Browsing: federal government of Nigeria

• Financing will create more jobs, and reduce national expenditure on the importation of milk and dairy products. It will also improve the nutritional status of Nigerians.
• The credit scheme also seeks to reduce protracted conflict between farmers and herders as well as drive investments in the industry.
• Ministry of Agriculture says plan will improve security and foster harmonious existence between farmers and herders.

Livestock farmers across Nigeria are set to benefit from a $10.8 million credit scheme that seeks to enhance their business value chains and attract more investors in the sector.

According to the Minister of Agriculture and Rural Development, Mohammad Mahmood Abubakar, the $10.8 million credit scheme targeting livestock farmers, will be run by the Bank of Agriculture. 

Mr Abubakar said Nigeria is committed to reforming the livestock sector with notable programmes such as the National Livestock Transformation Plan, and Livestock Productivity Resilience and Support Plan, among others.…

The United Arab Emirates (UAE) has partnered with the Federal Government of Nigeria to bring to an end the illegal gold trade.

The two countries have agreed to track the huge illegal movement of gold from Nigeria to Dubai.

Illegal movement of gold

Reports indicate that there has been illegal movement of huge quantities of gold from Nigeria to Dubai on a daily basis.

The gold, according to the reports, has been passing through UAE police freely and unknown to them that royalties have not been paid to Nigeria.

The disclosure on the partnership between UAE and Nigeria was made by the Minister of Mines and Steel Development, Mr Olamilekan Adegbite.

Bilateral agreement

According to Adegbite, the Nigerian government is currently negotiating a bilateral agreement with the UAE to check every gold entering Dubai from Nigeria.

The agreement made with the Midle East country will see any gold from Nigeria …

A United Kingdom (UK)-based company is set to pump a total of $100 million into Nigeria’s mining sector. Reports indicate that Aurelia Mining Limited has declared it will invest the said amount in gold mining in Nigeria.

The plan was announced by the company’s Director  Mr Julian Hammond on Monday after a meeting with the Minister of Mines and Steel Development, Mr Olamilekan Adegbite in Abuja.

Preliminary gold drilling

According to Mr. Hammond,  Aurelia Mining Limited plans to start preliminary gold drilling in Nigeria to discover the quantity of gold available in the country and attract larger investments.

He said the company will commence small mining operation with five to 10 million dollars first.

“With time, if the gold deposit is big as expected, we will invest about 100 million dollars for the period of 10 to 15 years,” he said.

Hammond added that the company will kick off its …

The Federal Government of Nigeria has restricted importation of sugar into the West African country to three firms only. This is in an effort to protect the sugar industry and boost the local production.

The Central Bank of Nigeria (CBN) through a circular issued on Friday July 16, 2021 said BUA Sugar Refinery Limited, Dangote Sugar Refinery Plc and Golden Sugar Company are the only companies allowed to import sugar into the country through any of the official foreign exchange sources.

This follows reasonable progress made by the three firms in achieving backward integration, a programme introduced by the Federal Government, in the sector.

In the circular signed by CBN’s Director, Trade and Exchange Department, Dr Ozoemena, CBN said that no company outside the aforementioned three firms should be allowed to open Form M or allowed to access foreign exchange from the foreign exchange market to import sugar into the …

Nigeria has made a move to stop the rejection of the country’s crops by other nations.

The move is being spearheaded by the Central Bank of Nigeria (CBN) in collaboration with the International Institute of Tropical Agriculture (IITA), government agencies and private firms.

The plan was announced in a statement that was issued at the end of a one day workshop.

that was organized by Harvest field industries Limited and IITA.

The workshop was aimed at sharing results of aflatoxin levels in maize sampled nationwide under the CBN Anchor Borrowers Programme 2020 Wet Season Project.

The plan to stop the rejection of crops produced in Nigeria follows the adoption of appropriate technologies for the reduction of aflatoxin in crops, food, feeds and livestock which is expected to help achieve zero rejection of commodities exported from Nigeria.

Also Read: Investors to pump $8.4billion into Nigeria’s economy

The one-day workshop in Abuja …