• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Business News

How The CBN Inadvertently Made Tomatoes Expensive in Kano

Onome Ohwovoriole by Onome Ohwovoriole
March 1, 2017
in Business News
Prices Of Tomatoes, Pepper, Detergent Spikes As Buhari’s Economy Falters
Share on FacebookShare on TwitterShare on Linkedin

Nairametrics| The Central bank of Nigeria (CBN) in its quest to encourage Nigeria’s self-sufficiency in food production may have caused unintended consequences for other food crops.

Farmers that were hitherto involved in farming tomatoes have switched to wheat and rice production. The CBN had recently given farmers loans under its Anchor Borrowers Scheme to cultivate those crops.

The drop in production of tomatoes has led to an increase in the price of a basket of tomatoes from between 400 to 500 naira per basket, to 3000 naira per basket. Alhaji Abdulkarim Kaita, Managing Director of the Dangote Tomato Processing Company, Kadawa, Kano state disclosed this recently. The company was thus forced to purchase fresh tomatoes from farmers in Gombe and Sokoto States.

RelatedStories

Consumer goods

Analysts pinpoint Consumer goods sector as undervalued, reveal potential growth drivers 

March 2, 2025
Consumer goods

Consumer Goods sector jumps over 6% on strong individual stock gains, clears pull-back

February 23, 2025

The Anchor Borrowers Scheme was established by the CBN in January 2016. N220 billion naira was set aside for farmers. Banks access loans under the scheme for 2%, and are to lend to farmers at a maximum 9%. Farmers are then expected to sell their produce to an Agro processor (which is called the anchor), who pays cash into their account.

Tags: AgricultureCBN NigeriaConsumer Goods
Onome Ohwovoriole

Onome Ohwovoriole

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

Related Posts

Consumer goods
Consumer Goods

Analysts pinpoint Consumer goods sector as undervalued, reveal potential growth drivers 

March 2, 2025
Consumer goods
Equities

Consumer Goods sector jumps over 6% on strong individual stock gains, clears pull-back

February 23, 2025
Niger state ‘generated N600 billion’ from agriculture in 2024 – Governor Umaru Bago
Agriculture

Niger state ‘generated N600 billion’ from agriculture in 2024 – Governor Umaru Bago

January 16, 2025
rice seeds
Agriculture

Agriculture employs over 25 million Nigerians, accounts for 30.1% of total workforce – NBS  

September 25, 2024
Poultry farm
Agriculture

Half of poultry farms in Oyo state have shutdown – Association’s Chairman 

August 14, 2024
NGX
Markets

NGX-ASeM Index emerges best-performing index in H1’2024 with a gain of 135.25%

July 1, 2024
Next Post
NAICOM Has Given Insurance Companies In Nigeria These 3 Survival Options

NAICOM Has Given Insurance Companies In Nigeria These 3 Survival Options

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

first bank








DUNS

Recent News

  • Borno Governor Zulum orders immediate implementation of N70,000 minimum wage for council workers 
  • CAC’s AI-driven business registration portal handles 11,000 transactions in one day amid technical glitches 
  • Lagos butchers blame beef price hike on flooding in northern Nigeria, transport disruption 

Follow us on social media:

Recent News

Borno Govt halts fuel sales in Bama, Banki to cut off supplies to insurgents 

Borno Governor Zulum orders immediate implementation of N70,000 minimum wage for council workers 

July 20, 2025
CAC reverses N100 million paid-up capital policy for foreign companies

CAC’s AI-driven business registration portal handles 11,000 transactions in one day amid technical glitches 

July 20, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics