Business Commodities Nigeria Top Story

Insecurity: Expect double food prices from August, farmers warn Nigerians

Reading Time: 2 minutes The All Farmers Association of Nigeria (AFAN), has warned that a rise in food prices is imminent. The farmers told Nigerians to prepare for doubled food prices from August. The prices of staple menu like beans, rice and garri may jump by as high as 50 per cent from next month, they warned. According to Read More…

Business Commodities

Lagos ports: 13 petrol-laden ships arrive, 25 more expected

Reading Time: < 1 minutes 13 ships laden with petroleum products and others are waiting to berth at the ports in Lagos, the Nigerian Ports Authority (NPA) said on Thursday. NPA in its ”Daily Shipping Position” listed the products in the ships as: general cargo, bulk wheat, petrol, bulk urea, bulk sugar and bulk gypsum. It said that another 20 Read More…

Business Commodities Top Story

Nigeria approves imports of GMO wheat from Argentina’s Bioceres

Reading Time: < 1 minutes Nigeria has approved imports of a drought-resistant, genetically modified wheat developed by Argentina’s Bioceres, a company spokesperson said on Friday. The African country joins the list of others who have already authorized the importation of goods made from Bioceres’ HB4 wheat, including Australia, New Zealand and Brazil. “Nigeria has told Bioceres that it approved (Bioceres’) Read More…

Business Commodities Environment Top Story World

A third of global commodity-hungry firms have no-deforestation policies – report

Reading Time: 2 minutes A third of the 350 companies most exposed to commodities such as palm oil, beef and timber have no policies to ensure their products are not fuelling deforestation, a report by NGO Global Canopy showed on Thursday. Protecting the world’s forests is central to efforts to limit man-made global warming by mid-century, and at the Read More…

Business Commodities Nigeria Top Story

From Nigeria to Brazil ‘halo’ crops reap pandemic profits

Reading Time: 4 minutes In picture above: Freshly washed ginger plant bulbs are seen at a market in Kaduna, Nigeria. April 30, 2021. Picture taken April 30, 2021. REUTERS/Afolabi Sotunde In a flowing cream hijab, Karima M. Imam walks through her fields in scrubland in northern Nigeria as workers harvest a gnarled brown root that has turned gold since Read More…

Business Commodities Metro Top Story

Lagos Commodities Exchange set to list first gold instrument

Reading Time: 3 minutes The Lagos Commodities and Futures Exchange (LCFE) has concluded plans to admit Dukia Gold‘s diversified financial instruments, backed by gold as the underlying asset in a sector worth over N300 trillion. Dukia Gold Chiarman, Mr Tunde Fagbemi, said this at a media parley on Thursday in Lagos. Fagbemi said the instruments which would be in Read More…

Business Commodities Inflation Top Story

Analysis: Food price spikes see inflation rear its head in Nigeria and emerging markets

Reading Time: 4 minutes For Cleanne Brito Machado, like millions of people in developing countries around the world, shopping for staple foods such as rice, beans, oil or potatoes now means making hard choices. “The shopping cart is getting much smaller and we’re paying much more,” said the 41-year old, who works as a maid in Brazil’s capital Brasilia. Read More…

Business Commodities Top Story

CBN repositions Nigerian Commodity Exchange

Reading Time: 2 minutes Emefiele commits N50 Billion to revamping the exchange The Central Bank of Nigeria (CBN) says it is committing N50 billion to reposition the Nigeria Commodity Exchange (NCX), CBN Governor, Mr Godwin Emefiele, has said. Emefiele, who disclosed this, on Thursday, at an inaugural meeting of the Steering Committee for the repositioning of the NCX, added Read More…

Business Commodities Economy Top Story

Kerosene price increases

Reading Time: < 1 minutes The average price per litre paid by consumers for National Household Kerosene increased to N353.38 in November from N352.93 in October, the National Bureau of Statistics (NBS) says. The Bureau made this known in its “National Household Kerosene Price Watch (November 2020)’’ obtained from its website on Thursday in Abuja. According to NBS, the increase is by Read More…

Commodities Featured

NPA expects 19 ships with petroleum products, others at Lagos port

Reading Time: < 1 minutes The Nigerian Ports Authority (NPA) says it is expecting 19 ships, laden with petroleum products, food items and other goods from Sept. 23 to Oct. 3. The NPA made this known in its “Shipping Position” publication in Lagos on Wednesday. According to the publication, the ships are being expected at the Lagos Port Complex. It Read More…