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Farooq

Posts Tagged "agriculture"

HomePosts Tagged "agriculture"

Dangote Group, controlled by Africa’s richest man, Aliko Dangote, plans to invest $3.8 billion in sugar and rice and $800 million in dairy production in the next three years as the company seeks to expand and deal with a shortage of dollars in its home market of Nigeria. The conglomerate plans to increase its production […]

Latest data from the National Bureau of Statistics show that Nigeria’s trade value in export is now more than the value of its import as agricultural exports increased by 82 percent in Q1 2017. The export earnings from agricultural goods stood at N30 billion. These exports were driven by Sesame seeds, whose exports were above […]

Akinpelu Dada The Dangote Group has disclosed plans to invest $1bn in rice cultivation in five states to boost food self-sufficiency in the country. The group stated this in a statement made available to our correspondent on Monday. Speaking at the just concluded 2017 Gateway Trade Fair, which held in Abeokuta, Ogun State, a director […]

Deals in Nigeria take an extraordinarily long time to complete. Yesterday’s announcement by CBN Governor Mr. Godwin Emefiele lauding the take off of a venture between Lee Group and Jigawa state to producer sugar was first announced in 2015. How has  it taken 2 years to get to the point of mobilisation? Having been active […]

The President, African Development Bank, Dr. Akinwumi Adesina, says billionaire businessman, Aliko Dangote, may become the largest exporter of rice in the world by 2021. Speaking at the Mo Ibrahim Forum in Morocco over the weekend, Adesina said Africa must focus on agriculture to drive growth and create jobs on the continent. He said, “I […]

By Paul Carsten ABUJA, March 24 (Reuters) – The World Bank said on Friday it has approved a $200 million loan to Nigeria to support the government’s effort to boost small and mid-scale farmers. The loan from the International Development Association, the bank’s low-interest arm, has a maturity of 25 years with a grace period […]

  • CBN

The Central Bank of Nigeria (CBN) says it disbursed 2.83 billion dollars to critical sectors of the economy between December 2016 and January 2017. Mr Isaac Okorafor, the Acting Director, Corporate Communications Department of CBN, made this known in a statement on Thursday in Abuja. He said that manufacturing, raw materials and agriculture topped the […]

The President of Dangote Groups of Companies, Alhaji Aliko Dangote, says Nigerians consume over 6.5 million tonnes of rice annually, less than half of which is produced locally. Dangote said that on Wednesday during the inauguration of the Dangote Rice Out Growers Scheme in Goronyo Local Government Area of Sokoto state. He expressed concern that […]

LAGOS Feb 13 (Reuters) – Dangote Group, controlled by Africa’s richest man Aliko Dangote, plans to launch a rice mill with a farm scheme in Nigeria to tap growing demand for paddy in Africa’s biggest economy, the company said on Monday. Rice demand in Nigeria hit 6.3 million metric tonnes (MT) in 2015, with 2.3 […]

ABUJA Feb 8 (Reuters) – Nigeria will increase custom duties for tomato imports and waive tariffs for some farming equipment to stimulate local production and investment in the agriculture sector, its trade minister said on Wednesday. “We are going to go up. We will be announcing what the new tariffs are but clearly there is […]