Experts raise alarm over Nigeria’s economy as OPEC meets

• Warn of recession, say foreign exchange scarcity imminent• ‘Why 2020 budget estimate for oil price, production is unrealistic’ Economists and other stakeholders in the oil and gas sector on Monday predicted a bumpy road for Nigeria’s N146.96 trillion economy, insisting that prevailing realities at the international oil market could worsen the nation’s fiscal outlook, […]

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Ondo to get modern veterinary hospital

Plans are underway to build a modern veterinary hospital complex in Akure, the Ondo State capital. Already, Governor Oluwarotimi Akeredolu, SAN, has approved the construction of the facility and that money should be released as soon as fund is available. Commissioner for Agriculture, Asiwaju Adegboyega Adefarati, who disclosed this, noted that continuous training of veterinary […]

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Ondo buys tractors to boost farming, restates commitment to food security

Ondo State Governor Oluwarotimi Akeredolu, SAN, said his administration is placing high premium on agriculture by giving necessary supports to farmers to ensure food security and healthy diets for zero hunger world. This is coming as the governor disclosed that his government has procured 20 tractors to be distributed to interested agricultural associations or farmers […]

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Ondo ready to partner IFAD on $10m agricultural project

Ondo State Government has expressed its readiness to participate actively in the Federal Government/IFAD/NDDC, USD10 Million Agricultural transformation Project, Life – ND Commissioner for Agriculture, Asiwaju Adegboyega Adefarati gave the assurance while hosting the team from FG/IFAD/NDDC(L-ND) in his office in Akure. The commissioner who expressed confidence in the ability of the state Government to […]

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Experts say Nigeria needs technology to boost food production

Feeding over 200 million Nigerians requires generation, improvement and widespread application of various home-grown and adapted technologies, innovations and farmer education, experts have said. Over 30 million farmers in Nigeria should produce enough food for the country, but contrary is the case on accounts of primitive tools, non-application of improved technologies and high-yielding varieties. Part […]

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Ondo set to establish largest cocoa plantation in Africa

Plans to establish the largest cocoa plantation in Africa have been concluded by the Ondo State Government. Ondo is Nigeria’s largest cocoa producing state. The state government announced this through the Agriculture Commissioner, Mr Gboyega Adefarati, confirming that the massive plantation would sit on 2,000 hectares of cocoa plantation at Ijugbere, in Owo Local Government […]

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Govt moves to boost cocoa production, distributes seedlings in Idanre

To boost cash crops production in Idanre local government area of Ondo State, the Caretaker Management Committee has distributed cocoa seedlings to farmers within the Council area. This was contained in a statement by the council’s Head of Agriculture Department, Mr Olasunkanmi Fayato. It said that while distributing the seedlings, the Chairman of Idanre local […]

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Auditor-general indicts presidency, EFCC, NASS of financial indiscipline

accuses agencies of violating accounting rules, failing to submit fiscal reports MDAs without audited reports increased from 148 in 2014 to 323 in 2018 Financial indiscipline blamed on Buhari’s inaction, failure to sign anti-graft bills Almost all Ministries, Departments and Agencies (MDAs) have been indicted for financial wrongdoings in the latest fiscal assessment of the […]

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Nigerian economy groans without ministers -PDP

Chairman Board of Trustees of the Peoples Democratic Party, PDP, Senator Walid Jibrin, has said that the delay in appointing ministers by President Muhammadu Buhari is not good for the country. Speaking in Abuja on Monday, Jibrin urged the President to hasten the appointment of his ministers. According to him, the appointment of competent persons […]

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Banks recorded ₦1.5tr non-performing loans in 2018

Analyst links incidence to macroeconomic headwinds Following the adoption of IFRS 9, about 10.9 per cent of the loan book in the banking industry, representing ₦1.5trillion are in Stage 3 (impaired), as at December 2018, according to the recently released banking industry report by Agusto & Co.    The figure represents 15 per cent increase in […]

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