U.S. Supports Nigeria Dairy Industry, To Train Stakeholders
The first shipment of pregnant Jersey breed dairy cows from the United States arrived at the Ikun Dairy Farm in Ekiti State. Ikun Dairy Farm – a joint venture between Promasidor Nigeria Limited and Ekiti State Government – plans to produce 10,000 liters of milk daily and will take delivery of two additional shipments of dairy cows from the U.S over the next couple of weeks.
These shipments will provide a better breed of cow for the rapidly growing Nigerian dairy industry, helping to diversify the Nigerian economy.
Gerald Smith, Counselor for Agricultural Affairs at the U.S. Mission to Nigeria noted that the introduction of U.S. dairy cows will boost local milk production and contribute significantly to ensuring sustainable food security in Nigeria.
Smith explained that the successful cattle shipment was as a result of the strong partnership between the Foreign Agricultural Service of the U.S. Mission in Nigeria, the Ikun Dairy Farm, and senior officials of the Nigerian Federal Ministry of Agriculture, with support from the Central Bank of Nigeria.
“The United States is the leader in producing dairy cows,” Counselor for Agricultural Affairs Smith said. “Promasidor Nigeria Limited in partnership with Ekiti State Government and with the strong support of the Central Bank of Nigeria have successfully started an integrated dairy industry in Nigeria with the acquisition of the first batch of pregnant Jersey breed dairy cows from the USA. A sustainable dairy industry requires modern genetic cows. This collaboration marks the start of increasing milk production and enhancing the dairy value chain in Nigeria,” he added.
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To further support the Nigerian dairy industry, Smith noted that the Foreign Agricultural Service of the U.S. Mission is designing a two-week long training programme in the United States for diverse Nigerian dairy stakeholders. The training programme holding later this year will introduce participants to the unique characteristics and genetic potential of U.S. dairy cows.
“We believe these efforts will maximize the local dairy sector’s potential and help Nigeria emerge as a major player in the dairy market in the region,” Smith added.
Based at the U.S. Consulate General in Lagos, the Foreign Agricultural Service is the overseas arm of the United States Department of Agriculture. It offers a variety of services to American and Nigerian agribusiness companies, government and non-government entities involved in agricultural trade and development. Through a variety of programmes, the service helps developing countries strengthen sustainable agricultural practices by providing capacity building opportunities.
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BREAKING: CBN Speaks On Devaluation Of Naira To N630/$1
The Central Bank of Nigeria ( CBN) on Thursday denied devaluing the naira .
This clarification came from the
Acting Director, Corporate Communication, Dr. Isa AbdulMumin, in a statement titled, “CBN Has Not Devalued the Naira”.
He said: “The attention of the Central Bank of Nigeria (CBN) has been drawn to a news report… titled “CBN Devalues Naira To 630/31”.
“We wish to state categorically that this news report, which in the imagination of the newspaper is exclusive, is replete with outright FALSEHOODS and destabilizing innuendos, reflecting potentially willful ignorance of the said medium as to the workings of the Nigerian Foreign Exchange Market.
“For the avoidance of doubt, the exchange rate at the Investors’ & Exporters’ (I&E) window traded this moming (June 1, 2023) at N465/US$1 and has been stable around this rate for a while.”
The bank advised the public to ignore the news report in its entirety, saying it’s speculative and calculated at causing panic in the market.
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BREAKING: After Subsidy Removal, NNPC Increases Petrol Price To Over N500
The Nigerian National Petroleum Company Limited (NNPC) on Wednesday adjusted the pump price of petrol by over 100% to between N488 and N557.
The development followed the announcement by President Bola Tinubu during his inaugural address on Monday that fuel subsidy was ‘gone’.
However, it was learnt that the president will meet with organised labour from 2pm Thursday (today) afternoon.
The prices have now been adjusted upward from between N189 to N194 to N537 per litre in Abuja and other North-central States.
For Lagos and other South-west states, a litre of fuel now sells for between N488 and N500 per litre.
In the South-east, the price will range from N515 to N520, while in the North-west, the price of the product was raised to N540. In the North-east, it moved from N199 to N557 per litre.
For the South-south, it is now from N511 to N525 per litre. Nigeria’s subsidy budget of N3.6 trillion for this year, expires in June, 2023.
BREAKING: FCMB Founder Olasubomi Balogun Dies
Theo Founderf First City Monument Bank (FCMB), Otunba Michael Olasubomi Balogun, is dead.
According to reports, family sources revealed that Balogun died in London Friday morning at the age of 89.
He was Otunba Tunwase of Ijebuland before his death.
As a ranking Ijebu Chief, his death will, however, only be officially announced in line with tradition.
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