Agriculture
Nigeria Records $426.5m In Non-Oil Exports
The hope for a bumper
revenue earning and foreign exchange accumulated by the Federal Government this year due to a 12.5 per cent leap in total value of not oil export recorded in February 2014 has been achieved.
According to a recent provisional data released by the Central Bank OF Nigeria, (CBN) and made available to The Tide source, which covers the nation’s economic performance for the month of February 2014, total non-oil export was put at $426.46 million, representing 12.5 per cent increase above the preceeding month.
The source said the development was said to reflect to a large extent, 32.2 and 5.6 per cent increase in manufacturing and industrial sectors respectively.
A sectorial breakdown indicates that proceeds from agriculture, minerals, and food products sub-sectors stood at $246.12m, $121.82m, $33.79m and $7.5m, respectively.
However, the report said the transport sector recorded no receipts under the review month but said that the shares of agriculture, minerals and food products sub-sectors in non-oil export proceeds, among others were 57.7, 28.6, 7.9, 4.1 and 1.7 per cent respectively.
Financial analysts say that if the tempo of non-oil exports especially, agriculture was sustained till the end of 2014, then Nigeria would witness a reduction in the demand for foreign exchange at the various segments of the market.
The analysts further said the scenario would also ginger higher yields from non-oil export ativities that would help shore-up foreign exchange.
In Nigeria, non-oil exports include, cocoa, cashew, fried snail, garri, gallstones, ginger, dried vegetables, cassava chips/leaves/roots, bones, sesame seeds, pepper, honey, charcoal, spices, various manufactured or processed products and intermediate goods.
The 2013 non-oil exports data obtained from the Nigerian Export Promotion Council (NEPC) showed that the total earnings by end of 2013 was $2.97 billion.
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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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