• Nigeria imports $18m tooth picks yearly – Minister

    Nigeria imports $18m tooth picks yearly – Minister

    It was gathered that the Federal Government yesterday bemoaned Nigeria’s over dependence on imports for its daily needs including food items.

    Minister of Agriculture and Rural Development, Chief Audu Ogbeh said it was ridiculous that the country spends over $18m annually on importation of tooth picks.

    Asked how he arrived at the figure, he said it was from a recent Central Bank of Nigeria (CBN) report, stressing that it was pathetic that Nigeria was spending its hard earned resources on non-essential items. […]

  • Edo patient imports Lassa fever to Ondo

    Edo patient imports Lassa fever to Ondo

    A case of the deadly Lassa fever has been detected at the Federal Medical Centre, Owo, Ondo State.

    It was gathered that the victim who came from Edo State went to the FMC to treat malaria fever; but after a blood test, it was discovered that the victim had contacted the deadly disease.

    However, the state government said it was proactive about the case and the victim has been returned to Edo State where he came from.

    When contacted, the Ondo State Commissioner […]

  • Customs loses N600bn to diverted vehicle imports

    Customs loses N600bn to diverted vehicle imports

    Nigerian ports have lost a whopping N600 billion in the last three years due to diversion in the importation of vehicles from the nation’s ports to neighbouring ports, especially the Cotonou port in the Republic of Benin findings have revealed.

    This figure is said to be the value of the revenue that ought to have been collected by the Nigeria Customs Service (NCS) if the vehicles were shipped directly to Nigerian ports.

    This is even as activities at the terminals designated for […]

  • Nigeria economy got $15.3bn, spent $6.6bn on import in 3 months

    Nigeria economy got $15.3bn, spent $6.6bn on import in 3 months

    The Central Bank of Nigeria has disclosed that total foreign exchange inflow into the economy in the second quarter of 2016 was $15.33billion. This it said represented an increase of 3.7 per cent above the level at the end of the first quarter but, showed a decline of 35.3 per cent relative to the level at the end of the corresponding period of 2015.

    The development the CBN said was driven by increase in oil and non-oil receipts. Oil sector receipts […]

  • Nigeria imports over N7trn food items annually – Ogbeh

    Nigeria imports over N7trn food items annually – Ogbeh

    Minister of Agriculture and Rural Development, Chief Audu Ogbeh yesterday reeled out worrisome statistics, which showed that the country spends over $22 billion (N7trillion) annually on importation of various food items like wheat, rice, fish, and poultry products among others.

    But the Federal Government said the continued importation of products that could be produced locally was a big threat to local production.

    Vice President Yemi Osinbajo, who unveiled the agricultural roadmap christened: “The green alternative: Agriculture promotion policy-2016-2020”, said the government was […]

  • Nigeria, world’s largest cassava producer, imports garri from Togo

    Nigeria, world’s largest cassava producer, imports garri from Togo

    Nigeria, Africa’s largest economy and the world’s largest producer of cassava, imports many cassava products, including garri, a West African staple.

    This was disclosed by Mofe Omotosho, a consultant with Patra Consult, a sales and agriculture training and consulting firm in Lagos.

    Omotosho said Nigeria, the largest producer of cassava anywhere in the world, should not be importing any cassava product at all.

    Speaking at a media training for Civil Society Legislative Advocacy Centre (CISLAC), she said Nigeria does not place premium on […]

  • Another Fuel Scarcity Looming As Marketers Threaten To Halt Fuel Imports

    Another Fuel Scarcity Looming As Marketers Threaten To Halt Fuel Imports

    With the country just coming out of one fuel crisis, there’s no eagerness to get into another, but that might just be the case if the oil marketers are to be believed.

    The marketers, under the umbrella of the Depot and Petroleum Products Marketers Association of Nigeria (DPPMAN) have said except the CBN provides foreign exchange to import fuel, the recent subsidy payment they received from the government will remain in their naira accounts.

    They made this clear on Friday, May 20, […]

  • Nigeria spends N165 billion annually to import fruit juice – MAN

    Nigeria spends N165 billion annually to import fruit juice – MAN

    According to reports, Nigeria spends N165 billion annually to import fruit juice, the president of the Manufacturers’ Association of Nigeria (MAN), Frank Jacobs, has said.

    In a paper presented at a workshop organised by the Raw Materials Research and Development Council (RMRDC) in Owerri on Friday, Mr. Jacobs noted that in spite of the high rate of fruit production and a thriving juice market, the country imported fruits concentrates.

    In the paper entitled “Promoting Investments in Concentrate Production’’, he said the situation […]