Connect with us
iubh
Advertisement
Alpha
Advertisement
Hotflex
Advertisement
british airways
Advertisement
Advertisement
UBA
Advertisement
Patricia
Advertisement
app

Business

FG to partner private sector to boost sugar production and employment

The Minister of Trade has reiterated FG’s commitment to partner private investors in sugar production and economic growth.

Published

on

Quick take: Sustained cost pressure weighs on profit, Dangote Sugar Refinery: Revenue recovers but cost pressures remain

The Federal Government said that its partnership with the private sector, in the area of Sugar production would promote competition, productivity, profitability and sustainability in the industry.

This was disclosed by the Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo, at the inauguration of the  Nigeria Sugar Institute Ifelodun Local Government Council Area of Kwara.

READ: How to access CBN’s Health Research & Development grant

“The government, therefore, recognises the need to deepen its partnership with the private sector to drive access to skills’ development, research and development.

”This should be done in a manner that promotes competition, productivity, profitability and sustainability in the sugar industry,” he said.

Executive Secretary of the Nigeria Sugar Institute (NSI), Dr. Latif Busari, said that the objectives of the institute would be to boost the development of Human resources required for the  Nigerian Sugar industry.

“Objective of the NSI is also to conduct cutting edge research and development programmes that will underpin and serve as a catalyst in the development of the sugar industry.

”We also seek to tap into new technologies and innovative approaches as they emerge for the benefit of the industry; and to do all such other things as may be considered incidental or conducive to the overall development of the sugar industry,” he said.

Hotflex
Sigma Pensions

READ: FG says N10 billion disbursed funds not only for Covid-19 vaccines

What you should know

  • Recall Nairametrics reported this month that Vice-president, Prof. Yemi Osinbajo during an MSME stakeholders’ meeting, disclosed that the Federal Government in partnership with the private sector would continue to provide interventions to boost the growth of small businesses across the country.
  • The FG also announced in November 2020 that it will launch a National Investment Policy, which will entrench an investment-friendly environment that supports the sustainable development aspirations of the country.

british airways
Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Business

CBN includes sugar, wheat on FX restriction list

The CBN is set to include sugar and wheat in the forex restriction list.

Published

on

CBN forex restrictions on food itemsCBN approves new cheque standard for banks

The Central Bank of Nigeria has announced plans to place sugar and wheat on its FX restriction list.

The plan was disclosed by the apex bank via its verified Twitter handle in a statement credited to the CBN governor, Godwin Emefiele.

The tweet stated: “Sugar and Wheat to go into our FX restriction list. We must work together to produce these items in Nigeria rather than import them. #Emefiele.”

It would be recalled that over the years, the CBN has been reviewing its list of restricted food items to include more items, with the most recent being the addition of maize, a widely-consumed staple food in the country.

What you should know

  • The CBN governor, Mr Godwin Emefiele, had earlier (on Thursday) given this hint while on an inspection visit to the proposed $500 million sugar processing facility in Nasarawa state, belonging to Dangote Sugar.
  • In 2015, the CBN listed 41 items that had been placed on its FX restriction list citing that the move was necessary to conserve the nation’s foreign reserve and boost local production of the items on the restriction list.
  • Some of the items which made the 2015 list are margarine, poultry and eggs, rice, and cement.
  • In 2020, the apex bank included maize in its FX restriction list as it directed all authorised dealers to immediately discontinue the processing of Forms M for maize/corn importation into the country.
  • Nairametrics had also earlier explained in its publication following the new policy shift, that the government’s premise for deciding to restrict FOREX on food is faulty, especially since Nigeria has not attained full food security and the agricultural sector is still struggling.

Continue Reading

Business

FG signs new Sustainable Development Goals agreement with UN

The Agreement is for new development cooperation with initiatives towards achieving Sustainable Development Goals set in the UN Agenda 2030.

Published

on

Xenophobia, FG reacts to inclusion of Nigeria on religious freedom blacklist by United States

The Nigerian Government has signed a deal with the United Nations to develop new cooperation towards achieving Sustainable Development Goals.

This was disclosed by the Minister of Foreign Affairs, Geoffrey Onyeama, in a statement on Thursday after the agreement was signed with the United Nations Office for Project Services, UNOPS, represented by Ifeoma Charles.

The Minister said, “On behalf of the Nigerian Government, I signed an agreement with the UNOPS represented by Ifeoma Charles Multi-Country Office Rep. The Agreement is for a new development cooperation with initiatives towards achieving Sustainable Development Goals set in the UN Agenda 2030.”

What you should know 

The 17 Sustainable Development Goals are:

No Poverty; Zero Hunger, Good Health, and Well-being; Quality Education; Gender Equality; Clean Water and Sanitation; Affordable and Clean Energy; Decent Work and Economic Growth; Industry, Innovation and Infrastructure; Reducing Inequality; Sustainable Cities and Communities; Responsible Consumption and Production; Climate Action; Life Below Water; Life on Land; Peace, Justice and Strong Institutions; and Partnership for the Goals.

Continue Reading

  





Nairametrics | Company Earnings

Access our Live Feed portal for the latest company earnings as they drop.