Business

Minister Tasks Agric Produce Exporters On Standards

Published

9 years ago

July 3, 2017

The Minister of Agriculture and Rural Development, Chief Audu Ogbeh, last Thursday urged exporters to ensure that all agricultural produce for export met the highest global standards.
Ogbeh, gave the advice at the Flag-0ff of the Nigeria Yam Export, organised by the Technical Committee on Nigeria Yam Export and the Federal Ministry of Agriculture and Rural Development in Lagos, Thursday. According to him, the Federal Government will not condone the embarrassment if yams exported to the UK and US are rejected.
“To ensure quality control at every point of the yam production is, therefore, essential.
“As a farmer, l will implore my colleagues to check the infidelity among trusted staff and ensure that a bad yam is not added to the consignments for export.
“The Federal Government is set to achieve a milestone in the effort to restore Nigeria into the agro- commodity export market.
“This we are doing by exporting the first consignment of certified yams to the UK and US today,’’ he said.
Ogbeh said that the success of the Nigeria Yam Export Programme was expected to trigger increased income, enhance standard of living and promote job creation.
He said that, it would also enable participation of women and the youth in agriculture through the development of innovative entrepreneurial endeavours on a sustainable basis.
The minister said that the yam export programme was one of many of Government’s import substitution drive and an approach to diversify the nation’s economy through the agricultural sector.
He said that, the Federal Government would promote research development in yam production, processing, storage, packaging and marketing, among others.
Chairman of the Technical Committee on the Nigeria Yam Export Programme, Prof. Simon Irtwange said that, the Committee had worked within the Minister’s charge in February, to export the first yams in five months.
He said that the Committe had also presented a memorandum on a blueprint for the development of Yam Value Chain, production, marketing and exportation to the minister.
Irtwange said that the committee would need a Yam Terminal, National Yam Park house facilities and warehouses at the receiving countries, among others.

Business

Navy Hands Over Five Suspected Stowaways to NIS

Published

3 minutes ago

June 29, 2026

The Tide

The Nigerian Navy Ship (NNS) Beecroft has handed over five suspected stowaways to the Nigeria Immigration Service (NIS)

The suspects were discovered aboard a merchant vessel, MT Chinafrie Happiness, in an attempted illegal voyage out of the country.

This was contained in a statement issued by Sub Lieutenant A.O. Ajayi, Naval Assistant to the Commander, NNS Beecroft.

The statement said the Handover is part of ongoing inter-agency collaboration aimed at strengthening maritime security, curbing illegal migration, and enhancing safety within Nigeria’s maritime environment.

According to the statement, the suspects were discovered on Wednesday, June 17, 2026, concealed inside the rudder compartment of the vessel while it was berthed at Tin Can Island Port in Lagos.

The five suspects were safely evacuated by Naval Personnel’s and taken to NNS Beecroft for preliminary investigation, profiling, and documentation before being transferred to immigration authorities for further action.

The statement gave their identity as Segun Samuel Boyewa (31), Kingsley Chukwu (43), Joseph Judge (33), Moses Aletor (24), and Abdullahi Danlami (31).

Preliminary findings indicated that the individuals allegedly boarded the vessel while it was docked at Tin Can Island Port with the intention of stowing away to India without valid travel documentation or authorisation.

The statement also noted that stowaway attempts pose significant risks to human life and maritime safety, as individuals often hide in hazardous compartments of vessels under extreme conditions that could lead to injury or death.

The Naval statement warned that illegal boarding of ships remains a serious maritime security challenge and called on parents, guardians, and community leaders to discourage youths from engaging in such dangerous and unlawful acts.

The statement reaffirmed the commitment of NNS Beecroft to sustained maritime security operations in line with the mission of the Chief of the Naval Staff, Vice Admiral Idi Abbas, aimed at maintaining a professional and effective naval force capable of safeguarding Nigeria’s maritime interests and supporting joint operations for national security.

Chinedu Wosu

Business

Lithium Prices Tumble As Traders Brace For CATL Supply Surge

Published

5 minutes ago

June 29, 2026

The Tide

Lithium carbonate futures in China fell ~10% over two trading sessions, dropping to a 10-week low of approximately 157,000 yuan ($23,175) per tonne on Tuesday following market speculation that China’s EV battery giant, Contemporary Amperex Technology Co. (CATL), may soon restart its massive Jianxiawo mine. Reports from authorities in Jiangxi Province show that CATL’s Jianxiawo lithium mine in Yichun passed a preliminary land pre-review and site selection, with the Jiangxi Provincial Department of Natural Resources issuing a “Project Land Use Pre-Approval and Site Selection Opinion”, valid from June 17, 2026, through June 17, 2029.

The approval report has also extended losses for lithium miners, with Lithium Americas (NYSE:LAC) cratering 15.2% over the past 30 days; Sigma Lithium Corp. (NASDAQ:SGML) has lost 14.8%, Atlas Lithium Corp. (NASDAQ:ATLX) has declined 10.2%, Albemarle Corp. (NYSE:ALB) is down 14.8% while Sociedad Química y Minera de Chile S.A. (NYSE:SQM) has shed 5.6% over the timeframe.

Located in Jiangxi Province, China, the Jianxiawo mine is one of the largest hard-rock, lepidolite-hosted lithium deposits in the world. Lepidolite is a lithium-bearing mica mineral comparable to the more common spodumene, which is composed of lithium and aluminum silicate. While it yields less lithium per ton of raw ore compared to spodumene, the sheer scale of the Jianxiawo lithium deposits makes it a force to reckon with, with the mine capable of producing ~46,000 tons of lithium carbonate annually, roughly equivalent to 3% of the global lithium supply.

The pullback is a reversal from the early-year rally when lithium carbonate futures spiked past 200,000 yuan per tonne driven by supply disruptions as well as an unexpected surge in demand from the grid-scale energy storage sector.

Global supply of lithium carbonate took a hit after major mining operations, including the Jianxiawo mine, faced extended shutdowns and permit delays. Back in February, Zimbabwe’s government suspended the export of 14 critical metals, including lithium concentrates, indefinitely in a bid to curb leakages and force foreign operators (largely Chinese) to building local processing plants. Unlike the phased timeline originally planned for January 2027, this emergency directive took effect immediately and even applied to minerals in transit. Mining giants such as Zhejiang Huayou Cobalt and Sinomine must now build local processing infrastructure in Zimbabwe, including a $400-million plant by Prospect Lithium and a planned $500 million lithium sulfate plant. Chinese refineries which rely heavily on Zimbabwean spodumene were starved of supply, triggering a rise in lithium prices.

That said, a cross-section of Wall Street is warning that it’s still too early for lithium bears to do a victory lap, pointing out that the resumption of operations at the Jianxiawo mine still faces major regulatory hurdles and that the operation still requires a renewed mining permit, updated environmental impact reviews, and formal approval for a tailings storage facility.

The mine’s original permit has expired, forcing CATL to navigate China’s revised Mineral Resources Law, which now classifies lithium as a standalone strategic mineral. The tailings facility approval is, however, the most significant bottleneck. Because Jianxiawo extracts low-grade lepidolite ore, it produces millions of tons of waste/slag annually. Under China’s strict environmental oversight, building and approving the required large-scale tailings dam is generally a complex, time-consuming process.

“Though the exact purpose of the land use, remaining process, and timeline is yet to be confirmed, the market appeared to price in the resumption of Jianxiawo in the near term,” analysts at Citi said in a note, predicting a continuation of tight lithium supply-demand dynamics because of new battery capacity scheduled in the third quarter.

Several Wall Street analysts remain optimistic that the global lithium market is transitioning into a structural supply deficit starting in the current year following a prolonged period of oversupply and a price crash. According to a recent Fastmarkets analysis, the structural mismatch where demand outpaces newly added mine capacity is driving a notable market correction and a recovery in prices.

The analysts point out that battery energy storage (BESS) deployment has emerged as a major new structural demand pillar, with the massive growth projected for this market reducing the lithium market’s singular reliance on electric vehicle (EV) adoption cycles. Indeed, the global BESS market is expected to nearly triple to reach up to $150 billion by 2030, with global capacity forecast to multiply between 5 and 15 times by the end of the decade mainly powered by the AI boom. Meanwhile, slowing mine output is expected to be bullish for lithium prices after multiple miners cut production or abandoned planned projects in recent years amid a global lithium glut.

By Alex Kimani for Oilprice.com

Business

Navy Nabs 13 Black Sand Miners In Bayelsa –Impound Two Boats

Published

6 minutes ago

June 29, 2026

The Tide

The Nigerian Navy has arrested Thirteen 13 Black Sand miners in Bayelsa state

The Service also impounded two Wooden Boats used for the illegal operations

Director of Naval Information, Capt. Abiodun Folorunsho, said this in a statement issued to Newsmen in Abuja.

Folorunsho said with the operation, the Navy had recorded another operational success in its efforts to curb illegal exploitation of natural resources

According to Folorunsho the operation was conducted by Forward Operating Base (FOB) FORMOSO, following credible intelligence on the movement of boats suspected to be involved in illegal mining activities.

He said the intelligence revealed the boats were operating within the coastal communities of Brass Local Government Area.

“Acting on the intelligence, Naval personnel intercepted the boats at Lekeson and Liama communities, where large quantities of suspected illegally mined black sand were discovered onboard.

“A total of 13 crew members were arrested in connection with the activity,” he said.

The Naval Director of information said that the successful operation underscored the Navy’s commitment to protecting Nigeria’s maritime environment and preventing the illegal exploitation of natural resources that undermine economic development and environmental sustainability.

“The Nigerian Navy remains resolute in sustaining operations against illegal resource extraction and other maritime crimes, while maintaining security and stability within the nation’s waterways,” he said.

Folorunsho also said that the two wooden boats recovered, the black sand and the 13 suspects have subsequently been handed over to the Divisional Police Officer, Nembe Division, for further investigation and possible prosecution.

He said this was done in line with the extant procedures and directives of the Bayelsa Government.

The Naval spokesperson reaffirmed the Navy’s commitment to collaborating with relevant stakeholders and security agencies to safeguard Nigeria’s maritime resources.

Folorunsho assured that it would also ensure that the nation’s waterways remain safe and secure for legitimate economic activities.

CHINEDU WOSU