in food security by addressing the challenges of…
The Minister of Regional Development, Engr. Abubakar Momoh, has warned that Nigeria’s vulnerability to climate change is escalating and posing significant threats to the country’s development and its people. The Minister stated this on the margins of the United Nations Climate Change Conference (COP29) in Baku, Azerbaijan. According to him, the Niger Delta, the region that…
