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Market Indices Grow By 0.54% As Buhari Signs Budget

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Activities on the Nige
rian Stock Exchange (NSE) on Friday reacted positively to 2016 Budget signing by President Muhammadu Buhari with the market indices growing by 0.54 per cent after declining for two consecutive days.
The Tide source reports that the All-Share Index improved by 137.81 points or 0.54 per cent to close at 25,701.60 against 25,563.79 achieved on Thursday.
Similarly, the market capitalisation rose by N47 billion, closing at N8.84 trillion compared with N8.79 trillion recorded on Thursday.
Managing Director, APT Securities and Funds Ltd., Mallam Garba Kurfi,  attributed the growth to investors reaction to the signing of the budget.
Kurfi said that signing of the budget had ended the impasse between the presidency and the lawmakers for over four weeks, adding that the uncertainty surrounding the budget had ended with the signing.
A breakdown of the price movement chart indicated that Forte Oil led the gainers’ chart, growing by N20.44 to close at N219.92 per share.
Mobil Nigeria followed with a gain of N7.29 to close at N155.09, while Flour Mills Nigeria gained N1.83 to close at N22.34 per share.
Guinness appreciated by N1 to close at N95, while Cadbury increased by 78k to close at N16.46 per share.
On the other hand, PZ topped the losers’ chart, dropping 68k to close at N20.62 per share.
Nigerian Breweries trailed with a loss of 24k to close at N115.08, while Ecobank Transnational Incorporated lost 20k to close at N14.50 per share.
Dangote Sugar Refinery shed 11k to close at N5.79 and Portland Paint also declined by 11k to close at N2.17 per share.
FBN Holdings remained the most active, accounting for 30.73 million shares worth N107.99 million.
Transcorp followed with an exchange of 20.07 million shares valued at N20.66 million, while Zenith Bank sold 14.22 million shares worth N185.69 million.
Guaranty Trust Bank traded 11.19 million shares valued at N194.04 million and Access Bank traded 9.69 million shares worth N40.61 million.
In all, investors traded a total of 181.11 million shares valued at N1.17 billion as against 178.87 million shares worth N1.48 billion exchanged on Thursday.

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USTR Criticises Nigeria’s Import Ban On Agriculture, Others

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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.

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Expert Seeks Cooperative-Driven Investments In Agriculture 

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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.

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NACCIMA Proposes Hybrid Oil Palm Seedlings For Farmers

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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.

King Onunwor

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