Dangote Sugar Plc and BUA Foods Plc raked in a whopping N1.025trn from sales of sugar during the third quarter of 2024. This represents a 36.23 per cent increase from the N752.383bn realised by these two food giants in the corresponding period of 2023. The surge in the revenue is attributed to inflationary pressures and…
The preference of Nigerians for foreign products is being exploited by marketers in the country. For instance, it has been discovered that there are marketers who sell local rice to Nigerians as foreign brands. This came to the open, when the Federal Competition and Consumer Protection Commission (FCCPC) raided the Utako Ultramodern Market on Tuesday…
The President, Abuja Chamber of Commerce and Industry (ACCI), Emeka Obegolu, on Saturday, lamented the persistent surge in the price of food commodities across the country. Obegulu in a statement said the situation, if unaddressed, would cripple small-scale businesses, which are struggling to adjust to various economic reforms by the Bola Tinubu-led administration. National Bureau…
The worrying escalation of the cost of food in Nigeria is not peculiar to the country. That is stated in the latest report by the World Bank in its Food Security Update. Other countries most hit by food inflation include countries in Africa, North America and Latin America. According to the report, aside from the…
Mohammed Umaru Bago, Niger State Governor has disclosed that the only way to address insecurity and ensure sustainable development in the northern part of Nigeria is a return to agriculture. Governor Bago who has the official title of Farmer Governor stated this at the 10th edition of the Annual Sir Ahmadu Bello Memorial Lecture held…
CHIEF: Leader, quite a long time. What is happening? l called your lines severally to no avail. Each time I called; I met a brick wall. What is the problem? Leader: Immediately we finished our festival last year, I had to go back to our village, in fact, my trip was timely, because my people…
The Minister of Water Resources, Engr. Joseph Utsev, has pledged to provide lasting solutions to the water supply issues affecting sugar estates across the country. Utsev expressed his commitment to supporting the National Sugar Development Council (NSDC) in achieving self-sufficiency in sugar production. Utsev’s assurance was made when he hosted NSDC Executive Secretary and Chief…
The Federal Capital Territory (FCT) Command of the Nigeria Customs Service (NCS) has intercepted $193,000 undeclared foreign currency. The money was concealed in a carton of yoghurt as part of the luggage of a traveler who flew into the country through the Nnamdi Azikiwe International Airport, Abuja. The interception on Thursday resulted from credible intelligence…
At the ongoing 2024 US-Africa Business Summit in Dallas, United State of America, Abiodun Abayomi Oyebanji, governor, Ekiti State Governor and Niyi John Olajide, Chairman of Cavista Holdings, (owners of Agbeyewa Farms Limited) signed multi-billion Naira Memorandum of Understanding to establish a state-of-the-art cassava farm of over 100,000 hectares in the State. Olajide Chairman of…
The Federal Competition and Consumer Protection Commission (FCCPC) has warned traders, and farmers to desist from the forceful practices of ripening fruits, adulterating palm oil, and sale of contaminated meat and grains. During a sensitisation campaign in Abuja, the Acting Executive Vice Chairman of FCCPC, Dr Adamu AbdullahI on Thursday decried the unhealthy attitude of…
