Live Breaking News & Updates on Answer Industries Ltd
Stay updated with breaking news from Answer industries ltd. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Strong indications have emerged that the Bank of Agriculture (BoA) has technically become unsustainable and riddled with bad debt to the tune of N77.1 billion. This is amid failed restructuring and recapitalisation plans that had been proposed since 2019. ....
List why ban won’t work Agro-industrial users of maize have faulted the insistence of the Central Bank of Nigeria (CBN) to stop and frustrate importation of maize into the country despite unfavourable conditions for local production of the crop and a shortfall of over 5 million metric tonnes. x The Poultry Association of Nigeria (PAN), major commercial poultry farmers and feed millers, in different interviews with The Guardian, lamented the high cost of maize, which is a major ingredient in animal feeds. They argued that banning the importation of maize and soya beans unreasonably would compound the country’s economic woes as poultry, fishery and feed industries would collapse, which in turn would worsen unemployment, aggravate poverty and hamper foreign investments in the sectors. ....
• FG earmarks 1.73% against 10% Maputo declaration • Failure to boost sector spells doom, ex-PAN boss warns Allocations by federal and state governments to agriculture in 2021 have fallen below five per cent, less than half way into the bottom line agreed to at the Maputo and Malabo declarations, signed by the Federal Government in 2003 and 2014. The extant declarations recommend a minimum of 10 per cent of total public budgets to the sector to enhance food production and wealth creation, as well as reduce escalating malnutrition in Africa. But of the Federal Government’s total budget, only N280,135,513,553 is allocated to personnel, overhead and capital expenditures of the agric sector, representing a paltry 1.73 per cent of the total sum. ....