for June 2018 VOLUME 3 ISSUE 52 nationwide advocacy programme for farmers, processors and extension workers in states and local governments on the standard and codes of practice for beans and other grains. Excerpt: Vanguard The Nigeria Extractive Industries Transparency Initiative (NEITI) says the solid minerals sector contributed N43.22 billion to government coffers in 2016. In a report released by the agency on Tuesday, it was also recorded that Nigeria's solid minerals production jumped by 33 percent in the same year, with Ogun state taking the lead in production and revenue receipt. The report, signed by Orji Ogbonnaya Orji, NEITI's director, communications and advocacy, gave a breakdown of figures generated from the sector and how it fared in the 2016 fiscal year. HERE ARE THE HIGHLIGHTS OF THE REPORT: Taxes collected by the Federal Inland Revenue Service (FIRS) accounted for N40.38 billion (93.43%) while fees collected by the mining cadastral office stood at N1.15 billion (2.66%). The mining inspectorate department (MID) recorded N1.64 billion as royalty payments, an increase of 30.15% over the N1.27 billion reported as royalty payments in 2015. The audit conducted under the EITI principles and standard reconciled payments made by mining companies in terms of taxes, royalty, and rents against receipts of such payments by relevant government agencies. Total minerals production for 2016 was 41.8million tonnes valued at N34.09billion, representing 33% increase on the N25.56bn reported in 2015. The Standards Organisation of Nigeria (SON) Monday, gave highlights in line with the Nigerian Industrial Standards (NIS) and Codes of Practices for beans processing across the country. ADVERTISING ADVERTISING The Director General, SON, Osita Aboloma in a statement to commend a consumer for reporting a beans vendor who preserves beans with pesticide, stating that the standards are relevant Nigeria Industrial Standards and Codes of Practice for beans along the value chain, to take care of issues concerning the proper preservation of the crop from planting to the table while also assuring the safety of consumers. He enumerated the Standard and Codes of Practice as follows; Standard for Dry Beans (NIS 1030: 2018); Code of Good Agricultural Practice: Planting of Dry Beans (NCP 065: 2018), Code of Good Practice: Harvesting of Dry Beans (NCP 067: 2018); Code of Practice for Packaging of Dry Beans (NCP 064: 2018), Code of Practice: Storage and Transportation of Dry Beans (NCP 066: 2018). The SON helmsman urged Nigerians in general to take greater interest in their welfare by reporting to relevant regulatory and security agencies any suspected unwholesome, sub-standard or life endangering products or practices. He however commended the consumer who reported to the police the beans vendor for using a pesticide for the preservation of the crop on sale. According to him, such individual and collective awareness by consumers in general are essential for effective standards implementation and and codes of practices, which have been approved for use by the Standards Council, were results of consensus decisions by stakeholders, including, farmers, processors, Federal Ministry of Agriculture (FMoA) officials, regulatory agencies, academicians, research institutes and consumer advocates, among others, while SON officials provided the Secretariat. The SON Chief Executive stated that plans are ongoing among the FMoA, other regulatory agencies and SON for a However, tax collection and payment of other fees for 2016 reduced by 32% when compared to N63.98bn recorded in 2015. While 651 extractive companies made royalty payments in 2016, 56 companies that met the materiality threshold of N3million and above were considered for reconciliation. The companies that met this threshold accounted for 86.87% of the total royalties paid. OGUN, KOGI, FCT IN THE LEAD Ogun state contributed 33.49% to the total production of minerals to top the table, followed by Kogi state with a contribution of 19.7%, while the Federal Capital Territory came third with 6.20%. Dangote Cement Plc, West African Portland Cement Plc, and United Cement Company of Nigeria Limited (UNICEM) contributed 70% of total production, showing that the cement sub-sector is still dominant in solid. Excerpt: The Cable With the Federal Government seeking ways to boost food production and increase output, focus seems to have shifted to horticulture, which has the potential to deliver big returns to the industry. Hibiscus is one horticulture produce, which export can earn foreign exchange. DANIEL ESSIET reports. Internationally, the dry hibiscus flower, locally known as Zobo, can be processed into hot and cold herbal beverages, jellies and confectioneries, among others. This has made it one of the key raw materials in the global confectioneries industry. Hibiscus flower SON Realeases New Standards for Beans Processing Export News: Export Programme: Export Education: Export Training Products: Export Miscellaneous: INSIDE THIS ISSUE SON Releases New Standards For Beans Processing - 1 With US-China Trade War, 20-30% Import From China is a Threat to Nigerian Economy - 3 Importer’s Companion and more - 3 Commodity Prices, Infograph, and lots more - 3 & 4 Import Processes, LC & BC and More - 2 Top News Son Releases New Standards For Beans Processing Ogun Leads As Nigeria's Solid Minerals Output Jumps By 33% Boosting Hibiscus Export Anambra Yam Export and Food Security Ogun Leads as Nigeria’s Solid Minerals Output Jumps by 33% Boosting Hibiscus Export
Transcript
for June 2018
VOLUME 3 ISSUE 52
nationwide advocacy programme for farmers, processors and extension workers in states and local governments on the standard and codes of practice for beans and other grains.
Excerpt: Vanguard
The Nigeria Extractive Industries Transparency Initiative (NEITI) says the solid minerals sector contributed N43.22 billion to government coffers in 2016.In a report released by the agency on Tuesday, it was also recorded that Nigeria's solid minerals production jumped by 33 percent in the same year, with Ogun state taking the lead in production and revenue receipt.The report, signed by Orji Ogbonnaya Orji, NEITI's director, communications and advocacy, gave a breakdown of figures generated from the sector and how it fared in the 2016 fiscal year.HERE ARE THE HIGHLIGHTS OF THE REPORT:Taxes collected by the Federal Inland Revenue Service (FIRS) accounted for N40.38 billion (93.43%) while fees collected by the mining cadastral office stood at N1.15 billion (2.66%).The mining inspectorate department (MID) recorded N1.64 billion as royalty payments, an increase of 30.15% over the N1.27 billion reported as royalty payments in 2015.The audit conducted under the EITI principles and standard reconciled payments made by mining companies in terms of taxes, royalty, and rents against receipts of such payments by relevant government agencies.Total minerals production for 2016 was 41.8million tonnes valued at N34.09billion, representing 33% increase on the N25.56bn reported in 2015.
The Standards Organisation of Nigeria (SON) Monday, gave highlights in line with the Nigerian Industrial Standards (NIS) and Codes of Practices for beans processing across the country. ADVERTISING ADVERTISING The Director General, SON, Osita Aboloma in a statement to commend a consumer for reporting a beans vendor who preserves beans with pesticide, stating that the standards are relevant Nigeria Industrial Standards and Codes of Practice for beans along the value chain, to take care of issues concerning the proper preservation of the crop from planting to the table while also assuring the safety of consumers. He enumerated the Standard and Codes of Practice as follows; Standard for Dry Beans (NIS 1030: 2018); Code of Good Agricultural Practice: Planting of Dry Beans (NCP 065: 2018), Code of Good Practice: Harvesting of Dry Beans (NCP 067: 2018); Code of Practice for Packaging of Dry Beans (NCP 064: 2018), Code of Practice: Storage and Transportation of Dry Beans (NCP 066: 2018). The SON helmsman urged Nigerians in general to take greater interest in their welfare by reporting to relevant regulatory and security agencies any suspected unwholesome, sub-standard or life endangering products or practices. He however commended the consumer who reported to the police the beans vendor for using a pesticide for the preservation of the crop on sale. According to him, such individual and collective awareness by consumers in general are essential for effective standards implementation and and codes of practices, which have been approved for use by the Standards Council, were results of consensus decisions by stakeholders, including, farmers, processors, Federal Ministry of Agriculture (FMoA) officials, regulatory agencies, academicians, research institutes and consumer advocates, among others, while SON officials provided the Secretariat. The SON Chief Executive stated that plans are ongoing among the FMoA, other regulatory agencies and SON for a
However, tax collection and payment of other fees for 2016 reduced by 32% when compared to N63.98bn recorded in 2015.While 651 extractive companies made royalty payments in 2016, 56 companies that met the materiality threshold of N3million and above were considered for reconciliation.The companies that met this threshold accounted for 86.87% of the total royalties paid.OGUN, KOGI, FCT IN THE LEADOgun state contributed 33.49% to the total production of minerals to top the table, followed by Kogi state with a contribution of 19.7%, while the Federal Capital Territory came third with 6.20%.Dangote Cement Plc, West African Portland Cement Plc, and United Cement Company of Nigeria Limited (UNICEM) contributed 70% of total production, showing that the cement sub-sector is still dominant in solid.Excerpt: The Cable
With the Federal Government seeking ways to boost food production and increase output, focus seems to have shifted to horticulture, which has the potential to deliver big returns to the industry. Hibiscus is one horticulture produce, which export can earn foreign exchange. DANIEL ESSIET reports.Internationally, the dry hibiscus flower, locally known as Zobo, can be processed into hot and cold herbal beverages, jellies and confectioneries, among others. This has made it one of the key raw materials in the global confectioneries industry. Hibiscus flower
Top NewsSon Releases New Standards For Beans Processing
Ogun Leads As Nigeria's Solid Minerals Output Jumps By 33%
Boosting Hibiscus Export
Anambra Yam Export and Food Security
Ogun Leads as Nigeria’sSolid Minerals Output
Jumps by 33%
Boosting Hibiscus Export
for June 2018
Page 2.
export holds great promise as an economy booster, especially in the era of diversification from oil.However, adequate attention is not being given to it and others in the It has been marked as a viable agriculture. Hibiscus business is a profitable venture with the potential to create employment and wealth. Last year, Nigeria exported 1,983 containers of hibiscus to Mexico alone, earning $35 million within nine months.Hibiscus grows nearly throughout the year and can be sourced in states such as Jigawa, Kano, Katsina, Gombe, Bauchi and Borno.The Federation of Agricultural Commodities Association of Nigeria (FACAN) President, Dr. Victor Iyama, described hibiscus as one of the most important crops to the economy. While the market holds great potential, Iyama believes that the sector is just at its nascent stage. He noted that there are hurdles to be crossed before it becomes a money spinner.For instance, he said, although its production is increasing, the country has, however, failed to meet the quality standard set by importing countries in terms of use of chemical fertiliser and other issues.Mexico is the most prominent destination for Nigerian hibiscus, but in 2015, it improved checks on Nigerian hibiscus exports, alleging adulteration.According to Iyama, one thing Nigeria can do to address this is to set up standard sanitary and phyto-sanitary labs, as well as increase processing to earn more foreign exchange through value adding.Excerpt: The Nation
Agriculture in Nigeria has recorded continued decline in almost four consecutive quarters, according to the National Bureau of Statistics (NBS). This trend signals impending food challenge.
The food crisis that may engulf Nigeria from this phenomenon can however be averted if the states take concrete steps to boost agriculture and expand the frontiers of agro-allied value chain.
This is what Gov. Willie Obiano of Anambra state has done by signing a N1.4 billion Memorandum of Understanding (MoU) recently with a private investor – NKO Farms Limited – for improved production and processing of yam tubers and flour in the state.
The details, as revealed by Obiano, showed that the deal is for an all-year-round cultivation of yam and processing of yam flour for export. The project will be located on a 100-hectare farm acquired at Achalla in Awka North local government area, where a purpose-fit processing plant will also be established.
Being a private sector-driven venture, the investor would bear the greater financial commitment by contributing 75 per cent equity stake in the deal put at about N1.07 billion, while the state government would provide the remaining 25 per cent equity.
To show the seriousness attached to the MoU, the investor is required to mobilise to site within 90 days of execution of the MoU or risk having the land title revoked and automatically revert to the state government in case of default.
Excerpt: Thisday
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VOLUME 3 ISSUE 52
Anambra Yam Exportand Food Security
HEADLINES
FG Restates Commitment toRevamp Onitcha Island Port
- Vanguard
Farmers Wants FG toBan Maize Importation
- Vanguard
OTHER
Free Export LicenceFree subscription to join African Export DevelopmentInitiative (AFED)Guaranteed Contracts for Export (T&C Apply)Export Mentoring Program with 20% discount Free Export Book & Advisory Service.
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Page 3. VOLUME 3 ISSUE 52
A number of people might argue that, the reason why many people are flocking to China to purchase what they need for their factory is because of the competitive prices. To the extent that this is true, however, I think the government has the responsibility to look beyond profitability and focus on the impact of this concentration risk on the economy. If this trend continues unchecked and China experience any form of economic challenges, which has already started from the depreciation of Chinese currency resulting from the trade war
EXPORT ORDERS
LOCAL ORDERS
COMMODITY PRICES (LONDON METAL EXCHANGE AND BLOOMBERG)
S/N
S/N
PRODUCT
COMMODITY
SPECIFICATION MINIMUM SHIPMENT
1.
2.
3.
1.
2.
3.
4.
5.
6.
7.
PRODUCT SPECIFICATION PAYMENT MONTHLY VOLUME
Zinc Ore Purity 35% 60MT Per Month
120MT Per Month
60MT Per Month
121MT Per Month
60MT Per Month
122MT Per Month
Purity 60%
Purity 30%Lead Ore
Lead Oxide
Zinc Ore
Lead Ore
Lead Oxide
Purity 35%
Purity 60%
Purity 30%Bank Guarantee
Bank Guarantee
Bank Guarantee
Lead
Zinc
Cocoa Beans
Copper
Tin
Alluminium
Cotton
S/N
1.
2.
3.
PRICES UNIT OF MEASUREMENT
Metric Tonne
Bushel
Pounds
Metric Tonne
Metric Tonne
Metric Tonne
Metric Tonne
USD 1,960.00
USD 2,641.00
USD 2,234.00
USD 6,181.00
USD 19,450.00
USD 1,914.00
USD 78.74
Cont'd from previous issue
With US-China Trade War, 20-30%Import From China Is A Threat ToNigerian Economy
Author: Bamidele Ayemibo
Price: N 5,000
Title:
Importers’s Companion
Speaker: Bamidele Ayemibo
Price: N 5,000
Title:
Exporter’s Companion
Export TrainingProducts
Export
Miscellaneous:
between the USA and China, these will have an adverse effect on the Nigerian economy since all the factories that solely depend on China will have to either contend with the resulting high cost of importation from China or close down their operations.The implication of over reliance of the manufacturing sector of the Nigerian economy on a single country is far reaching. An adverse situation in the politics and economics of China mean a decline in the importation of machineries, raw materials and spare parts. This might consequently
leads to the reduction in product output and thus leading to a decline in income and profitability of such organisation and possibly a recession in the Nigerian economy. The implications of all these is retrenchment of workers and increased u n e m p l o y m e n t i n t h e c o u n t r y. A government that is forward thinking will not wait until things get out of hand but rather put processes and system in place to mitigate this before it becomes too late
