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Nigeria Producing 60% of Seeds in West Africa, Others – NASC

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  • Nigeria Producing 60% of Seeds in West Africa, Others – NASC

Nigeria accounts for over 60 per cent of seeds traded and used in West Africa and some parts of East and Central Africa, the National Agricultural Seeds Council has said.

According to the council, additional 158 new seed entrepreneurs have been added to the existing players in the Nigeria’s seed sector in order to bridge the country’s seed supply gap.

The Director-General, NASC, Phillip Olusegun, who disclosed this at the head office of the council in Abuja, also stated that the seed industry was experiencing tremendous growth.

He said, “We continually dominate and extend our share of the seed landscape in the sub-region. Nigeria’s seed industry accounts for over 60 per cent of seeds traded and used in the West African sub-region and some parts of East and Central Africa.”

On the new seed entrepreneurs, Olusegun said, “The governing board of the NASC has approved the licensing of 158 new seed entrepreneurs of different categories to add to the existing 156 already in operation.

“Why additional entrepreneurs? The question may arise in the minds of watchers of the industry. But I want to assure you that this is borne out of the determination to allow many qualified entrepreneurs to explore the budding liberalised landscape of the seed industry.”

He explained that presently the seed supply-demand gap was still wide and there were more calls from neighbouring countries that look up to Nigeria for their seed supply.

“This underscores the point that the industry is not yet saturated as some may think,” he added.

Olusegun said the governing board of the NASC was not just concerned about the numbers but the quality, adding that the council was very critical of the quality of seed being churned out to farmers.

He said, “In view of this, we conducted a recertification exercise. This is done periodically for all initial 156 companies in a bid to evaluate and assess their infrastructure, personnel and capability, production capacity and operational efficiency to ascertain if they still meet up their status or rating.

“The result of this exercise led to the upgrading of six companies that had improved their infrastructure, quality assurance systems, and personnel while 75 were downgraded.”

Olusegun said the downgrade, which could be traced to the lull in the seed industry, owing to a backlog of debts owed to the companies, did not mean weakness in the industry but was strategic.

“It is to checkmate the activities and promote desire for quality and healthy competition among entrepreneurs,” he said.

He also said most of the newly licensed companies were not entirely new in the business but were mostly out-growers, with long years of experience, and had acquired necessary facilities in the relevant categories they had been classified into after due assessment by the NASC.

The NASC boss said, “With these new entrants, the board has approved 16 new small-scale companies, 133 producer and seller entrepreneurs and nine seed dealers.

“In all, the country now has 314 seed entrepreneurs, made of four large-scale, seven medium-scale, 39 small-scale, 223 producer sellers, and 20 seed dealers.

“Also worthy of mention is the fact that during the last recertification exercise, 21 seed entrepreneurs were approved by the board to be classified as inactive. This means they cannot participate in seed-related activities until the council reassesses and recertifies their facilities.”

This, according to Olusegun, does not mean their licences have been revoked, hence their inclusion in the number of companies.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Africa’s Richest Man, Aliko Dangote Ready to Sell Refinery to Nigerian Government

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Aliko Dangote, Africa’s wealthiest entrepreneur, has announced his willingness to sell his multibillion-dollar oil refinery to Nigeria’s state-owned energy company, NNPC Limited.

This decision comes amid a growing dispute with key partners and regulatory authorities.

The $19 billion refinery, which began operations last year, is a significant development for Nigeria, aiming to reduce the country’s reliance on imported fuel.

However, challenges in sourcing crude and ongoing disputes have hindered its full potential.

Dangote expressed frustration over allegations of monopolistic practices, stating that these accusations are unfounded.

“If they want to label me a monopolist, I am ready to let NNPC take over. It’s in the best interest of the country,” he said in a recent interview.

The refinery has faced difficulties with supply agreements, particularly with international crude producers demanding high premiums.

NNPC, initially a supportive partner, has delivered only a fraction of the crude needed since last year. This has forced Dangote to seek alternative suppliers from countries like Brazil and the US.

Despite the challenges, Dangote remains committed to contributing to Nigeria’s economy. “I’ve always believed in investing at home.

This refinery can resolve our fuel crisis,” he stated, urging other wealthy Nigerians to invest domestically rather than abroad.

Recently, the Nigerian Midstream and Downstream Petroleum Regulatory Authority accused Dangote’s refinery of producing substandard diesel.

In response, Dangote invited regulators and lawmakers to verify the quality of his products, which he claims surpass imported alternatives in purity.

Amidst these challenges, Dangote has halted plans to enter Nigeria’s steel industry, citing concerns over monopoly accusations.

“We need to focus on what’s best for the economy,” he explained, emphasizing the importance of fair competition and innovation.

As Nigeria navigates these complex issues, the potential sale of Dangote’s refinery to NNPC could reshape the nation’s energy landscape and secure its energy independence.

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Dangote Shelves Steel Project to Prevent Monopoly Allegations

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Aliko Dangote, chairman of Dangote Industries Limited, announced the company’s decision to halt plans to enter Nigeria’s steel industry.

The decision comes just two months after the conglomerate had initially unveiled its intentions to invest in the sector as part of efforts to expand the economy.

Addressing journalists at his refinery in Lagos, Dangote explained that the board’s decision was driven by concerns over potential accusations of creating a monopoly.

“We have decided against pursuing the steel business to avoid being labeled a monopoly,” Dangote stated.

He explained that the company’s operations focus on adding value by transforming local raw materials into finished products.

The industrialist dismissed claims that his group enjoys monopolistic advantages, pointing out that their business practices have always fostered a competitive environment.

“When we entered the cement market, Lafarge was the only player, yet no one accused them of being a monopoly,” he stated.

Dangote further encouraged other Nigerian investors to explore opportunities in the steel industry, suggesting that there are ample resources and space for new entrants.

“There are many Nigerians with the financial capacity to invest. They should seize this opportunity to contribute to our nation’s growth,” he urged.

The billionaire’s call to action extended to Nigerians living abroad, inviting them to invest in their homeland.

“Bring your resources back from Dubai and other parts of the world and invest in Nigeria,” he said, reinforcing his commitment to seeing the country’s economy thrive through diverse contributions.

This decision marks a strategic shift for Dangote Industries, focusing on dispelling monopoly myths and promoting a collaborative business landscape.

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Goya Foods Takes Legal Action to Assert ‘Goya Olive Oil’ Trademark Ownership

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“Goya Olive Oil” trademark in Nigeria, Goya Foods Incorporated has initiated legal proceedings against the Registrar of Trademarks under the Federal Ministry of Trade and Investment.

The case, numbered FHC/ABJ/CS/883/2023, was brought before the Federal High Court in Abuja.

Goya Foods, a prominent producer and distributor of foods and beverages across the United States, Spanish-speaking countries, and Nigeria, seeks to enforce a longstanding consent judgment issued by the court in December 2006.

The judgment directed the Registrar to rectify the Trademarks Register to reflect Goya Foods Incorporated as the rightful owner of the “Goya Olive Oil” trademark, without any further formalities.

The lawsuit, exclusively revealed to sources, underscores Goya Foods’ determination to safeguard its intellectual property against alleged infringements.

According to court documents, Goya Foods obtained the consent judgment against Chikason Industries Limited, which was accused of marketing “Goya Olive Oil” in Nigeria, thus infringing on Goya Foods’ registered trademark.

Legal counsel for Goya Foods, Ade Adedeji, SAN, emphasized the necessity of rectifying the Trademarks Register to protect their trademark interests effectively.

Despite appeals to the Registrar, the requested rectification has not been implemented, prompting Goya Foods to escalate the matter through legal channels.

The case has been adjourned to September 27, 2024, for further proceedings, highlighting the complexity and significance of trademark disputes in the global marketplace.

Goya Foods remains committed to upholding its brand integrity and securing its proprietary interests amidst the evolving landscape of international trademark law.

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