Imported Agric Products Rose by 33% in Q3 - NBS

The volume of imported agricultural products rose by 33 percent in the third quarter of the year (Q3 2016), the National Bureau of Statistics (NBS) stated monday.

It added that raw materials imports grew 60 percent above the level in Q2While imported solid minerals grew 68.5 percent compared to the previous quarter.

The statistical agency further stated in its 3rd Quarter 2016 External Trade News: Trade Intensity Index/Re-Exports Analysis, which was released yesterday that the value of exported agricultural products rose by 5.30 percent relative to Q2., while imported raw materials was 32.05 percent higher in value than the previous quarter.

Essentially, the report serves to complements the quarterly trade reports- particularly the Q3 foreign trade statistics released recently, by providing a clearer analysis of sectoral classification of imports and exports at a more aggregated level, without crude oil and oil products which tend to distort and disguise other trade patterns due to their size.

In the new analysis by the NBS, wood fuels are separated from mineral fuel which was classed in the same category with crude oil and other oil products.

It further enhances the regular trade report by deepening trade analysis by introducing the concept of re-exports and trade intensity, according to the NBS.

Nevertheless, other oil products grew by 43.3 percent in the period under review compared to Q2 estimates while solid minerals exports grew by 220.96 percent.

The NBS said the value of manufactured products exports was also 21.86 percent more than the record in Q2 while crude oil exports rose 30.86 percent in Q3.

Nigeria’s external trade totaled N 4.72 trillion in Q3 and consisted of exports worth N2.30 trillion and imports valued at N2.41 trillion, indicating a slight negative trade balance of N104 billion.
Crude oil exports accounted for N1.94 trillion or 4.2 percent of total trade.

According to the NBS:”The Country’s import intensities were also high with India (2.57, 2.49 and 1.28) and the Netherlands (4.38, 2.57 and 1.04) during the same months.

However, the import intensity of Nigeria with United States and Spain were lower, with indices less than one other than for Spain in August.

This is possibly a result of the mix of products imported from these countries, which may have been affected more by the CBN import regulations.”

Expect Big Revolution in Agribusiness in 2017 – Dangote

The President of Nigeria Agribusiness Group, NABG, Sani Dangote, has expressed optimism over massive revolution in agribusiness in 2017 based on collaborations and synergies formed by the Federal Government and the group.

 

Dangote stated this at the 2nd Annual General Meeting of NABG in Abuja, where he also disclosed that NABG Presidential Committee in partnership with the Federal Ministry of Agriculture and Rural Development were working hard to jump-start and catalyze a roadmap on the implementation of the recently launched Agriculture Promotion Policy, APP, tagged: “Green Alternative,” which will propel the expected revolution in Nigeria’s agribusiness within the next 12 months.

He acknowledged and said with President Muhammadu Buhari leading the revolution in the sector and willingness to engage the organised private sector in renewed drive to diversify the economy through transformation of the agricultural sector, agribusiness will experience a boom and farmers’ living standard will improve.

He said: “Agriculture in Nigeria is still done the way it was done in the 1960’s probably before 1960. But within the next 12 months, we will experience a dramatic revolution in agribusiness.

“The government of President Buhari has started listening. We have engaged the office of the Vice-President, we have also engaged the office of the Minister of Agriculture and Rural Development, and they have agreed to engage NABG to fashion out the way forward for the next 12 months.

“We have proposed focusing on industrial food and non-food ingredients manufacturing, and value added processing of staple foods (crops, livestock and fisheries) into packaged, convenient and nutritious food products for domestic consumption and export markets to create jobs, drive competitiveness and significant increase in generated revenue base at the state level.

“We have proposed a shift from incentivising commercial banks to lend to agriculture to directly incentivising structured cooperative farmers through off-take markets and price stabilisation mechanism.

“We have proposed a strengthening the cooperation platform of the current Central Bank of Nigeria, CBN, and State driven Anchor Borrowers Programme by shifting to the concept of private sector focused programme through recapitalisation of Bank of Agriculture, NISRAL and Bank of Industry.

“These are some of the proposals we have made to the federal government that we believe, if they follow what we have advised to be done, in 12 months, we will see a big revolution in agribusiness and it will turn out to be a big business, and not a mere formality in service and practice.”

The agro-investor also expressed optimism that with the proposed roadmap for the sector, the expected revolution will bring interest rate for agriculture and agribusiness financing down to five per cent or less in 2017 for more attraction of investors.

NRCRI empowers 20,000 on Root and Tuber crops value addition

The National Root Crops Research Institute (NRCRI), Umudike, Abia State, has trained and empowered over 20,000 rural women and youths on Production Technologies and Value Addition to Root and Tuber Crops.

Executive Director of the institute, Dr Julius Okonkwo, announced this at a three-day training workshop organised for 120 rural women and youths of six host communities at Awom Na Ebo Secondary Technical School, Amawom in Ikwuano Local Government Area of the state.

He expressed that the training was part of efforts to complement Federal Government’s efforts to reduce poverty and unemployment.

Highlighting core aspects of the training, Okonkwo noted that with the new technologies for income generation and improved, disease resistant cassava and sweet potato varieties, the farmers would be able to kick-start their own enterprises.

“We expect the trainees to effectively use the knowledge they acquired to create wealth and employ members of their families in the business”.

The Guardian reports that the Executive Director also pledged support of the NRCRI to empower the farmers, using technological innovations to encourage their entrepreneurial interest to boost food supply.

Farmers do not need Huge Capital to succeed in Agriculture

Representatives of the West Africa Agricultural Productivity Programme (WAAPP), a World Bank assisted Programme have revealed that farmers do not need massive capital to be successful in agriculture.

Professor Victoria Ayuba, who led the delegation on a World Bank Mission Support visit to the Federal College of Agriculture, Akure adopted communities and schools made this statement while addressing the students and community members.

“Many people often complain that finance is the major constraint against their involvement in the scheme, but I can tell you emphatically, that is not true. With very little money, they can start something very big in agriculture,” she said.

Ayuba noted that the visit was to assess the impact of the World Bank assisted programme -with member-countries of the Economic Community of West African States (ECOWAS) to make agriculture more sustainable and productive.

Lauding various projects executed by WAAPP-FECA, Ayuba, who is also the current Dean, College of Forestry and Fishery, University of Agriculture, Makurdi avowed that the farmers were maximizing the training WAAPP had giving them.

“They are expanding on their own; even if there is no WAAPP today, there is no cause for alarm because they are doing what they are supposed to do with very small capital: money is entering their pockets in several ways.

She further encouraged the youths and other farmers to utilize the opportunities in the sector and become employers of labour.

Correspondents from the Guardian also reports that The delegation also visited the Agricultural Research Outreach Centre (AROC) in Owode, Ibulesoro, Eleyowo to inspect the fisheries, cassava value chain opportunities; and the adopted School, Aquinas College, Akure, where the Young Farmers Club are making money in agro-products.

Farmers get Reward in Candel’s Be A Millionaire Promo

The Candel Company Limited has rewarded farmers in the last stage of its Be A Millionaire Promo, derived from the Cleanfarms project.

The Managing Director, Emmanuel Kattie expressed that the promo was launched not only to keep the environment clean, safe and enhance farmers’ welfare, but also to create excitement, enhance productivity, efficiency and output for both farmers and trade partners.

“It’s a project designed to rid farms of herbicide bottles and remnants of agrochemicals that pose significant health hazards to the ecosystem,” he said.

Kattie said the promo which kicked off in May has rewarded 60 farmers with 48 generators and 12 Tricycles.

Winners of the grand finale draw for the generator sets and tricycles were selected electronically from the six-geo political zones in Nigeria while the N1,000,000 star prize was drawn randomly to give every farmer an equal chance.

Also speaking the Founder and Chairman of the Candel Limited, Charles Anudu said the company did the right thing by withdrawing the bottles from users.

“We saw people using the empty bottles to store water and other consumable things, which is harmful and we needed to destroy them because they are harmful to mankind.”

Anudu posted that the only way to enforce it is by asking the farmers to return the bottles and get cash reward.