There is a scientific approach to curb artificial inflation, particularly in the food sector. That is what the National Bureau of Statistics (NBS), in collaboration with the Nigerian Economic Summit Group (NESG), have decided to apply in their monthly report beginning from the end of January. They announced that three new indices to track price…
The candy and chocolate giant Hershey Co., according to Bloomberg, has requested approval from the Commodities Futures Trading Commission (CFTC) to purchase over 90,000 metric tons of cocoa. The Pennsylvania-based global confectionery company, in a bid to secure its cocoa supply ahead of a speculated scarcity in 2025, intends to acquire the product through the…
The announcement by Professor Babagana Zulum, Borno State Governor, to subsidise cost of petroleum products in the state will be of greater benefit to farmers. It will particularly bring relief to those of them impacted by insurgency. Professor Zulum had said that he was going to bring down the cost of petrol per litre to…
Governor Bassey Otu has revealed that his administration’s agricultural programmes in Cross River state have started yielding fruits. He re-emphasised food as a compulsory factor for the growth of any society and reiterated his commitment to better feed the people of the state. The governor said agriculture was receiving serious attention in the state, since…
Nigeria’s inability to tap into the livestock market was due to the absence of a robust system to track and monitor livestock movement and health status. This is according to Muritala Alade-Bamgbala the Chief Executive Officer of Protein Trail Technology, a government solution-focused firm with the aim of sanitising Nigeria’s meat value chain. He, therefore…
The Abia State government has decided to initiate fresh bids for the management of its four farm estates. The government had revoked the contracts of the former investors reportedly in public interest, and alleging that they failed to fulfill their contractual obligations. The government also said that the terms of their contract were against the…
If the report of the All Farmer Association of Nigeria (AFAN) is anything to go by, Nigerians should brace up for a food crisis in 2025. The President of AFAN, Kabir Ibrahim urged citizens to prepare for tough times ahead, unless something is done urgently to curb currency volatility, insecurity and climate change. “Nigeria is…
The Singapore-based agribusiness giant Olam Group has confirmed that it received an offer from the Saudi Agricultural and Livestock Investment Company (SALIC) to buy out the remaining stake in Olam Agri. SALIC, a state-owned entity, currently holds a 35.4% stake in Olam Agri, having acquired it in 2022 as part of a Strategic Supply &…
Farmers in Imo State should not fold their arms and lament the dearth of arable land in the state, as there are solutions to the problem. This was the submission of Emeka Ihedioha, former deputy speaker of the House of Representatives and the politician who was removed by the court in 2020, after one year…
The Kaduna State Government has announced plans to plant 10 million trees in the next four years in a bid to tackle climate change and protect the environment in the state. The Commissioner of Environment, Alhaji Abubakar Buba, disclosed this while speaking to stakeholders in Kaduna on Wednesday. He noted that last year alone, the…
