Industry Dynamics

The Federal Government’s earnings from the export of crude oil has recorded a rebound of 116 per cent, the Organisation of Petroleum Exporting Countries disclosed on Tuesday.

At the virtual launch in Lagos, the company disclosed that the products, SmatCrows, SmatAI, SmatSat and SmatMapper are the first of its kind that will enable predicable improved crop yield for farm corporations.

China's government is discussing permits for millions of tonnes of additional corn imports over the next year, three industry sources told Reuters, amid a surge in animal feed demand and after storms and drought damage tightened domestic supplies.

The Nigerian National Petroleum Corporation says it will soon begin activation of Compressed Natural Gas refill stations for motorists across the country.

The world's two largest cocoa producers, Ivory Coast and Ghana, have created a joint body to improve coordination in research, price setting and the fight against child labour, the Ivorian government revealed recently.

The Chairman, National Association of Yam Farmers, Processors and Marketers in Oyo State, Chief GbemisadeAdeniyi, says there is huge profit in yam farming business.

The Nigerian power grid rose to 5,377 megawatts (MW) peak power generation on Saturday night, a feat attained 18 months after the previous record. The Transmission Company of Nigeria (TCN) disclosed this on Monday.

Presently, the number of items on the CBN’s ‘Not Valid for Import,’ has risen to 44, in the bid to boost domestic production and encourage import substitution.

The restrictions on movement and the limited social interactions will strain livelihoods and the agricultural supply chain as access to inputs and extension support services by the already vulnerable farmers and their communities is interrupted.