Agricultural export is a multibillion-dollar business and has the potential to attract $40bn into the Nigerian economy every year, according to stakeholders in the non-oil export sector.
Speaking during the OG2 Conference on Export Trade, the stakeholders maintained that agriculture had what it takes to save the economy.
In his keynote address, agribusiness strategist, Mr. Sotonye Anga, stressed the need to boost production and add value to Nigeria’s agricultural exports.
He said, “If we take agriculture seriously and deliberately build our capacity in production, processing and marketing of agricultural products, we can generate and earn $40bn annually as revenue.”
He canvassed greater focus on value addition to farm produce as opposed to exporting them in their raw state noting, “Exporters can earn more by adding value to farm produce. As agribusiness people, our wealth comes from growing the crops, selling them and everything in-between.”
The Managing Director, OG2 Tech Consult and Investment Limited, Godwin Okoh, who is the organiser of the conference, said his company had discovered a knowledge gap in the export business which it aimed to bridge.
He said, “Our aim is to bridge the gap by providing relevant information and skills to young entrepreneurs. The non-oil sector is very lucrative currently and we want people to have information about the potential of agribusiness and how to be agro-exporters.
“We want young entrepreneurs to know how to use the opportunities in the sector and how to make money from Nigeria’s numerous cash crops.”
Julius Berger Diversifies into Agro-processing
Julius Berger Steps into Agro-processing to Seize Diversification Opportunity
Julius Berger, a leading construction company in Nigeria, said its board of directors has approved a diversification opportunity for the firm in agro-processing.
The approval was done at a meeting held on September 22, the company stated in a statement filed with the Nigerian Stock Exchange on Thursday.
Julius Berger said the approval would help the company capitalised on diversification opportunities in the agro-processing industry, especially with the emerging developments in Nigeria and government ongoing reforms to make the nation self-sufficient.
The statement read in part: “We would advise the exchange and the capital market that the Board of Julius Berger at its meeting held on September 22, 2020 approved a diversification opportunity for the company in agro-processing.
“The Board of Directors and the executive management of Julius Berger strongly believes that this diversification direction would support the continued success of the group in the future and align with the strategic objective of the government to stimulate value creation in Nigeria.”
However, Julius Berger reiterated its commitment to maintaining and strengthening its leadership in the nation’s construction sector.
Some Nigerians Are Charging Ship Owners Illegal $36,000 Per Month for Secure Anchorage
Ship Owners Are Paying Illegal $36,000 Per Month for Secure Anchorage in Nigeria
Mr. Rotimi Amaechi, the Minister of Transportation, on Thursday said certain people are charging ship owners illegal $1,200 per day for secure anchorage in Nigeria.
The minister registered his displeasure with continuous patronage of illegal harbours known within the circle as secure anchorage areas.
Amaechi, who spoke at the ‘2020 World Maritime Day Celebration which held at Eko Hotel and Suites in Lagos’ said the issue was unsettling.
He said, “There is a crisis in the maritime sector. The crisis is on the issue of security.
“Today, we have a single individual partnering with the military that is collecting $1,200 to the detriment of shipping companies.
“That one individual is still managing the business with support of other institutions.”
The minister also accused stakeholders of doing nothing to these individuals, saying only the government had the right to step up secure anchorage area
174,574 Persons Apply For COVID-19 Support Fund Within 48 Hours
Survival Fund: 174,574 Persons Apply For COVID-19 MSME Support
More Micro Small and Medium Enterprises (MSME) has applied for Federal Government financial support under the Nigeria Economic Sustainability Plan.
According to the agency in charge of the program, within 48 hours of opening the registration portal of N75 billion National Survival Fund, a total of 174,574 applications were successfully registered for both the Guaranteed Off-take Stimulus and Survival Fund schemes.
The schemes were instituted to support businesses and individuals negatively impacted by the COVID-19 pandemic.
Mariam Katagum, Minister of State for Industry, Trade and Investment, on Thursday in Abuja said as at “8.30am this (Thursday) morning, total successful registrations stood at 174,574.”
She further stated that “the following states have the highest applications as follows, Kano, 19,895; Kaduna, 13,575; Lagos, 13,640; Katsina: 8,383; Federal Capital Territory, 8,085.”
Katagum said about 138,000 applications were registered within the first 24 hours of opening the portal, these applicants created profiles and completed the first stage of registration with Kano, Kaduna and Lagos emerging as lead states.
She explained that all successful applicants were sent SMS and email verification with a list of requirements for the second stage of application which would commence on October 1, 2020.
“Applicants will be required to upload details supporting their applications which will be verified and if successful, approved for disbursements,” the minister stated.
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