Agriculture
Livestock Firm Records 80% Growth
Despite the global economic challenges and unfavourable high cost of critical raw materials, Livestock feeds Plc has recorded an astionishing 80 per cent growth in performance.
Making the revelation recently in the 2011 annual report and accounts to the company, the Chairman, Robert Tade stated that the manufacturing sector especially the Flour Millina constituency faced enormous challenges during the year.
According to him, capacity utilisation declined to about 45 per cent and the sector was generally bagged down by the perennial business environmental problems which included acute state of infractural decay especially energy, smuggling and indiscriminate dumping of cheap substandard goods in the country.
He said other challenges faced by the Sector included high cost of funds and inadequate long-term loan windows to support long gestation investments.
Mr. Tade decried the threat to the political and economic stability of the country as a result of the unfortunate and continuing religious and political upheavals especially in the northern geo-political zones of the country.
According to him, commodity prices experienced an upward shoot worldwide fuelled by the shortages/natural disasters which further compounded the increasing demands from emerging and developing economies like Brazil, India and China which has been experiencing relative rabust economic growth.
“The overall business environment was particularly tough for the Sub-sector in 2011 largely droven by the bitting high cost of vegetable protein materials, further aggravated by the harsh operating environment.
“The associated rising costs invariably led to incessant product price increases fuelling very strong customer price objections”, he said.
He further remarked that margins remained ththan especially for millers who lacked straregic leverage for inventory acquisition as it became extremely difficult to optimally recover cost owing to intense competitive pressures resulting to price wars.
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Agriculture
FG, Ogun Distribute Inputs To 2,400 Farmers
Federal Government and the Ogun State Government, on Wednesday, distributed farm inputs to farmers as part of effort to address food security challenge.
The State Director, Federal Ministry of Agriculture and Food Security, Dr. Toyin Ayo-Ajayi, during the flag-off ceremony of Inputs Redemption Under The National Agricultural Growth Scheme-Agro Pocket (NAGS-AP), in Ogun State, disclosed that beneficiaries of the gesture were primarily rice, maize and cassava farmers across the State.
Ayo-Ajayi commended the Ogun State Government for partnering with the government at the centre for the effort in supporting farmers with inputs that would bring about yieldings for local consumption and likely exportation.
She noted that government is supporting rice, cassava and maize farmers with inputs worth N212,000; N189,000 and N186,000 respectively.
The Permanent Secretary in the State Ministry of Agriculture, Mrs Kehinde Jokotoye, who represented the Commissioner in the Ministry, Bolu Owotomo, stated that traditional farmers are critical in food production, hence the need to encourage and support them with inputs that would bring about desired results during harvesting.
Owotomo said: “Let us make good use of this opportunity, so that the success of this phase will make farmers benefit more from the state and federal governments of Nigeria.”
Earlier, State Coordinator, Federal Ministry of Agriculture and Food Security, Dr. Oluwatoyin Ayo-Ajayi, appreciated the present administration for partnering with the federal government for the initiative, adding that the programme is designed to support farmers at the grassroots level in cassava, rice and maize with inputs such as, seeds, pesticides, herbicides and fertilizers, to boost their production and enhance their livelihood.
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