Connect with us

Economy

States Producing 5.7 Million Metric Tonnes of Rice – DFID

Published

on

bags of rice
  • States Producing 5.7 Million Metric Tonnes of Rice

The United Kingdom’s Department for International Development has said that 18 states in Nigeria now produce about 5.7 million metric tonnes of milled rice, bringing the country’s production closer to the seven million metric tonnes projected milled rice requirement for 2016.

According to a report on Growth and Employment in States, which was funded by the DFID, the 18 states were selected based on their contributions to national rice production as per the 2015 Agricultural Production Survey.

The April 2017 report, which was titled, ‘Mapping of rice production clusters in Nigeria’, and was made available to our correspondent in Abuja on Sunday by the Federal Ministry of Agriculture and Rural Development, noted that in the 18 states, rice farming was widely spread across 165 clusters and 2,812 sub-clusters.

It said, “The 2016 total paddy production estimate is put at 17.5 million tonnes with a marketing surplus after post-harvest losses and domestic use of 11.4 million tonnes, equivalent to 5.7 million tonnes milled rice.

“This is just below the total national demand for rice, which was projected to reach seven million tonnes in 2016, and it implies that the country is progressing towards its goal of rice self-sufficiency.”

The report noted that Kebbi State led the pack with the production at 3.56 million metric tonnes for the wet and dry seasons combined, followed by Kano at 2.82 million metric tonnes.

Kebbi produced 2.05 million metric tonnes in the wet season and 1.51 million metric tonnes in the dry season, while Kano produced 1.86 million metric tonnes and 0.96 million metric tonnes during the wet and dry seasons, respectively in the same period.

It, however, stated that only 10 of the 18 states were involved in the dry season production of rice, contributing 26.57 per cent of the total production.

The DFID report stated that a mapping exercise of rice production clusters through researchers’ and enumerators’ visits to rice production locations was carried out in the 18 states, which include Bauchi, Benue, Ebonyi, Ekiti, the Federal Capital Territory, Jigawa, Kaduna, Kano, Katsina and Kebbi.

Others are Kogi, Kwara, Nasarawa, Niger, Ogun, Sokoto, Taraba and Zamfara states.

Commenting on the development, an Abuja-based rice farmer and Head, Modern Agriculture Farms, Mr. Suleiman Kutunku, said Nigeria would have met the seven million metric tonnes target if not for the massive export of locally produced rice.

He said, “The problem we have why you may say we are not self-sufficient is because we allow what we produce to go out of the country. About 50 per cent of our produce is exported out of Nigeria by rice farmers, and this is the major cause for rice scarcity in some areas today.

“Had it been we stopped the export of grains, the rice production of last year alone was okay for us to say that we have attained sufficiency. But many rice farmers needed extra cash and so they preferred selling to other countries in order to make more income, hence depleting the availability of the commodity in Nigeria.

“However, we are very optimistic that in a couple of months, or before the year runs out, we will be self-sufficient in rice production in Nigeria and exporting the commodity will not put such strain on its availability locally.”

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Economy

NNPC Supplies 1.44 Billion Litres of Petrol in January 2021

Published

on

Petrol Importation - investorsking.com

The Nigerian National Petroleum Corporation (NNPC) supplied a total of 1.44 billion litres of Premium Motor Spirit popularly known as petrol in January 2021.

The corporation disclosed in its latest Monthly Financial and Operations Report (MFOR) for the month of January.

NNPC said the 1.44 billion litres translate to 46.30 million litres per day.

Also, a total of 223.55Billion Cubic Feet (BCF) of natural gas was produced in the month of January 2021, translating to an average daily production of 7,220.22 Million Standard Cubic Feet per Day (mmscfd).

The 223.55BCF gas production figure also represents a 4.79% increase over output in December 2020.

Also, the daily average natural gas supply to gas power plants increased by 2.38 percent to 836mmscfd, equivalent to power generation of 3,415MW.

For the period of January 2020 to January 2021, a total of 2,973.01BCF of gas was produced representing an average daily production of 7,585.78 mmscfd during the period.

Period-to-date Production from Joint Ventures (JVs), Production Sharing Contracts (PSCs) and Nigerian Petroleum Development Company (NPDC) contributed about 65.20%, 19.97 percent and 14.83 percent respectively to the total national gas production.

Out of the total gas output in January 2021, a total of 149.24BCF of gas was commercialized consisting of 44.29BCF and 104.95BCF for the domestic and export markets respectively.

Continue Reading

Economy

NNPC Says Pipeline Vandalism Decrease by 37.21 Percent in January 2021

Published

on

Gas-Pipeline

The Nigerian National Petroleum Corporation (NNPC) said vandalisation of pipelines across the country reduced by 37.21 percent in the month of January 2021.

This was disclosed in the January 2021 edition of the NNPC Monthly Financial and Operations Report (MFOR).

The report noted that 27 pipeline points were vandalised in January 2021, down from 43 points posted in December 2020.

It also stated that the Mosimi Area accounted for 74 percent of the total vandalised points in Janauray while Kaduna Area and Port Harcourt accounted for the remaining 22 percent and 4 percent respectively.

NNPC said it will continue to engage local communities and other stakeholders to reduce and eventually eliminate the pipeline vandalism menace.

Continue Reading

Economy

Nigeria’s Food Inflation Hits 22.95 Percent in March 2021

Published

on

food storage

Food inflation in Africa’s largest economy Nigeria rose by 22.95 percent in March 2021, the latest report from the National Bureau of Statistics (NBS) has shown.

Food Index increased at a faster pace when compared to 21.70 percent filed in February 2021.

Increases were recorded in Bread and cereals, Potatoes, yam and other tubers, Meat, Vegetable, Fish, Oils and fats and fruits.

On a monthly basis, the food sub-index grew by 1.90 percent in March 2021. An increase of 0.01 percent points from 1.89 percent recorded in February 2021.

Analysing a more stable inflation trend, the twelve-month ended March 2021, showed the food index averaged 17.93 percent in the last twelve months, representing an increase of 0.68 percent when compared to 17.25 percent recorded in February 2021.

Insecurities amid wide foreign exchange rates and several other bottlenecks that impeded free inflow of imported goods were responsible for the surged in prices of goods and services in March, according to the report.

The Central Bank of Nigeria-led monetary policy committee had attributed the increase in prices to scarcity created by the intermittent clash between herdsmen and farmers across the nation.

However, other factors like unclear economic policies, increased in electricity tariffs, duties, subsidy removal and weak fiscal buffer to moderate the negative effect of COVID-19 on the economy continue to weigh and drag on new investment and expansion of local production despite the Federal Government aggressive call for improvement in domestic production.

Nigeria’s headline inflation rose by 18.17 percent year-on-year in the month under review.

Continue Reading

Trending