harvests
Canada, Germany, EU, others funding farming in northeast Nigeria
The People and Government of Canada, the European Union Trust Fund for Africa, the European Civil Protection and Humanitarian Aid Operations, the Federal Republic of Germany, the Kingdom of Norway and the Kingdom of Sweden are funding the 2021 rainy season farming in troubled North-east of Nigeria. The funding, which is implemented through the Food and Agriculture Organisation of the United Nations (FAO), is providing farming inputs to 65,800 farmers in Borno, Adamawa and Yobe States adversely affected by over a decade Boko Haram insurgency. A statement on Friday by FAO recognized that the rainy season farm cultivation is critical to food production in Nigeria, as it ensures food availability and income generation, especially for smallholder and low-income households. The statement read: “...
CBN: Naira to fall further in January
Barely five days to the end of the year 2020, the Central Bank of Nigeria has disclosed that a survey carried out by its Statistics Department revealed that the naira is expected to depreciate further in January 2021. The report, titled, ‘December 2020 Business Expectations Survey Report’ added that there might also be a steady rise in interest rate from December till the next six months. The naira witnessed a sharp fall in recent weeks, reaching its lowest on November 30, 2020, when it exchanged for N500/$1. Since then, the dollar has been hovering between N460 and N470. As of Friday, however, one dollar exchanged for 465 in the parallel market. Also, the Nigerian economy had on November 21 slid into its second recession in five years when the economy shrank again in the third quarter. Th...
