FG to provide more funds to Agriculture- Buhari

President Buhari over the weekend said that the FG which has created measures to diversify the economy will sustain these measures by providing more funds to agriculture in the 2017 budget.

While speaking to reporters in Nairobi, Kenya over the weekend on the margins of the sixth Tokyo International Conference on African Development (TICAD VI), He said African nations had a lot to learn from Japan on the development of the agricultural sector.

According to him, the FG intends to put in more resources in 2017 budget, with focus on the procurement of machinery for land clearing, fertilizers, pesticides and training of less-educated farmers, as farm extension instructors.

He went to say that some success has already been recorded this year in a number of states, as the government identified 13 states that will be self-sufficient in the production of rice, grains, and wheat before the end of 2018.

“We are positive that soon we will be able to export those food products. We are also lucky that the farming season in the northern part of the country has been very good and we are expecting a bumper harvest this year,” the president said.

The president said that African countries should take a cue from Japan in the area of rapid economic growth, hard work and advanced technology and that these factors should encourage Africans to work harder and solve its development challenges.

The President also requested for Japan to increase participation in the Nigerian economy.

How to get Agricultural grants in Nigeria

     Image result for cbn

With more people going into the Agricultural sector, it is no longer news that the sector has started yielding positive results. Agriculture has been identified as the largest employer of labour, especially in Nigeria. The Government is also encouraging more people to go into the sector by giving loans and grants to potential agriculturists.

Nigeria has about 84 million hectares of arable land and out of that number, only 40% has been cultivated. The climate condition in Nigeria makes it possible to grow crops like groundnut, cassava, palm oil, etc

Two things that give entrepreneurs dilemma when trying to invest in agriculture are

  1. What type of agriculture business to venture into?
  2. How to raise capital for the intended agricultural business?

We will focus on the second issue as this article will explore some government grants and loans available to Nigerian farmers.

  1. CBN Agricultural loan: The loan scheme which is being set up by the Federal Government provides low-interest loans to farmers in Nigeria. The bank recently disbursed N75 million as loans to farmers and cooperative societies in the 36 states including the FCT. This loan can be accessed through the Bank Of Agriculture.
  2. Bank of Agriculture (BOA) loans: The bank which is owned by the federal government with the Central Bank of Nigeria and the Federal Ministry of Finance incorporated as shareholders provide loans and grants to the public for the purpose of agriculture. The requirement for accessing this loan can be found on their website http://www.boanig.com/boa/products-and-services. It is important to note that the requirements for obtaining a loan from BOA are subject to negotiations and may depend largely on the feasibility of your agricultural venture.
  3. Agricultural Co-operative societies: If you are worried about all the requirements of obtaining a loan from BOA or commercial banks that have partnered with BOA, then cooperatives societies come in handy as they are the surest and easiest means of securing agricultural loans. But to access these loans granted by cooperative societies, one will have to join them. Some of the notable agricultural cooperative you can join include the following:
    1. All Farmers Association of Nigeria (AFAN).
    2. Youth Empowerment in the Agricultural Program (YEAP);
    3. FADAMA.

It is simpler for a cooperative to access government loans and grants from commercial banks, the basic requirement includes the following:

  1. Form  a cooperative society;
  2. Fill and submit a loan application. The application must be signed by the cooperative’s representative and also a letter must be written in cooperative’s letterhead.
  3. Submit a detailed feasibility study on the business.

 

reference: Naij.com

 

Sesame Seed!!! A business worth going into.

 

 

 

 

 

 

 

 

The current trend shows that more people are getting into agriculture, aside just getting into agriculture to produce for local consumption and make money from the sector, some agriculture businessmen are also producing to export their agricultural produce.

Today, we will talk on Sesame Seed and why you should consider doing a business in Sesame business.

So what is Sesame? According to Wikipedia, “Sesame is a flowering plant in the genus Sesamum, also called benne”.  it can be found in temperate and tropical regions of the world. It is highly tolerant to drought and can grow where other crops fail.

Sesame seed is one of the world’s oldest oilseed crop ever known, spanning over 3000 years. It is protected with a coat which is fibrous in nature and its variety comes in two colorations which could be brown and white.

Sesame has one of the highest oil contents of any seed and it is between 44%-60%.  The Sesame seed is cultivated twice in a year, the first planting is usually done between April and May and the second planting is done between August and September.  Based on the period of cultivating, the first harvesting is between July and August while the second harvesting is between November and December.

The seed is an important source of vegetable oil, which contains no Cholesterol. It can also be used in the pharmaceutical, cosmetics, and confectionery industries.

In identifying your buyers, it is important to know what your buyers (in different regions) call it. Whilst the global name is Sesame, the Indians call it” till”, In western and eastern Africa, it is called “benniseed” and “simsim” respectively. Back in Nigeria, the northerners call it “Ridi”; in Benue state, the Tivs, Idomas, and Igalas call it “Ishwa”, “Ocha” and “Igogo” respectively. The Yorubas refer to it as “Ekuku” or “Eeku”.

All around the world, there are 4.8 million tonnes of Sesame seed produced. In Africa, Nigeria is the seventh (7th), largest produce after Ethiopia and Sudan. The top importers are China, Turkey, Japan, South Korea, and Isreal.

Nigeria currently produces about 300,000 tonnes of Sesame Seed, the largest producing state include Nassarawa, Jigawa, Benue, and Taraba state

If you are thinking of going into farming and exporting Sesame Seed, you should start with learning to understand the best practices and how to get improved seeds. If you want to own the farm rather than buy directly from the farmer, then it will be better to site your farm in Taraba State with its two farming cycles a year. It is important to note that Taraba state is the only state with this unique feature as mentioned above. You can also have farms in Jigawa, Niger, and Bauchi.

When you want to get a land, think of space to production ratio. It is advisable to get a hectare of land that can produce between 1-1.5 tonnes of Sesame Seed. You will also do Land preparation, seeds, fertilizer planting, and harvesting. You can either do your planting with a mechanical planter in ridges or by broadcasting on plain land. For a hectare of land, you will require 4kg f seed, 4 bags of NPK and 1 bag of urea.

As you already know, there is an available local and international market, Nigeria Sesame Seed are majorly exported to India, Japan, China, and Turkey. In Europe, countries like Poland and The Netherlands receives Nigerian Sesame Seed but in small quantities. The Middle East has started to show interest in Nigeria’s Sesame Seed and we should expect an increase in demand from the UAE, Saudi Arabia, and Kuwait.

 

What are the Agricultural products Nigeria exports?

Nigeria is known as an Oil producing country and it sure makes a lot of money from the oil industry, but in as much as the sector is responsible for contributing immensely to the GDP, it is not the only natural resource that keeps the Nigerian Economy moving.  Agricultural products also contribute to the Nigerian economy, it does not only provide and supply food to Nigerians but also export crops and fruits to other countries as well.

According to Naij.com, “the agricultural sector is considered the strongest and most developed branches of the economy in Nigeria. Up to 30% of the population is engaged in this industry”. Across the country, you will find small, medium, and large-scale businesses involved in the agricultural sector and given the diverse nature of the Nigerian climate, which varies from tropical and sub-tropical climate, it is easy to grow almost all agricultural products in the every region.

Agricultural products in Nigeria can be divided into two groups namely;

  • Agricultural products produced for national/ local consumption.
  • Product for export.

The article will focus on the top agricultural products that are exported to other parts of the world.

Palm Kernal Oil Extracts

Due to its use in the production of various types of cosmetics, there is a commercial demand for it. Not only can you use it for cosmetic production, you can use it to cook food due to the fact that it contains minerals and proteins.

Sesame Seed

Sesame is in the second place of products that are exported from Nigeria and the country is ranked the 5th largest producer of sesame seeds in the world. This product is usually produced in Benue and Jigawa state as it can not be found in other regions of Nigeria.

Yam

Nigeria started exporting yam in July 2017 when it exported 72 metric tonnes of yam to the UK and US. Nigeria accounts for 61% of the total output of yam in the world, a fact that is credited to the Food and Agricultural Organization.

Cashew Nuts

Nigeria has a high volume of unprocessed raw cashew nuts, and the government is looking at the possibility of processing these nuts before there are exported. At the moment, the unprocessed raw cashew nuts are shipped to Brazil, India, and Vietnam, where they are processed into kernels and then shipped to Northern America or Europe.

Chilli Pepper

Chilli pepper is a spicy component that is on demand in Asia and Africa. This product can be produced all year due to the favorable weather conditions.

Cassava

Nigeria accounts for 20% of the world’s cassava production and about 34% of Africa’s production. Mostly grown in the southern part of the country and it is mainly cultivated by small-scale farmers and is used only by the local population.

Shrimps

With high demand in countries like Portugal, France, Belgium, Spain, and the USA, Shrimps which are being produced in Nigeria for local consumption can also be exported for gains. In recent years, Nigerians have built special farms to produce shrimps which do not only cater for local consumptions but also export to other countries.

 

Ref: Naij.com

 

 

FG releases 5000 improved Cocoa seedlings to Adamawa state farmers

The Federal Government has released 5,000 improved Cocoa seedings to Adamawa Government who are to distribute these seeds to farmers. This was released through the National Cocoa Production Programme.

Mr. Ilyasu Mu’azu, who is the state desk officer, National Cocoa Production Programme said these in an interview with the News Agency of Nigeria (NAN) on Tuesday in Yola.

Mu’azu said that the distribution of Cocoa seeds was part of the Federal Government economic diversification programme.

“After nursing the 5,000 improved seedlings for the next four months at the National Cocoa Production Centre in Toungo Local Government Area.

“Government will then sell it out to the farmers at subsidized cost to support them to produce more,’’ Mu’azu said.

He also said that government has also provided pesticides, fungicides and spray machines at subsidized rates to the farmers.

Till date, the Nigerian Export Promotion Council had trained over 200 farmers on Cocoa beans processing, packaging, and transportation in 2015 following complaints by farmers in the state.

ref: pmnews.

Why Investing in Agriculture is Important

 

 

 

 

 

 

 

 

 

 

 

 

Hello readers,

As human beings, we are constantly seeking for a better life, and to many of us, a better life can mean a lot of things. But as a people, we often overlook the first job man ever did (if we go according to the bible) which is agriculture. Do you know that agriculture gave birth to different types of jobs?

Agriculture is ensuring that edible food is being produced and if man didn’t cultivate the land to produce food, people will starve and die of hunger. Even Abraham Maslow in his theory of motivation listed food as one of the important motivator. Let’s be honest, everyone needs food to start the day and if not at the start of the day, at some point during the day, man must eat.

With a population of over 180 million and an area covering 923,768 km2, Nigeria offers an investment opportunity to anyone who is seeking to invest in the agricultural sector. Aside from local distribution, agricultural produce can be exported to other countries. The GDP from Agriculture in Nigeria increased to 3745091.59 NGN million in the second quarter of 2017 and is expected to reach 5270000.00 NGN million by the end of the 3rd quarter.

The government is currently putting policies in place that will motivate investors to come into this sector. This is the time to come into the agricultural sector as not only will you be making money but will also be providing food to Nigerians.

FG to Optimize Aquaculture For Economic Wealth and Job Creation – Lokpobiri

The Honourable Minister Of State for Agriculture and Rural Development, Sen. Heineken Lokpkobiri has attended a high level meeting of key leaders and Ministers of Fisheries and Global Seafood Sectors in Iceland.

The concept of the meeting in Iceland is to further enhance the blue Bio-economy, with the aim of optimizing economic use of our oceans and aquatic resources. The theme of the meeting was “ promoting the Blue Bio-economy, making best use of ocean opportunities”. The meeting was organized in collaboration with the Food and Agriculture Organization of the United Nations (FAO).

Senator Lokpkobiri who led the Nigerian delegation, in his submission said the present Administration of President Muhammadu Buhari has greatly expanded her political momentum that has resulted in the development and promotion of the implementation of the backward integration in aquaculture, thereby increasing wealth creation, economic gains and happy individuals and families in Nigeria today.

The minister said the background and objective of the forum on Bio-economy has over the last decade become a widely used term in global policies which are related to various issues such as food security, sustainable production, and energy needs.

The Blue Bio-economy is the blue sector of the economy, focusing on initiatives and applications being applied in fisheries and fish processing, aquaculture, coastal tourism, marine Biotechnology and other related sectors.

The concept of a “blue economy” came out of the 2012 Rio + 20 conference, this has played an important role in achieving the post-2015 Global Sustainable Development Goals (SDG’s).

The world seafood congress 2017 attracted over 500 seafood professionals from around the globe. There were international expert ,speakers, keynote presentations and industry specific fisheries presentations, panel discussions and workshop sessions.

Lere-Adams, A.B

Acting Director (Information)

FMARD

18-09-2017

Source: http://fmard.gov.ng/fg-optimising-aquaculture-for-economic-wealth-and-job-creation-lokpobiri/

The Prices of Cassava stems reduced by 67%

The price of cassava stems has dropped drastically to N400 per bundle after reach a high of N1200 as demand eases in Nigeria.

In 2016 and earlier 2017, the prices of cassava roots and its derivatives such as garri climbed to an all-time high as demand was higher than supply.

Researchers are still expecting data on demand and supply from the National Bureau of Statistics, but cassava roots moved from N13,000 per ton to about N40,000, according to local buyers.

Cassava is an important crop in Nigeria and the roots are processed to starch, ethanol, flour, and garri—a staple. Other uses include akpu, and lafun. In some communities, the root is boiled and eaten directly.

In 2014, about seven million hectares were planted with cassava, according to the Food and Agriculture Organisation.

Most of the varieties planted to cover this hectarage were from the informal sector, says Peter Kulakow, Cassava Breeder with IITA who is also working on the cassava seed systems project.

The Nigerian cassava seed system is not well structured, an arrangement that the project—Building an Economically Sustainable Integrated Seed System for Cassava (BASICS) – is trying to correct.

 

Source: http://www.premiumtimesng.com/agriculture/agric-news/243196-prices-cassava-stems-reduce-67.html

Nigeria GDP From Agriculture 2010-2017

GDP From Agriculture in Nigeria increased to 3745091.59 NGN Million in the second quarter of 2017 from 3385600.83 NGN Million in the first quarter of 2017. GDP From Agriculture in Nigeria averaged 3687637.99 NGN Million from 2010 until 2017, reaching an all time high of 5035069.06 NGN Million in the third quarter of 2016 and a record low of 2594759.86 NGN Million in the first quarter of 2010.

HISTORICAL

Nigeria GDP From Agriculture

Quarter 3 Forecast

GDP From Agriculture in Nigeria is expected to be 5270000.00 NGN Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP From Agriculture in Nigeria to stand at 3687757.53 in 12 months time. In the long-term, the Nigeria GDP From Agriculture is projected to trend around 591000.00 NGN Million in 2020, according to our econometric models.

Nigeria GDP From Agriculture

Source: https://tradingeconomics.com/nigeria/gdp-from-agriculture

Borno Farmers are expecting a bumper harvest

Nigerians are happy that the economy has come out of recession and so are the Borno farmers who are more than excited that they will be getting a bumper harvest this season.

Borno farmers have expressed optimism that they are set to record a bumper harvest in the 2017 cropping season. They commended the Food and Agriculture Organisation (FAO) for supporting displaced farmers to return to their farms.

According to a report by the News Agency of Nigerian (NAN), thousands of displaced farmers supported by FAO cultivated their farmland in Maiduguri and other liberated communities.

Some farmers in Maiduguri and Jere Local Government area told NAN that they were happy and anticipating bumper harvest this season.

FAO also partnered with other implementing partners to distribute seeds and fertilizers to more than one million farmers this cropping season in the North East.

It was also gathered that the military also helped in safeguarding the farmlands as Borno state has been devastated by Boko Haram attacks.