Author: Editor

The Federal Government says the poultry industry in Nigeria contributes over 25 percent of the agricultural Gross Domestic Product (GDP). The Minister of State for Agriculture and Food Security, Aliyu Abdullahi, disclosed this on Thursday in Abuja at the Stakeholders Consultative Forum on Egg Powder Processing and Utilization in Nigeria. The theme of the forum was “Promoting Sustainable Egg Processing and Utilisation for Food and Nutrition Security in Nigeria.” He said the poultry industry in Nigeria had made tremendous progress in the last decade, adding that it had grown into an organized and highly productive industry. “It has become the…

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The Economic and Financial Crimes Commission (EFCC) has issued a stern warning to the public regarding obstruction of its operations. This statement came hours after, it was alleged that former Kogi governor Yahaya Bello was reportedly taken from his Abuja residence by his successor, Governor Usman Ododo, amid efforts by the commission to arrest and prosecute him for alleged involvement in N80.2 billion money laundering. According to EFCC spokesperson, Dele Oyewale in a statement Wednesday said Section 38(2)(a(b) of the EFCC Establishment Act makes it an offence to prevent officers of the Commission from carrying out their lawful duties. Culprits…

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The Central Bank of Nigeria (CBN) has reduced the Loan-to-Deposit Ratio (LDR) of deposit money banks from 65 percent to 50 percent. This is according to a letter by CBN’s Acting Director, Banking Supervision Department, Dr Adetona Adedeji, addressed to all banks. Adedeji said that the reduction is in similar proportion to the Cash Reserved Ratio of banks, which is 45 percent. He said that the directive is part of measures to deepen monetary policy tightening and improve lending in the real sector of the economy. “Following a shift in policy stance towards a more contractionary approach, it is imperative…

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The Federal Government has inaugurated the 6th Council of the Nigerian Institute of Animal Science (NIAS). The NIAS is the regulatory agency of the ministry of Agriculture and Food Security on Animal Husbandry. The Minister of State for Agriculture and Food Security, Sen. Aliyu Abdullahi, while inaugurating the council on Wednesday in Abuja, urged them to bring their experience and expertise to bear towards actualising food and nutrition security. He expressed confidence that the institute through the guidance of the council would provide positive short- and long-term solutions to build resilience and sustainability across the livestock value chain. The minister…

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