Business
Stock Index Futures Open Higher At Wall
Stock index futures pointed to a higher open on Wall Street yesterday with futures for the S&P 500, the Dow Jones and the Nasdaq 100 rising 0.2 to 0.4 percent.
ICSC/Goldman Sachs release chain store sales for the week ended March 23 at 1145 GMT. In the previous week, sales rose 1.4 percent.
U.S. investment firm KKR & Co LP (KKR.N) will sell Japanese temporary staffing agency Intelligence Holdings to a domestic peer, Temp Holdings (2181.T), for 68 billion yen ($721 million) after almost doubling the value of the company.
The Commerce Department releases February durable goods orders at 1230 GMT. Economists expect a 3.8 percent rise in February orders, compared with a 4.9 percent drop in January.
The U.S. Department of Transportation has fined Exxon Mobil Corp (XOM.N) $1.7 million over pipeline safety violations relating to a 2011 oil spill in the Yellowstone River, regulators have said.
Redbook releases its Retail Sales Index of department and chain store sales for March at 1255 GMT. In the prior period, sales rose 0.7 percent.
Standard & Poor’s releases its S&P Case/Shiller Home Price Index for January at 1300 GMT. Economists expect a 0.9 percent rise in the 20 city index, a repeat of the December increase.
The Commerce Department releases new home sales for February at 1400 GMT. Economists in a Reuters survey forecast a total of 420,000 annualized units, compared with 437,000 in January.
The Conference Board releases March consumer confidence data at 1400 GMT. Economists expect a reading of 68.0, compared with 69.6 in February.
Federal Reserve Bank of Richmond releases March indexes on area manufacturing and service sectors at 1400 GMT. In February, the composite manufacturing index was 6, the manufacturing shipments index read 10, and the services revenue index was 11.
European shares steadied on Tuesday, with some investors using the previous sessions’ steep sell-off to buy back into the market, but uncertainties about the broader implications of the Cyprus bailout kept a lid on any gains.
Banks in Cyprus will remain closed until Thursday, and will then be subject to capital controls to prevent a run on deposits. President Nicos Anastasiades said late on Monday the 10 billion euro ($13 billion) rescue plan was “painful” but essential to avoid economic meltdown.
Business
USTR Criticises Nigeria’s Import Ban On Agriculture, Others
The United States Trade Representative (USTR) has criticised Nigeria’s import ban on 25 categories of goods, claiming that the restrictions limit market access for American exporters.
This is the effect of President Donald Trump’s tariffs introduction on goods entering the United States, with Nigeria facing a 14 per cent duty.
The USTR highlighted the impact of Nigeria’s import ban on various sectors, particularly agriculture, pharmaceuticals, beverages, and consumer goods.
The restrictions affect items such as beef, pork, poultry, fruit juices, medicaments, and alcoholic beverages, which the United States sees as significant barriers to trade.
The agency argues that these limitations reduce export opportunities for United States businesses and lead to lost revenue.
“Nigeria’s import ban on 25 different product categories impacts United States exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
“Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit United States market access and reduce export opportunities.
“These policies create significant trade barriers that lead to lost revenue for United States businesses looking to expand in the Nigerian market”, the agency said .
In 2016, Nigeria implemented the ban on these 25 items as part of efforts to control imports and stimulate local production.
Some of the banned items include poultry, pork, refined vegetable oil, sugar, cocoa products, spaghetti, beer, and certain medicines.
On March 26, 2025, the Federal Government also announced plans to halt solar panel imports to encourage local manufacturing as part of its push for clean energy.
Business
Expert Seeks Cooperative-Driven Investments In Agriculture
A leading agribusiness strategist and digital agriculture expert, Ayo Oluwa Okediji, has sought cooperative-driven investments in sustaining growth of poultry industry in Nigeria.
He said the poultry industry was at a defining moment and requires urgent structural reforms to secure its future and ensure long-term sustainability.
Speaking on the theme, “Strengthening Poultry Farming Through Cooperative Synergy and Strategic Investments”, at the recently concluded Oyo Mega Poultry Workshop 2025 in Ibadan, Okediji called on poultry farmers, cooperative leaders, financial institutions and policy makers to rethink the existing structure of the poultry sector.
He stressed the need to transition from fragmented, individually-driven operations to well-structured, cooperative-led enterprises capable of attracting sustainable financing and securing long-term viability.
He said, “Our poultry sector cannot thrive on individual effort alone. We need to organise ourselves into cooperative clusters, build strong governance systems and position ourselves to attract the level of investment needed to sustain this industry beyond this generation.”
Drawing on lessons from successful global cooperative models such as Rabobank in the Netherlands and Landus Cooperative in the United States, Okediji introduced the FarmClusters Poultry Model, a locally adapted solution developed by Agribusiness Dynamics Technology Limited (AgDyna), a subsidiary of AgroInfoTech Africa.
According to him, the model is currently being piloted in Oyo State in partnership with PANOY Agribusiness Limited and local poultry cooperatives.
Business
NACCIMA Proposes Hybrid Oil Palm Seedlings For Farmers
The Rivers State Representative of the Nigeria Chambers of Commerce, Mines, Industries and Agriculture (NACCIMA), Mr. Erasmus Chukwundah, has urged palm oil farmers to consider hybrid seedlings for planting, if they must break even in palm oil business.
Chukwundah said this recently at the Free Oil Palm Business Climate Smart Best Management Practice/Assistance Training organized by Partnership Initiative In Niger Delta (PIND) for Palm Oil Farmers in Elele, Ikwerre Local Government Area.
The Rivers representative said until palm oil farmers begin to consider such hybrid oil palm seedlings, they may not meet up with the daily increasing demand of palm oil in the market.
According to him, the seedlings produce up to 30 bunches at once that ripen same time.
He said PIND decided to partner with Oil Palm Growers Association of Nigeria (OPGAN) to ensure that the message was received by the targeted audience.
According to him, palm oil remained a popular choice of industry operators as it could be converted to many other products such as vegetable cooking oil.
He also noted that products such as motor tyers, marine ropes and others are now gotten from the palm tree.
Chukwundah, who is the immediate past Director-General of Port Harcourt Chamber of Commerce, Mines, Industries, and Agriculture (PHCCIMA), further warned against use of unrecommended fertilisers in growing oil palms.
He noted that such practices could limit its export value or chances as the foreign marketers have a way of detecting such .
He reiterated the need for organic fertilizers, including poultry droppings, to enable them have a natural palm oil.
“People must reduce physical contact with palm oil production. That is why we are campaigning for hydrolic oil mills. The foreign markets are no longer interested in crude method of palm oil production”, he said.
Meanwhile, one of the farmers, Sonny Didia, who appreciated Chukwundah’s commitment towards the concern of farmers, appealed for an urgent need for loan opportunity with low interest rate in order to enable them beat the target.
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