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CBN’s Anchor Borrowers’ intervention boosts local rice output to 5m tones–Okoroafor


The Acting Director, Corporate Communications of the Central Bank of Nigeria (CBN), Mr. Isaac Okoroafor, has revealed that the national rice output has risen to about 5 million tonnes. Giving the insights in Awka, the Anambra State capital during a three-day sensitisation workshop for rice farmers said the progress is possible because of the bank’s sustained support using the Anchor ...

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Inclusion of rice, poultry products, beef, in forex restricted 41 items has boosted farming —CBN

Buhari CBN

For the first time in recent weeks after barrage of calls and criticisms on the Central bank of Nigeria (CBN) to review the list of 41 items barred from easy access to forex for imports, the bank has come up to defend the stay of the order, noting that the ban has encouraged Nigerians to go into massive farming. In ...

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Breakthrough as NB completes backward integration in packaging materials


In view of reducing capital flights and increasing local content in production, the Nigerian Breweries (NB) Plc, has attained 99 per cent in sourcing packaging materials locally. Corporate Communications and Brand Public Relations Manager of the company, Mr. Patrick Olowookere, in an interview at the Ibadan brewing plant said the percentage covered locally manufactured cans, crown corks, crates, bottles and ...

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Dizengoff boosts farming in Nigeria with new multipurpose solutions, tractors

Dizengoff Nigeria

Leading global agricultural solutions provider, Dizengoff Nigeria, has unveiled different ranges of CASE IH brand of tractors in Abuja as part of efforts to push up the nation’s quest to food sufficiency. Explain the reasons behind the new agro machineries, chief executive and Country Manager for Dizengoff Nigeria, Mr. Antti Ritvonen, said the new tractors are introduced to help drive ...

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Preliminary signs of possible crash of 2017 budget emerging gradually


With recent bickering, claims and counter claims zooming out from both the ministers and the National Assembly members, national budget analysts are beginning to see reasons on why the implementation of 2017 budget may be marred with early failures. First of all, the early signs came from the delay in assenting the budget passed by the National Assembly. Shortly after, ...

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FG silent on revoking licences as Indonesian firm indicates interest to build refinery


More than two months after the federal government warned that it will soon begin the revocation of private oil refinery licenses issued by previous administration to about 14 companies, nothing has been heard. However, an Indonesian firm, PT Intim Perkasa Nigeria Limited, a subsidiary of PT Intim Perkasa, on Thursday in Abuja, signaled interest to build a refinery in Nigeria. ...

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NIMASA set to seal MoU deal with Ghana to grow regional maritime industry


Indication has emerged that the Nigerian Maritime Administration and Safety Agency (NIMASA) is set to provide support to the Ghana Maritime Authority (GMA) through a proposed Memorandum of Understanding (MoU). The areas being considered for the MoU are; regular knowledge sharing and knowledge transfer, capacity building initiatives and Cabotage implementation/enforcement processes. Director General of NIMASA, Dr. Dakuku Peterside made this ...

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Chinese competition in construction pushing Julius Berger into oil, gas industry


Leading construction giant, Julius Berger Nigeria Plc has given hint on plans to diversifying into oil and gas industry. Construction industry pundits say the move stemmed from sustained stiff competition from Chinese construction groups which have been raking in jobs that would have ordinarily gone to Julius Berger in the last few years. Trouble may have began for the construction ...

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FG to reduce cost of fertilizer for rice farmers, silent on Morocco deal prospects

Udoma, Buhari, Adeosun

Three months after the federal government sealed a supply deal with leading fertilizer manufacturing country, Morocco, there has been nothing to show as price of the commodity remains at rooftop in Nigeria. However, the Minister of Budget and National Planning Udoma Udo Udoma on Wednesday said the government is working toward reducing the price of fertilizer to cut down the ...

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Endless concession of Ajaokuta Steel reenacted with fresh counter by Indian group

Ajokuta steel complex

At a time the peace accord signed by the Federal Government and the Indian firm, Global Infrastructure Nigeria Limited (GINL), for the resolution of the Ajaokuta Steel Company’s legal tussle was expected to yield, the company has come up a new twist. Findings show that the new move by GINL may frustrate covered grounds in the resolution. Currently, the implementation ...

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