Skip to main content

FG BANS DIRECT FARMERS FOREIGNERS TRADE

 

FG bans direct farmers, foreigners trade, demands agents

Adeniyi Adebayo

Minister of Industry, Trade and Investment, Adeniyi Adebayo

    

The Federal Government on Wednesday in Abuja banned any direct purchase of farm produce involving indigenous farmers and foreign nationals.

The new regulation which is to ensure that Nigerian farmers are not shortchanged now mandates all foreign nationals to go through licensed local buying agents to do business with the farmers.

The Minister of Trade and Investment, Niyi Adebayo, disclosed this to State House correspondents shortly after the weekly virtual Federal Executive Council meeting presided over by Vice President Yemi Osinbajo at the council chambers of the Presidential Villa, Abuja.

According to him, the Federal Government has okayed appropriate mechanisms to ensure competitive prices for commodities of indigenous farmers in a bid to protect them from exploitation and also ensure that they have the appropriate incentives to guarantee their continued participation in their trade.

Adebayo said he presented two memos on behalf of his ministry; one of which was for the promotion of agribusiness in Nigeria through the right farm gate pricing and ban on foreign nationals and their representatives from purchasing agricultural commodities at the farm gates.

He said, “We finally got approval from FEC today for only licensed local buying agents who must be registered by the relevant national commodity associations, they are the ones who now will be able to buy goods directly from the farmers and sell to the foreigners. This way, the farmers will no longer be cheated by these foreigners who just throw money at them and can buy their goods.”

The minister also disclosed that he presented another memo to FEC for the approval of the Trade Policy Action Plan themed “Unleashing Nigeria’s Development Potentials through Trade and Investment.”

Comments

Popular posts from this blog

$100 MILLION STOLEN BY HACKERS IN CRYPTO HEIST

  Hackers steal nearly $100m in Japan crypto heist IMAGE SOURCE, Liquid has been hit by hackers, with almost $100m (£73m) estimated to have been stolen. Leading Japanese cryptocurrency exchange Liquid has been hit by hackers, with almost $100m (£73m) estimated to have been stolen.  The company announced that some of its digital currency wallets have been "compromised." It is the second major theft of cryptocurrencies to take place in recent days.                 Last week, digital token platform Poly Network was at the centre of a $600m heist. "WE ARE SORRY TO ANNOUNCE THAT #LIQUIDGLOBAL WARM WALLETS WERE COMPROMISED, WE ARE MOVING ASSETS INTO THE COLD WALLET," THE COMPANY SAID ON TWITTER. So-called 'warm' or 'hot' digital wallets are usually based online and designed to allow users to access their cryptocurrencies more easily, while 'cold' wallets are offline and harder to access and therefore usually more secure.                            

ACTRESS SENTENCED TO SIX MONTHS IN ISLAMIC SCHOOL

    Sharia Court Sentences Kannywood Actress To Six Months In Islamic School The actress, Sadiya Haruna was handed the sentence on charges of “indecent social media postings.” Credit: Instagram | Sadiya Haruna The actress, Haruna, a resident of Kabuga Quarters was initially arrested on Friday by the Head of Surveillance Department of Kano State Hisbah Board, Malam Aliyu Usman. She was then detained in the custody of the Islamic police until early Monday when she was brought before the Sharia court sitting in Sharada area of the state. According to the First Information Report (FIR) filed against her, she was alleged to have consistently posted indecent videos in which she was dancing seductively and making sexual comments on her social media handles and YouTube channel. The accused person pleaded guilty to a one-count charge of obscenity and indecent act, which contradicts section 355 of Penal Code Law 2000. The presiding judge, Justice Ali Jibril Danzaki thereafter convicted her a

Countries Accepting Nigerians Seeking Second Citizenship

  Countries Accepting Nigerians Seeking Second Citizenship Nigerians are able to access the following citizenship and immigration programs: The Caribbean Second Citizenship Programs, Caribbean nations like St. Kitts & Nevis, St. Lucia and Grenada offer second citizenship through their respective Citizenship-by-Investment programs. A holder of one of these passports may travel visa free to about 135 countries, including all European Union countries, the UK, Russia, Turkey, Singapore and Hong Kong. Holding a citizenship from one of these respected countries may also make it easier to obtain residency status or study in other countries, and allows political security and makes it easier to open bank accounts in foreign jurisdictions. To qualify, an applicant needs to be of good reputation and make a government donation of at least $100,000 USD after approval of their citizenship application.  Approval of a Citizenship-by-Investment application normally takes about 3 months, and all de