AGCO to establish multi-million tractor factory in Nigeria

   A multi-million Naira assembly plant is being targeted by North American company, AGCO which specializes in manufacturing of agricultural equipments, in anticipation of Nigeria’s dream to grow the sector with 300,000 within the next three years.

AGCO offers a full product line including tractors, combines, hay tools, sprayers, forage equipment, groundscare and implements through more than 8,500 independent dealers and distributors around the world.

DigitalSENSE News investigation reveals that AGCO is likely to provide this number of tractors through its worldwide retail financing scheme known as Agricredit joint venture.

Experts at Investopedia says joint venture is the cooperation of two or more individuals or businesses in which each agrees to share profit, loss and control in a specific enterprise. Describing it as a good way for companies to partner without having to merge and are typically taxed as a partnership.

Making this disclosure recently, the Federal Minister in-charge of Agriculture and Rural Development, Dr. Akinwunmi Ayo Adesina, noted that AGCO is the largest manufacturer of Marcy Ferguson tractors globally.

He also stressed that FG has advanced strategies for the establishment of assembly plants in the country following a discussion with the manufacturer in April.

“Nigeria needs at least 300,000 tractors, to enable our youth to get into agriculture as a business,” he declared.

Equally speaking in Abuja, Dr. Adesina reiterated the resolve of the Federal Government, pointing out that already the Nigerian government has concluded farmers’ census, while introducing an agric-wallet and employment of 36 agriculture directors, who have been deployed nationwide at the state capitals.

AGCO offers a full product line including tractors, combines, hay tools, sprayers, forage equipment, groundscare and implements through more than 8,500 independent dealers and distributors around the world. AGCO provides retail financing worldwide through its Agricredit joint venture.

DigitalSENSE News gathered that historically, AGCO Corporation has its roots in the North American farm equipment industry with its heritage reaching as far back as the mid 1800’s through many of its brands. However, its direct lineage is from the Allis-Chalmers brand name.

Also, in 1990 KHD sold its Deutz Allis division to AGCO and ever since, the company has become a world-wide farm machinery company through market growth and strategic acquisitions.

Today, AGCO prides itself with sales of approximately USD$7 billion, about N 1,104,949,957,275.39 trillion, and AGCO is listed on the New York Stock Exchange under the symbol AG.

 

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N1.59trn on wheat imports, unacceptable – Jonathan

Nigeria women processing cassava

Nigeria President, Dr. Goodluck Jonathan has expressed federal government’s unacceptability over the importation of wheat, rice, sugar and fish only which amounts to over $10 billion, about N1.59 trillion.

He also said the federal government is facilitating the importation and installation of 100 new large scale integrated rice mills in Nigeria to enable the nation with a capacity to mill all locally consumed rice.

NaijaAgroNet gathered that the federal government would not only sustain farming in the nation as the largest producer of cassava in the world but also to ensure that Nigeria is the largest processor of high value cassava products globally.

To achieve this, President Jonathan said tariff and levy on the importation of wheat has been increased and proceeds from the levy will be used to support corporate bakers and master bakers across the country to use high quality cassava flour for baking.

The funds generated from the wheat levy, NaijaAgroNet learnt would be set aside to also support the promotion of high quality cassava flour and composite cassava bread in form of technical training, equipment for corporate baker as well as enzymes needed for production.

“Nigeria will export this year 1 million metric tonnes of dried cassava chips to China,” this he said would earn the nation $136 million, about N21.7 billion in foreign exchange.

The federal government is also reviving cocoa’s lost glory with massive distribution of about 3.6 million free pods of high-yielding cocoa varieties for farmers. Free cotton seeds will also be distributed to cotton farmers in the north.

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Football star calls for funding to prevent food crisis in Sahel

FAO Goodwill Ambassador, Raúl González

Goodwill ambassador for the United Nations Food and Agriculture Organisation (FAO), Raúl González has called for support towards prevention of nutrition crisis in the Sahel region of West Africa.

The Spanish football star, González visited Chad recently where more than 17 million people are at risk of hunger with over 1 million children under five, facing acute hunger.

FAO revealed to NaijaAgroNet in a press statement that the European Commission had increased their support to FAO in Chad by $1.3 million, about N208.3 million bringing its total support for the region to be $355 million, about N56.88 billion in 2012.

Identifying the fact that supporting local farmers and herders as priorities before and during the next planting season, Raúl said "If we want to help people grow their own food, funds are needed now."

The total amount needed by FAO in order to assist Burkina Faso, Chad, Gambia, Mali, Mauritania, Niger and Senegal is estimated at $97 million.

Director General, FOA, José Graziano da Silva said the funds would be used for seed distribution, small-scale irrigations schemes, fodder production and vaccination campaigns.

Director General, FOA, José Graziano da Silva

The major causes of the drought in the region, NaijaAgroNet recalls, have been as a result of chronic poverty, high food prices, conflict and the last year's drop in cereal production.

"We are losing the opportunity to give local communities the means to stop jumping from crisis to crisis," FAO boss, José Graziano warns, urging coordinated action that builds up their resilience and links relief with development.

Raúl's visitation to Chad, FAO noted, is part of "Professional Football Against Hunger," a campaign launched in 2008 by the European Football League which represents 30 largest professional football leagues and almost 800 clubs across Europe, stressing that the campaign is also FAO's leading international efforts to defeat hunger.

Sir David Richards, Chairman of the Association of European Professional Football Leagues (EPFL), said they are partnering with European Community Humanitarian Office (ECHO) and FAO on this project.

"We are proud to use the power and popularity of football," he said, pointing out that European professional football is providing a megaphone to raise awareness for their work, so that the right help could get to the people in need as soon as possible.

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FG inaugurates agric transformation for food security

President Goodluck Jonathan

Nigerian President, Dr. Goodluck Ebele Jonathan recently launched the Agricultural Transformation Implementation Council (ATIC) so as to achieve food security.

The minister, Agriculture and Rural Development, Dr. Akinwunmi Adesina, is to co-ordinate the council with the president, Goodluck Jonathan and the vice president, Namadi Sambo as Chairman and alternate chairman respectively.

The agenda of the council is to increase efficiency and profitability along the value-added chains of 12 selected agricultural commodities, namely cotton, cocoa, cassava, oil-palm, maize, soya bean, onion, rice, livestock, fisheries, tomato and sorghum.

NaijaAgroNet gathered that the Council would also provide an oversight functions for the entire Agricultural Transformation Agenda and the creation of 3.5 million new jobs from rice, cassava, sorghum, cocoa and cotton value chains.

Over N60 billion will also be injected into the economy from the substitution of 20 per cent of bread wheat flour with cassava flour, which was successfully launched recently by President Jonathan. 

Source: Vanguard

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Agric, key to nation's survival- Tukur

Dr. Bamanga Tukur

Dr. Bamanga Tukur, the National Chairman of the Peoples Democratic Party has asserted agriculture to hold the key to the survival of Nigeria.

This he said at a grand reception held in his honour by the party in his home town, Jada, Adamawa State recently.

NaijaAgroNet learnt that Dr. Tukur said agriculture has the potentials for creating millions of jobs, eradicating poverty and arresting youth's restiveness.

"It is by massively investing in agriculture that we can truly eradicate poverty, create millions of jobs and reduce insecurity," he said that Nigeria is blessed with vast land and water.

He called on state governments in the nation to develop a minimum of 50, 000 hectare of arable land for round-the-year farming. "If we do that, youth's restiveness shall be a thing of the past." 

Source: DailyTimes

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FG targets 3.5m jobs in agric sector

Nigerian President, Dr. Goodluck Ebele Jonathan

President Goodluck Ebele Jonathan has said the Federal Government has plans to create about 3.5million jobs in the agricultural sectors by 2015.

He revealed at a convocation ceremony of the Federal University of Agriculture, Abeokuta, Ogun State, that an initiative would be put in place to enable existing Universities of Agriculture in the country to establish Departments of Transfer and Acquisition.

NaijaAgroNet learnt that the president was represented by the Minister of Education, Mrs. Rukkayatu Rufai, who said the initiative would facilitate the development of appropriate technologies for eventual transfer to the farming communities of the nation.

“The federal government is putting an initiative in place to enable the three existing Universities of Agriculture in the country establish Departments of Technology Transfer and Acquisition as part of the curricula in their respective institutions,” she said, stressing that her ministry expects the university management and faculties to embark on innovative and creative means of complementing government are funding efforts. 

Source: ThisDay.

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