Yam Export Won’t Cause Scarcity in Nigeria—Ogbeh Assures

Image

By Dipo Olowookere

Minister of Agriculture and Rural Development, Mr Audu Ogbeh, has appealed to Nigerians not to panic over plans by the Federal Government to begin exportation of yam to the United Kingdom and the United States this month end.

Mr Ogbeh assured Nigerians that this move will not lead to scarcity of yams in the country as being feared by many.

Some critics had said this plan by the FG to take yams out of the country to Europe and America was ill-time because, according to them, yams produced by Nigerian farmers were not enough to meet the demands of citizens.

They claimed a similar issue happened when Nigeria began exporting cassava, causing price of the commodity in the local market to skyrocket.

At the moment, a bowl of garri, made from cassava, which used to be around N100 to N200, now goes for over N1000.

But in a statement issued on Monday by the Minister, he said there was no need to panic about the non-availability of yams for Nigerians to consume.

“Dear Nigerians, let me once again, address your concerns about our new programme on yam export. On June 29, 2017, a total of 72 metric tons of yam will leave the shores of Nigeria to Europe and the US, heralding a new dawn in Nigeria’s food exports,” Mr Ogbeh said.

He pointed out that there was never a time shortage of yams was experienced in Nigeria, stressing that, “Over 30 percent of the yams we produce in Nigeria rot away. Export therefore provides opportunities to earn foreign exchange and produce more yams.”

He said if Ghana, which does not grow anywhere near one tenth of the yams grown in Nigeria was targeting $4 billion in yam exports, the nation can do better.

“The export of Nigerian yams is not new. It has just been going through other ports and largely unaccounted for, due to sharp practices.

“The Food and Agriculture Organization (FAO) says Nigeria accounts for 61 percent of yam production in the world. Nigeria has no reason not to engage in and benefit from this profitable trade in view of our large production capacity.

“We cannot diversify our economy if we do not explore new ways of creating wealth and earning foreign exchange especially in items on which we have competitive advantage and superior production capacity. There is no need to panic!

“We need to focus on the opportunities, as we partner with our development partners to create storage facilities to minimize post-harvest losses; and as we work on other exportable agro commodities, we are working on mechanized methods for the production of yam heaps to ease the burden of yam production and review its standards to ensure local improvement and global acceptability.

“To diversify our economy through Agriculture, we cannot, but support this private sector initiative and drive for our Agro commodity exports,” the Minister said in the statement.

Share
Related Stories
Image
01-March-2024

Transcorp Power to List Shares on Nigerian Exchange March 4

By Dipo Olowookere Another power generating company will join Geregu Power Plc on the Nigerian Exchange (NGX) Limited, Business Post has gathered. The new firm joining the nation’s flagship stock exchange is Transcorp Power Plc, a company owned by businessman and Chairman of UBA Plc, Mr Tony Elumelu. Information reaching this newspaper is that Transcorp Power is listing its shares on the NGX by introduction on Monday, March 4, 2024. The organisation is taking to the stock market about 7,500,000,000 units of its equities at N240.00 each, increasing the total value of the local equity market by N1.8 trillion. Its

Image
04-March-2024

Peter Obi Laments Nigeria’s Dependence on War-Torn Ukraine for Food

By Adedapo Adesanya The presidential candidate of the Labour Party in the 2023 polls, Mr Peter Obi, has lamented Nigeria’s dependence on Ukraine, a country ravaged by war, for food aid. Mr Obi, in a statement on Monday, expressed dissatisfaction at the current economic realities and recounted times when the Nigerian economy was faring better than that of Ukraine in 2015. “Ukraine cultivates over 60 per cent of its arable land, whereas Nigeria has over 60 per cent uncultivated arable land. “Despite the conflict, Ukraine feeds itself, and exports agricultural products worth over $25 billion which is about the same

Image
04-March-2024

NGX Group Declares 75 Kobo Final Dividend Amid 57.4% Surge in FY’23 Earnings

By Aduragbemi Omiyale A final dividend of N1.5 billion, amounting to 75 Kobo per share has been declared by the board of the Nigerian Exchange (NGX) Group Plc for the 2023 financial year. This brings to N1 the total dividend to be paid by the company after paying 25 Kobo (N495.5 million) as interim dividend at mid-year. In its audited financial statements for the year ended December 31, 2023, the NGX Group said its gross earnings increased by 57.4 per cent to N11.8 billion in FY 2023 from N7.5 billion in FY 2022 because its performances in core revenue and

Image
02-March-2024

NGX Indices Nosedive by 1.23% as Traders Resume Profit-Taking

By Dipo Olowookere The bears made a quick return to the Nigerian Exchange (NGX) Limited after leaving the stage for the bulls for a day as investors reassessed the impact of the hike in the benchmark interest rate by the Central Bank of Nigeria (CBN) on Tuesday on their investments. On Friday, the key performance indicators of the bourse closed lower by 1.23 per cent as a result of renewed selling pressure, especially in the energy and industrial goods sectors. Business Post reports that at the close of transactions on the first trading session of March 2024, the industrial goods

More Stories
Image
11-July-2021

JUST IN: Nigerian Singer Sound Sultan Dies

By Dipo Olowookere A popular Nigerian singer, Mr Olanrewaju Fasasi, has died. The talented music act, who shot into the limelight in the late 90s, was said to have died of throat cancer. Recall that in May 2021, an online news platform, Sahara Reporters, reported that the singer was diagnosed with throat cancer and was in the United States of America (USA) for chemotherapy. In a report on Sunday by the Punch, a family member of the singer, who released his debut single, Jagbajantis in 2000, Mr Kayode Fasasi, was said to have issued a statement to confirm the demise

Image
02-October-2019

Keystone Bank Launches ‘Growbiz Account Save and Win’ Promo

By Dipo Olowookere A promo aimed to appreciate and reward its loyal customers whilst engendering a good savings culture in the country has been launched by Keystone Bank Limited. The initiative is tagged ‘Keystone Growbiz Account Save and Win Promo’ and is open to both new and existing customers of the bank. A statement from the lender today said the promo is scheduled to run till November 30, 2019 and will see lucky winners walk away with cash prizes and gift items such as refrigerators, television and lots of consolation prizes. It was explained that to participate, new and existing

Image
27-January-2017

Osinbajo Flags Off Maiden SMEs Clinic in Aba

By Dipo Olowookere Acting President, Mr Yemi Osinbajo, on Thursday flagged-off the maiden edition of the Micro, Small and Medium Enterprises Clinic in Aba, Abia State. The event was put together by the state government to grow small businesses in the state. Aba is known as the commercial hub of Southeast Nigeria, which has the potential of becoming Africa’s China. While declaring the programme open, Mr Osinbajo admitted that “Aba is easily the manufacturing and small business centre for Nigeria. I knew about Aba made products when we were younger.” Speaking further, the Acting President said, “When we say Aba

Image
02-November-2016

Nigeria Should Forget About Nuclear, Wind Energy—NBET Boss

By Dipo Olowookere Managing Director/Chief Executive Officer of the Nigerian Bulk Electricity Trading Plc (NBET), Dr Marilyn Amobi, has said the country cannot achieve its target of 20,000 megawatts of electricity target by the year 2020. Mrs Amobi, while fielding questions from members of the House of Representatives Committee on Power led by Mr Dan Asuquo, also noted that deploying nuclear and wind energy in Nigeria would remain a mirage. She told the lawmakers, who paid her agency a working visit, that the 20,000MW target was capital intensive, stressing there is no way the country will meet up within the

Image
11-June-2020

Airtel Africa Celebrates 10 Years of Operations

Leading provider of telecommunications and mobile money services in 14 countries across sub-Saharan Africa, Airtel Africa, is celebrating its 10-year anniversary this month. Over the past decade, Airtel Africa has supported social transformation across the continent by enabling millions of people to access data services and be part of the financial system. Bharti Airtel established its presence in Africa when it acquired Zain Telecom’s Africa operations in June 2010. The company has achieved significant growth, reaching more than 110 million customers, bridging the digital divide and increasing financial inclusion. The anniversary follows another recent milestone for Airtel Africa, when the

Image
08-July-2021

FIRS Accuses DSTV of N1.8trn Tax Debt

By Modupe Gbadeyanka A popular pay-TV service provider, DSTV, which is owned by MultiChoice Nigeria, a subsidiary of MultiChoice Africa, has been accused of owing the federal government N1.8 trillion as outstanding taxes. The Federal Inland Revenue Service (FIRS), through its Executive Chairman, Mr Mohammad Nami, alleged that the company has failed to adhere to the country’s tax laws. In a statement on Thursday, he said the company has never paid Value Added Tax (VAT) to the Nigerian authorities since it commenced operations in the country. The agency has now asked all financial institutions the company has bank accounts to

Image
24-February-2022

Verve Cardholders to Share N50m Cash, Gifts

By Modupe Gbadeyanka Verve cardholders will share N50 million in prizes in The Verve Good Life Promo 2.0, a scheme put in place to reward customers of the digital payments firm. Since February 1, 2022, Verve launched the nationwide promo, which is expected to run through to March 31, 2022. The campaign is being organized in collaboration with First City Monument Bank (FCMB), Union Bank, United Bank for Africa (UBA), and Zenith Bank. It seeks to reward inactive Verve cardholders across the four participating banks, with cash prizes, cashback rewards and exciting gifts. Verve cardholders from any of the participating

Image
11-July-2017

Brand Name: Etisalat Nigeria Reassures Customers of Uninterrupted Quality Services

By Dipo Olowookere The management of Emerging Markets Telecommunication Services Limited (EMTS), trading as Etisalat Nigeria, has reassured its numerous customers of its commitment to continue to deliver quality services to them. In a statement signed on Tuesday by its Vice President in charge of Regulatory & Corporate Affairs, Mr Ibrahim Dikko, the telecom firm with over 20 million subscribers described as “misleading” reports that its Experience Centres and outlets were being closed in some parts of the country. The management emphasised that “all Etisalat offices, Experience Centres and outlets across Nigeria are in full operation and are providing services

Ad
Ad
Recent Stories
Image
04-March-2024

UK Announces £37.3m to Boost Livelihoods in Nigeria, Others

By Adedapo Adesanya The United Kingdom has announced new funding for the Mobile for Development Programme to help more people access mobile and digital technologies to find new opportunities and boost their livelihoods in Nigeria and other developing countries. UK’s Minister for Development and Africa, Mr Andrew Mitchell MP, during a speech at Mobile World Congress last week, announced that the UK is providing £37.3 million of new support for the Mobile for Development Programme. The new UK funding for innovative mobile phone technology will help change lives in developing countries around the world by harnessing AI technology to provide

Image
04-March-2024

Newly-Listed Transcorp Power Targets N500bn Revenue by 2031

By Adedapo Adesanya The latest company to join the Nigerian Exchange (NGX) Limited, Transcorp Power Plc, has announced a revenue target of N500 billion by 2031, tapping opportunities in the capital market and sustainable energy. This was disclosed by the Managing Director of the firm, Mr Peter Ikenga, during the Facts Behind the Listing held at bourse on Monday. The firm, owned by businessman and Chairman of UBA Plc, Mr Tony Elumelu, listed its stocks on the Main Board of the nation’s flagship exchange by introduction. It listed 7,500,000,000 ordinary shares of 50 Kobo each at N240.00 per share. Speaking

Image
04-March-2024

DisCos Must Promptly Respond to Customers’ Complaints—FCCPC

By Aduragbemi Omiyale Electricity distribution companies (DisCos) in the country have been charged to respond to customers’ complaints quickly for better service delivery. This task was given to the energy firms by the Federal Competition and Consumer Protection Commission (FCCPC), which said the companies must design a quick response mechanism to address issues from their customers. Speaking last Saturday at a four-day one-stop-shop for addressing billing, metering, transformer, connection, disconnection, customer service and other electricity consumer issues in Ikeja Electric coverage areas, the acting executive chairman of FCCPC, Mr Adamu Abdullahi, said the highest number of complaints received by the

Image
04-March-2024

Omokungbe Wants Implementation of Initiatives on Women’s Entrepreneurship

By Aduragbemi Omiyale A former Rector of Yaba College of Technology (YabaTech), Lagos, Mr Obafemi Omokungbe, has called for the implementation of programmes and initiatives designed to promote women’s entrepreneurship in Africa. Speaking at the just-concluded 10th anniversary of the African Women Foundation for Nation Building (WINBAFRICA) in Lagos, Mr Omokungbe, a fellow of the Nigerian Society of Engineers (NSE), also appealed to African countries to renew their commitment to women’s empowerment, saying it is a crucial step towards nation-building. According to him, the journey toward women’s empowerment in Africa involves a comprehensive approach that spans various sectors, including education,

Image
04-March-2024

NGX Group Declares 75 Kobo Final Dividend Amid 57.4% Surge in FY’23 Earnings

By Aduragbemi Omiyale A final dividend of N1.5 billion, amounting to 75 Kobo per share has been declared by the board of the Nigerian Exchange (NGX) Group Plc for the 2023 financial year. This brings to N1 the total dividend to be paid by the company after paying 25 Kobo (N495.5 million) as interim dividend at mid-year. In its audited financial statements for the year ended December 31, 2023, the NGX Group said its gross earnings increased by 57.4 per cent to N11.8 billion in FY 2023 from N7.5 billion in FY 2022 because its performances in core revenue and

Image
04-March-2024

Red Line Rail: Labour Party Demands Value for Money

By Aduragbemi Omiyale The Lagos State chapter of the Labour Party has tasked Governor Babajide Sanwo-Olu to ensure the recently commissioned Red Line Rail does not turn out to be another failure due to poor maintenance culture. In a statement by its Publicity Secretary, Mrs Olubunmi Odesanya, the opposition party appealed to the state government to ensure its sustainability. While greeting residents of the metropolis on the project, which was commissioned last Tuesday by President Bola Tinubu, the Labour Party faulted the timing of its completion, saying the ruling All Progressives Congress (APC) ought to have put the initiative in

Image
04-March-2024

Access Bank to Give 700,000 MSMEs Access to N50bn Via YouThrive

By Modupe Gbadeyanka An initiative known as YouThrive designed to give entrepreneurs in the micro, small and medium enterprises (MSMEs) access to a N50 billion credit facility has been introduced by Access Bank Plc. The lender disclosed at a media briefing in Lagos that about 700,000 MSMEs would benefit from this programme, which is open to business owners between the ages of 21 and 40 years. YouThrive is a transformative initiative designed by Access Bank to empower, uplift, and accelerate the next generation of MSMEs. According to the Deputy Managing Director of Access Bank, Mr Victor Etuokwu, who addressed journalists

Image
04-March-2024

Peter Obi Laments Nigeria’s Dependence on War-Torn Ukraine for Food

By Adedapo Adesanya The presidential candidate of the Labour Party in the 2023 polls, Mr Peter Obi, has lamented Nigeria’s dependence on Ukraine, a country ravaged by war, for food aid. Mr Obi, in a statement on Monday, expressed dissatisfaction at the current economic realities and recounted times when the Nigerian economy was faring better than that of Ukraine in 2015. “Ukraine cultivates over 60 per cent of its arable land, whereas Nigeria has over 60 per cent uncultivated arable land. “Despite the conflict, Ukraine feeds itself, and exports agricultural products worth over $25 billion which is about the same

Image
04-March-2024

AfDb Injects $134m Into Rice, Maize, Cassava, Soybean Production in Nigeria

By Adedapo Adesanya The African Development Bank (AfDB) is supporting Nigeria in the cultivation of rice, maize, cassava and soybean to boost food production with the provision of $134 million to achieve this. The president of the multilateral lender, Mr Akinwunmi Adesina, said on Saturday after visiting the Centre for Dryland Agriculture (CDA) at Bayero University, Kano, that the bank would support Nigeria to cultivate 300,000 hectares each of rice and maize, 150,000 hectares of cassava and 50,000 hectares of soybeans during the 2024 planting season. The CDA is a World Bank-supported centre established to serve as a regional training

Image
04-March-2024

Salesforce Unveils Conversational AI Assistant Einstein Copilot

By Modupe Gbadeyanka A new customisable, conversational, and generative AI assistant for CRM, Einstein Copilot, has been launched by Salesforce. The system was unveiled at the Mobile World Congress in Barcelona, Spain, and it will use adequate company data to generate useful responses. The Einstein Copilot enables Salesforce customers to generate responses using their private and trusted data, while maintaining strict data governance and without requiring expensive AI model training. As a result, Einstein Copilot can answer questions, summarise content, create new content, interpret complex conversations, and dynamically automate tasks on behalf of a user, all from a single, consistent