Tags : Agriculuture

Agric Imports Hit N2.7tn In 2021

Nigeria’s agricultural imports continued to take an upward trajectory, hitting N2.7tn in 2021. This is coming despite spending no less than N129.084bn on agriculture loans to farmers. According to findings by our correspondent, the Central Bank of Nigeria and the Federal Government, through the Agricultural Credit Guarantee Scheme Fund (ACGSF), has guaranteed a total of […]Read More

Agric Sector Output Grows In Two Years

Data from the National Bureau of Statistics have shown that the agriculture sector recorded improved performance in 2021, when compared to the previous year. The NBS said the sector output grew by N3.89tn from N37.22tn in 2020 to N41.12tn last year. This development is coming despite worsening insecurity in food-producing states in the country last […]Read More

Agric Import Rose To N532.4 Billion In Q4 2020

The value of imported agricultural goods rose to N532.39billion in the fourth quarter of 2020 from N503.4billion in the third quarter in the same year– a 5.75 percent increase. This was disclosed by the National Bureau of Statistics which also reported that the value of exported agricultural goods dropped to N55.77 billion in Q4, 2020 […]Read More

CBN Injects N1.487trn For Food Security

The Central Bank of Nigeria has said it’s disbursed N1.487 trillion under its various agricultural programmes to boost food security. Emefiele said that the apex bank disbursed N107.60 billion to 548,109 farmers cultivating 703,619 hectares of land between the fourth quarter of 2020 and the first quarter of 2021 to boost dry season output. “Total […]Read More

Over 72% Of CBN Intervention Funds Remain Outstanding

As at December 31st 2020, over N3 trillion out of the N4.2 trillion intervention funds disbursed by the Central Bank of Nigeria are outstanding. This is a total of 72.5 percent yet to be reimbursed to the apex bank. According to data from the recently released fourth-quarter economic report (4Q’2020) of Nigeria’s Apex bank,  the […]Read More

In Six Years Agriculture Contributed More To Nigeria’s Economy

An analysis from 2015 and 2020 shows that agriculture has contributed largely to the growth of Nigeria’s economy consistently for six years. During these years, the agricultural sector has contributed almost a quarter to the country’s economy among other five major contributors. These other sectors include Trade, Crude Petroleum & Natural Gas, Manufacturing, Telecommunication and […]Read More