Connect with us

Business

Industrialist Tasks FG On Cocoa Production

Published

on

An industrialist and executive of the Nigerian Association of Chambers of Commerce, Adolphus Ekpe has urged the Federal Government and relevant stakeholders to channel resources to boost cocoa.
He said that agriculture which was the mainstay of Nigeria’s economy that provided jobs for more than 70 per cent of the population, until the discovery of oil, has not been given the required attention in terms of investment.
Ekpe, who disclosed this while speaking to newsmen at the Port Harcourt International Airport, Omagwa shortly on arrival from Lagos, in reaction to stake of Nigerian economy noted. He that proper attention has not been given to key areas of our agriculture potentials like cocoa, palm produce among others.
According to him, one sector seen as ripe for development is cocoa, and the Federal government in the quest to diversify the economy, has not done enough to boost investment in the sector.”
He however remarked that the Cocoa Association of Nigeria (CAN) has outlined a 10-years action plan to boost production, pointing out that Cocoa House in Ibadan, South-West, Nigeria, was built with the earnings from exports of cocoa beans, and that the 26 storey building was once the tallest building in the country.
“Profits from sales of the commodity, prized around the world as the basic ingredient for Cccolate used to be ploughed into providing free education and health services, rural development and other projects.
“But today, the cocoa house is a shadow of its former self. The paint is faded, the roof is failing and offices lie empty.
“We have made laudable recommendation that can, change the cocoa story in Nigeria and we hope those recommendations will be fruitfully implemented in the interest of the industry now that the quest to diversify the oil dependent economy is burning,” he stated.
The NACCIMA executive also pointed out that Nigerians oil industry, which accounts for some 70 per cent of government revenue and 90 per cent of foreign earnings was initially developed using money from cocoa.
He regretted that cocoa has been the West African giant’s most neglected commodity, which declined since the 1970s, as the oil stock rose.

 

Corlins Walter

Continue Reading

Business

Stakeholders Meet To Assess Nigeria’s Preparedness For AFCFTA

Published

on

Stakeholders are expected to converge in Lagos today to take a look at the Nigeria’s preparedness to maximize the gains of the African Continental Free Trade Area (AfCFTA). 
The Tide learnt that stakeholders will be converging at the instance of a popular online newspaper, Primetime Reporters, to assess the progress made so far by the Federal Government through the National Action Committee on AfCFTA agreement.
The event which is the Third Annual Lecture and Awards of the online medium has as its theme: “Assessing Nigeria’s Preparedness to Maximize the Gains of AfCFTA.” 
The event will also witness conferment of awards on eight eminent Nigerians who have distinguished themselves in various fields of human endeavours.
The Managing Director/Editor-In-Chief of Primetime Reporters, Mr. Saint Augustine Nwadinamuo, made this known in a statement made available to The Tide in Lagos on Monday.
According to him, the event will hold at the National Institute of International Affairs (NIIA), Kofo Abayomi Street, Victoria Island, Lagos beginning from 10.00am.
Nwadinamuo said that the event would be chaired by a renowned legal practitioner, Barr. Osuala Emmanuel Nwagbara of the Maritime and Commercial Law Partners, Lagos, while the Director General, Lagos Chambers of Commerce and Industry (LCCI), Dr. Muda Yusuf, would be the lead paper presenter.

By: Nkpemenyie Mcdominic, Lagos

Continue Reading

Business

EFCC Nabs 419 Kingpin Over N250m Fraud

Published

on

The Economic and Financial Crimes Commission (EFCC), has arrested a leader of a deadly 419 syndicate, Abayomi Kamaldeen Alaka (a.k.a Awise) over an alleged attempt to swindle an innocent Nigerian of N250 million. 
The Tide learnt that the syndicate operates from a shrine at Ashipa Town, near Abeokuta, Ogun State.
According to a statement made available to The Tide in Lagos on Sunday, by the EFCC, Awise’s arrest followed a petition by his victim, Juliet Bright who lost N250m to the fraudster after she was tricked to provide money for sacrifices and invocations to heal her of an ailment.
The statement said Bright was introduced to Alaka by one Akinola Bukola Augustina (a.ka. Iya Osun) whom she met on Facebook in the course of her search for solutions to her health challenge. 
What drew her to Augustina was the latter’s post under the name, Osunbukola Olamitutu Spriritual Healing Centre.
 Once Bright contacted Augustina, the latter promised to heal her if she could pay N16 million. 
The victim paid the money through an Access Bank account belonging to one Mohammed Sani, who later turned out to be a Bureau De Change Operator.
After paying the money without receiving healing, Augustina transferred the victim to other members of the syndicate, notably Awise. 
Bright revealed that she met Awise at his shrine in Ashipa Town and was hypnotized and subsequently transferred various sum through bank accounts and in cash to the suspect and his syndicate members, until she lost N250 million to them.
Despite all the monies collected from her, her health conditions has never improved.

By: Nkpemenyie Mcdominic, Lagos

Continue Reading

Business

Expert Wants Farmers To Grow Plant Produce For Export

Published

on

An expert in Quarantine Agriculture, Dr Vincent Ozuru, has advised Nigerian farmers to give more attention to growing plants produce that could be exported.
He said that plant like the hibiscus, popularly known as Zobo is on high demand in some countries around the world, today.
Ozuru who gave the advice while speaking to aviation correspondents at Port Harcourt International Airport, Omagwa, noted that some plants produce, particularly hibiscus, had yielded huge revenue to the Federal Government through export.
According to him, Nigeria exported about 1,983 containers of hibiscus to Mexico alone in 2017 and earned $35 million within nine months of that year.
The agricultural quarantine expert explained that the export of the plant had a setback as a result of storage pest discovered by the Nigeria Agricultural Quarantine Service in some consignments.
“The issue has now been taken care of and the export is resuming again, and all matters have been resolved with the stakeholders across the value chain.
“Mexico is the largest importer of Nigerian hibiscus, and our farmers should brace up to the challenge.
“The good news is that Nigeria has a vast growing belt in hibiscus, and the harvest is available all year round.
“We need to take advantage of this opportunity to earn foreign exchange for ourselves and for the country at large, even with the commitment of the present administration to diversify the economy”, he said.
Ozuru called on Nigerian farmers to show more commitment to the growing of export produce and also endeavor to get ready information on it in order to increase their income.

By: Corlins Walter

Continue Reading

Trending