Business
Nigeria Exports N58.65bn Electricity In Q1 2024
Nigeria has exported N58.65 billion electrical energy to African countries in the first quarter of 2024.
The National Bureau of Statistics (NBS) made this known in its document titled: “Foreign Trade in Goods Statistics (Q1 2024)”.
A section of the report on “Analysis of Nigeria’s Trade with African Countries Q1 2024″, said the electrical energy constituted 2.62percent of the goods the continent imported from Nigeria.
The countries which import electricity from Nigeria are Republic of Benin, Niger, and Togo.
NBS said Nigeria’s imports from African countries in the first quarter of 2024 consisted mainly of kerosine type jet fuel (N31.00 billion (7.72percent), petroleum bitumen (N30.45 billion (7.58percent), diammonium hydrogen orthophosphate (diammonium phosphate), and (N27.64 billion (6.88percent).
The report added that other liquefied petroleum gases and other gaseous hydrocarbons accounted for (N26.61billion (6.62percent) and Polypropylene (N18.30 billion (4.55percent) of total import from African countries.
The document said in the same vein, the major importing partners are South Africa with goods valued at N97.33billion and Ivory Coast with N51.41 billion other importing countries are Togo with N40.86 billion, Egypt with N40.23 billion and Morocco with N30.07 billion.
Nigeria, according to NBS, imported goods mainly from Asia, valued at N5,957.99 billion representing 47.12percent of total imports.
It added this was followed by imports from Europe with N4,669.86 billion or 36.94percent, America with N1,554.69 billion or 12.30percent, Africa with N401.83 billion or 3.18percent and Oceania with N58.86 billion or 0.47percent in the first quarter of 2024.
The report further said imports from ECOWAS countries amounted to N113.04 billion or 0.89percent of total imports.
Analysis by trading partners revealed that imports originated mainly from China and were valued at N2,930.10 billion, representing 23.18% of total imports.
It said this was followed by imports from India with N1.070.23 trillion (8.46% of total imports), United States of America with imports valued at N1.009.22 trillion or 7.98% of total imports, Belgium with N955.97 billion (7.56% of total imports) and the Netherlands with N591.55 billion or 4.68% of total imports.
NBS said, on the other hand, in the period under review, export values to African countries stood at N2.236.82 billion, while imports amounted to N401.83 billion.
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FCTA, Others Chart Path To Organic Agriculture Practices
The Federal Capital Territory Administration (FCTA) and other stakeholders have charted path to improved organic agriculture practices nationwide.
At a 2024 national organic and agroecology business summit held recently in Abuja, stakeholders took turn to speak on the additional areas of promoting the practices.
The Mandate Secretary, FCT Agriculture and Rural Development Secretariat (ARDS), Lawan Geidam, advocated for sustainable practice to develop resilient food systems that will benefit people.
The event, with the theme,”Towards Policies for Upscaling Organic Agroecological Businesses in Nigeria”, is aimed at fostering growth in the organic agriculture sector.
Geidam, who was represented by the Acting Director, Agric Services, in the Secretariat, Mr. Ofili Bennett, emphasised the success of organic and agroecological farming, reling on the active involvement of farmers, businesses and consumers.
He reassured attendees that the FCT Administration, led by the Minister, Nyesom Wike, and Minister of State, Dr. Mariya Mahmoud, remains dedicated to supporting initiatives that enhance the livelihood of residents.
Geidam described the partnership between the Secretariat and the organic and Agroecology initiative for a monthly exhibition and sale of organic products in the FCTA premises as a testament to this commitment.
“The ARDS remains committed to driving policies and initiatives that align with national goals and global standards”, Geidam said.
On her part, the Chairperson of Organic and Agroecology Initiative, Mrs. Janet Igho, urged residents to embrace healthy eating habits to sustain a good lifestyle. She stressed the importance of adopting organic practices, highlighting the benefits of going organic, growing organic and consuming organic products.
Igho expressed her optimism regarding the Agricultural Revival Programmes as articulated in President Bola Ahmed Tinubu’s “Renewed Hope Agenda”, which aims at fostering food and nutrition security.
She also extended her gratitude to ARDS for graciously allocating a space in the FCTA premises for the exhibition and sale of organic products, noting that the platform has been effectively used to advance the promotion of organic agriculture in FCT.
Igho outlined several benefits of organic agriculture which includes improved soil health, increased biodiversity, availability nutritious and healthy food and a reduced carbon footprint.
Stakeholders at the summit, underscored the critical need for enhanced private sector involvement and robust capacity building initiatives for farmers.
They highlighted the importance of implementing supportive policies to foster the growth of the organic agriculture sector.
In the light of the significant challenges facing Nigeria’s agricultural landscape, stakeholders decided that organic agricultural practices present sustainable solutions and a pathway for a more resilient and productive farming systems.
The three-day summit featured exhibitions showcasing organic foods, fruits, vegetables and fertilizers, providing an opportunity for residents to better appreciate the benefits of production and consumption of organic agricultural products.
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