US Revitalises Credit Program to Expand Agro-Trade with Nigeria

US Revitalises Credit Program to Expand Agro-Trade with Nigeria

The United States has formally reactivated its Export Credit Guarantee Program (GSM-102) to deepen agricultural trade ties with Nigeria. The initiative, managed by the U.S. Department of Agriculture, provides essential credit guarantees to Nigerian banks and importers, reducing the risk associated with purchasing U.S. agricultural inputs. This move marks a strategic shift in U.S. diplomatic…

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Nigeria Tops Africa With 38 Million Tonnes of Food Wasted Yearly, EU Says

  Nigeria discards roughly 38 million tonnes of food each year, the highest volume of any African nation, according to data disclosed by the European Union during this year’s International Zero Waste Day commemoration in Abuja. The staggering figure has prompted urgent calls from the EU, Federal Government, and United Nations Industrial Development Organisation for…

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Economic Reforms Fail to Lift Nigerians from Poverty - World Bank

World Bank Approves $500m to Fix Nigeria’s Agriculture

The World Bank has approved a $500m credit to repair Nigeria’s underperforming agricultural sector. This fresh injection of capital from the International Development Association targets the chronic low productivity that plagues smallholder farmers. Dubbed the AGROW project, the scheme aims to turn subsistence plots into commercially viable businesses. It arrives at a time of deep…

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Nigerian Rice Industry Crumbles as Imports Hit N51bn

Nigerian Rice Industry Crumbles as Imports Hit N51bn

Nigeria spent N51 billion ($34.4 million) on foreign rice in 2024, signaling a sharp reversal of the self-sufficiency gains claimed by the previous administration. Data from UN Comtrade confirms that local rice has become uncompetitive against cheaper imports. High production costs and expensive energy are pricing Nigerian farmers out of their own market. President Bola…

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