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Tag: Food

Nigeria to produce food worth €62bn by 2024 - Report
News

Nigeria to produce food worth €62bn by 2024 – Report

Nigeria will produce 48 per cent more food, or €62.6 billion, between 2021 and 2024, according to OTACCWA and Fairtrade. The Nigeria Agrofood and Plastprintpack trade exhibition organizers, Fairtrade and OTACCWA, said in a statement that the country’s food output increased from €26 billion in 2016 to €36.3 billion in 2020, a 39.6% improvement. According […]

BUA Foods sale hits N728 bn
Economy

BUA Foods sale hits N728 bn

Fortified Sugar generated the most income for BUA Foods among its several business sectors in 2023. The PUNCH revealed that the company’s overall sales increased by 74.13% to N728.48 billion in 2023 from N418.35 billion the year before, driven mostly by a 153% increase in revenue from fortified sugar to N327.55 billion. The unaudited financial results […]

Food drives August's inflation rate to 25.80% - NBS
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Food drives August’s inflation rate to 25.80% – NBS

Inflation increased to 25.8 percent in August from 24.08 percent in July, according to numbers released by the National Bureau of Statistics on Friday. According to the Punch, NBS’s Consumer Price Index for August 2023 revealed that the headline inflation rate jumped to 25.80% in August 2023 compared to the headline inflation rate in July 2023, […]

FG budgets N8.68tn for agric, food imports - Report
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FG budgets N8.68tn for agric, food imports – Report

The Federal Government budgeted an estimated N8.68tn for agriculture and food imports from 2016 to 2021, according to a report. The PUNCH reported that of the estimated N8.68tn, about N874.83bn was budgeted for the Federal Ministry of Agriculture and Rural Development, whereas the imports of agricultural goods into Nigeria during the same period were estimated […]