Nigerian farmers are having difficulty selling vegetables to the
high end market, as foreign-owned supermarkets such as Shoprite, import green
pepper, carrots and tomatoes from their countries of origin, ignoring the
Federal Government’s Agricultural Transformation Agenda (ATA) which aims to
generate employment and grow wealth for farmers.
Industry watchers say this is a hindrance to the ATA of the government
which is being passionately driven by the minister for agriculture, Akinwunmi
Adesina. Currently, South African retailers, such as Shoprite and Spar
lead the grocery business in the country which also include Park and Shop and
Goodies with their malls sprouting fast across the country.
Ironically, much of the imported consumables are in-organically grown,
with the potential for medically challenging illnesses such as obesity and
cancer, which are quite rampant in countries that are largely dependent on
‘chemical food.’
Dare Ogunbanjo, an exotic and local vegetables producer said his firm
approached a major South African-owned supermarket, to supply vegetables and
their response was cold.
“They prefer to bring vegetables from outside the country. It is cheaper
because the enabling environment of these countries is better than that of
Nigeria. And it is because they want to make mega profit,” Ogunbanjo told
BusinessDay.
“What we produce here is fresher and more nutritious because it is
organically grown, and therefore healthy. In those countries, vegetables such
as tomatoes are synthetically produced with fertilisers in greenhouses in about
three weeks, half the time it should be grown. So these vegetables are very
cheap. But even in these countries, organically grown vegetables cost about 10
times more than the synthetically grown ones
Russia’s Foreign Ministry warned Nigeria on Thursday, of potential
damage to bilateral relations and urged action against a court decision that
stripped the world’s largest aluminium producer, Russia’s Rusal, of its core
African asset.
Nigeria’s supreme court ordered last week that Rusal, which owns 85
percent of the formerly state-run Aluminium Smelter Company of Nigeria
(ALSCON), should cede its ownership, because the assets should have gone to
another bidder, U.S. based BFI Group, when ALSCON was privatised five years
ago.
Rusal said the ruling was against Nigeria’s Bureau of Public Enterprises
(BPE), which handled the privatisation and gave Rusal the green light to acquire
the stake for $205 million in 2007. The decision would thus not affect its
ownership of ALSCON, the company said.
“The ruling could ... to a significant extent undermine Russian-Nigerian
investment and economic cooperation and incur negative consequences for the
whole scope of bilateral ties,” the ministry said in a statement on its website
www.mid.ru.
“We urge the Nigerian government to take the necessary actions in order
to prevent potential damage to the existing fruitful and mutually beneficial relations,”
the statement said.
Index
Summary
|
|||
BusinessDay
Afrinvest-30 Index
|
|||
12-Jul-12
|
11-Jul-12
|
change
|
|
Index
Points
|
1,128.42
|
1,124.46
|
0.35%
|
P/E
|
12.2x
|
12.0x
|
|
P/BV
|
1.9x
|
1.9x
|
|
Dividend Yield(%)
|
4.3
|
4.4
|
|
BA-30
|
NSE
ASI
|
||
YTD change
|
13.94%
|
8.50%
|
|
No comments:
Post a Comment