GTBank loans N5.55billion to agricultural projects

In an effort to boost capacity, increase production and employment opportunity in the nation’s agriculture sector, GTBank has given out N5.55billion in loans to eight commercial agricultural projects across the country.

Vanguard reports that the funds provided by the bank through its Commercial Agriculture Credit Scheme (CACS) have been put to use in almost all aspects of agriculture ranging from crop and animal farming to fishery.

Segun Agbaje, the Chief Executive of GTB was quoted as saying they believe that profitability potentials inherent in the agriculture sector would be enough to attract financing, making it a sustainable profitable business for banks like GTB. Read more.

Admin/LS

... Linking agrobiz, people & technology

Nigeria contributes 5% of world cocoa - ICO

A recent report by the International Cocoa Organization (ICO) revealed that Nigeria only contributes five per cent of the world cocoa production at present, reports NigerianTribune.

The report noted that decades ago cocoa generated about 90 per cent of Nigeria’s foreign exchange, even as most of today's leaders were trained with the income from it and monuments built in the South West part of the country from the same income.

Also, the report stated that Nigeria is the only country whose cocoa production has reduced drastically of all the six leading producers in the world, despite contributing a record of eight per cent of the total cocoa production in the world, coming fourth after Ghana in 1982. Read more

Admin/LS

... Linking agrobiz, people & technology

Zambia records bumper maize harvest

The 2010/2011 farming season in Zambia ended with a massive harvest of 3,020,380 metric tons maize to beat the previous season's harvest of 2,795,485 metric tons by eight per cent, reports ThePost.

Brain Tembo, the Executive Chairman of Zambian Agriculture Commodities Exchange (ZAMACE) said there are no reasons to celebrate the abundant harvest since there is a break in the marketing policies and government also spent uncontrolled expenditure on the grains.

He also advised the government to make setting up silos storage centre an investment priority and the establishment of community dryers to discourage small holder farmers from relying on sun to dry their crops. Read more

Admin/LS

... Linking agrobiz, people & technology

Extinction awaits freshwater fish - Scientists

Scientists have blamed human activities for the extinction of freshwater fish, even as more than one third of the fish is threaten to extinct by overfishing and construction.

Telegraph have it that with more than 7.5million African relying on fresh water fish for food and income, the scientists further warned that the loss survive by the fish could have terrible repercussion for human.

Manager of freshwater unit at the International Union for Conservation of Nature's Red List in Cambridge said with some gaps in their knowledge, 36 per cent of the 5, 685 species accessed are threatened. Read more

Admin/LS

... Linking agrobiz, people & technology

Germany to release documentation @ Falling Walls confab’11

German government through the Federal Ministry of Education and Research is collaborating with the organizers of Berlin Wall to release a documentary entitled ‘Falling Walls – Documentation 2009-2010.’

The documentation would released at this year’s international conference on Future Breakthroughs in Science and Society, otherwise named Falling Walls conference, supported by some scientific organization and German Federal Ministry of Education and Research.

A press statement made available to NaijaAgroNet by Doreen Rietentiet of the Falling Walls Foundation Berlin, Germany, said the unique documentation is made of past conferences.

“The book provides a concise snapshot of the status of leading research throughout the world,” Doreen said, adding that it featured latest research in HIV Therapy, Islamic Studies, Capitalism Planning, Blindness Cure, Sustainable Manufacturing, Pain Relief Policies, Public Art and many other fields.

This, Doreen noted, brings together the full manuscripts of the 15-minute lectures presented at the past Falling Walls Conferences including the best pictures and quotes from the press and the audience.

The official explained that the Falling Walls Conference is an annual global gathering of estimated 600 participants from science, business, media, the arts and politics.

“Every year, on 9 November, the anniversary of the fall of the Berlin Wall, 20 world-class researchers present their scientific breakthroughs and a perspective on their impact on our lives,” Doreen said.

Admin/LS

... Linking agrobiz, people & technology

Youth Empowerment scheme to fight unemployment of Nigerian youths

A project by the Youth Empowerment Scheme Through Agriculture and Farming (YESTAF) is designed to provide a platform for the youth to practice modern agriculture in rural arrears, reports AllAfrica.com

The project according to Malam Abdul, a member of the programme initiators is to create employment opportunities for Nigerian youths by getting them involved in modern farming in order to reduce the rate at which politicians make use of them as errand boys and thugs during electioneering.

He further said that agriculture holds the key to the nation's security by getting the youths to be fully engaged as there would be provision for seeds, tractors, water and other inputs to make it less cumbersome. Read more

Admin/LS

... Linking agrobiz, people & technology

Liberian opposition wants duty-free rice

Liberian's opposition party, the Liberty Party (LP), has called on the Liberian government to reduce the cost of rice alongside other basic commodities to fight against food insecurity in the country.

The party also advised that granting duty free importation on rice, temporary elimination of tax on gas with the suspension of government discretionary spending could be used to aid in the reduction.

Israel Akinsanya II, Liberty Party national chairman said, ordinary Liberians are feeling the pinch of higher basic commodities. Read more

Admin/LS

... Linking agrobiz, people & technology

African crop to decline by 2050

The Inter-Governmental Panel (IGP) on climate change has predicted that Africa crop yields would fall by 50 per cent between now and year 2050, reports AllAfrica.

According to a research the risk of future climate change is very high on the continent, while its impact on agriculture, ecosystems and livelihoods would be catastrophic.

The most severe impact, the panel disclosed would be felt in Africa.

Some of the impact, the panel noted is evident in Somalia where a combination of drought, hunger and conflict have given birth to famine, the worst in more than half a century. Read more

Admin/ED

... Linking agrobiz, people & technology

Half of Madagascar's population suffer food insecure

Madagascar, having all her food security indicators in red, one of every two of her populace has food insecurity.

The United Nations (UN) Special Rapporteur, Mr. Olivier De Schutter has said that Madagascar currently has the highest level of malnutrition in the world with the food security crisis having a proportional rise of 68 per cent in the south of the country, reports StarAfrica.

He pointed out that aggravating the situation are the international sanctions imposed on the island and governmental inactions. Read more

Admin/LS

... Linking agrobiz, people & technology

Dought: Tanzania to assist East African nations

Tanzania is set to negotiate with any affected countries in the drought ravaging the eastern African countries, to provide food, reports TheCitizen.

The Tanzania Minister for Agric, Food Security and Cooperative, Prof. Jumanne Maghembe urged countries affected with the food crisis to deal directly with Tanzania government and not farmers for food purchase.

The population of people in need of food in the affected nations, he said, is expected to rise as a result of the failure of the April-June long rains in some areas while below-average in others. Read more

Admin/LS

... Linking agrobiz, people & technology