Connect with us

Business

Nigeria Generated $150m From Coconut Oil In 2020 -Minister

Published

on

The Minister of Agriculture and Rural Development, Sabo Nanono, has said that Nigeria generated $150 million from the export of coconut oil and its derivatives in 2020.
The minister disclosed this during a training for coconut farmers organised in collaboration with the Nigerian Institute for Oil Palm Research in Benin on Wednesday.
Speaking through his representative, Bernard Ukattah, a deputy director at the Federal Ministry of Agriculture and Rural Development, Nanono said that coconut was a major non-oil export foreign exchange earner for Nigeria.
He explained that coconut provided livelihood for over 500,000 families, noting that it accounted for 10 per cent of the nation’s agricultural exports.
According to him, the produce is expected to generate about $250 million this year.
He said, “As a result of the awareness of its value and degree of uses, Nigeria has in recent times increased the volume of production of coconut to average of 250,000 metric tons per annum.
“In 2016, Nigeria produced 283,774 metric tons and the demand for the crop has been on the increase, growing upwards to over 500 per cent in the last decade.
“Available data shows that coconut is grown in 22 states of the country with Lagos being the largest producer.
“Other major producing states include Ogun, Ondo, Edo, Delta, Akwa-Ibom, Rivers, Cross Rivers, Imo and Benue among others”.
The Acting Executive Director of NIFOR, Dr Celestin Ikuenobe, urged the farmers to take advantage of the training to improve the production of coconut to create wealth for themselves and the nation.
He advised them to buy their seedlings from NIFOR to ensure they have a good quality.

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