Yam prices increased by 33% in June amidst export

Yam prices increased by 33% in June amidst export – NBS

The National Bureau of Statistics (NBS) recently said that the price of yam increased in June, amid flag-off of export of the foodstuff to Europe by the Federal Government. Data released by the bureau for June 2017, tagged ‘Selected Food Price Watch’ revealed that the average price of 1 kilogramme of yam tuber increased by 32.84 per cent between June 2016 and June 2017.

Similarly, there was a 4.62 per cent increase in the price of the product between May and June, as the price of 1 kilogramme of yam jumped to N292.06 from N279.15 in May.

The development came after the Federal Government began to export yams to Europe and the United States, as part of moves to diversify its oil-dependent economy and earn much-needed foreign exchange.

Agriculture minister, Audu Ogbeh, who flagged off the first consignment of the fibrous tuber from Tincan Island Ports, Lagos in June, said, “Oil and gas cannot employ millions of people just like agriculture so we must work hard to move from oil to earning foreign exchange from agriculture.”

“To make yam competitive, we will work on the packages and the right types of trucks to be used for transportation of the produce,” he had added.

Nigeria accounts for 61 per cent of the world’s total yam output, according to the UN Food and Agricultural Organisation, and Mr. Ogbeh said not all of it was consumed, leading to waste.

But many Nigerians had expressed fears about the policy, saying it could hit consumers in the pocket, especially in the midst of food shortages in conflicthit parts of the northeast and food inflation pegged around 20 per cent.

Meanwhile NBS had disclosed on Monday that inflation rate dropped to 16.10 per cent in June from the 16.25 per cent recorded in May. But despite the drop, prices of foodstuffs including yam, tomato, and others remained high.
Further analysis of the NBS report showed that the average price of 1 kilogramme of tomato increased by 9.74 per cent between June 2016 and 2017 and by 10.39 per cent between May and June, 2017 – as prices sky rocked to N375.00 from N339.72.

The average price of 1 kilogramme of imported high quality rice increased by 23.56 per cent between June 2016 and 2017; and by 1.29 per cent between May and June, 2017.

Also, the average price of 1 dozen of agric eggs medium size increased 35.42 per cent between June 2016 and 2017; and decreased by 1.54 per cent to N514.66 in June 2017 from N522.71 in May 2017.

Comments

Understanding Prof. Yemi Osinbajo - Abraham Ogbodo

Abraham Ogbodo I am trying to understand Prof. Yemi Osinbajo, the Vice President of the Federal Republic of Nigeria. Often, he speaks out of character. That is, he talks as if he is Vice President before he is a professor of law, even when I know that the latter comes first. The man wasn’t like this when he was the attorney general of Lagos State and a teacher at the Law Faculty of the University of Lagos. Then, his statements were measured and as a seasoned lawyer, based on facts. But today, Osinbajo is sounding like Adams Oshiomhole, a union leader, who by the grace of God, became governor of Edo State for eight years. The revelations about big thefts in the economy had come more from Adams than even Ibrahim Magu, chairman of the EFCC. It was Adams who said former petroleum minister; Mrs. Diezani Allison-Madueke alone stole 13 billion British pounds from the national treasury. That is like saying she stole in raw cash almost twice as much as the entire fortune of Alhaj...

Boko Haram’s campaign against education and enlightenment - By Landry Signe

Nelson Mandela once said, “Education is the most powerful weapon which you can use to change the world.” Boko Haram, the Islamist terrorist group originating from Nigeria is frightened by this enlightening power of education. Unsurprisingly, on Monday, February 19, the group, whose name often translates to “Western education is a sin,” stormed a girls’ school in the village of Dapchi in northern Nigeria to abduct students. Of the 907 schoolgirls who were in the school the day of the attack, more than 100 are still missing as of Sunday. Since it became violent about a decade ago, Boko Haram’s actions, through these and other types of bloody attacks, have resulted in horrifying consequences. Human Rights Watch estimates that Boko Haram has left at least 7 million in need of humanitarian assistance, 2.1 million displaced, and 20,000 civilians dead. Local leaders claim the number is significantly higher. Despite such causalities, it took Boko Haram’s massive kidnapping of 276 sch...

FG borrows N3.38bn To Aid Potato Production in Plateau

The Federal Executive Council (FEC) wednesday approved N3.38 billion to boost the production of potatoes in Plateau State. The Minister of Finance, Mrs. Kemi Adeosun, who made the disclosure said the money would be borrowed from Agricultural Development Bank (ADB) with one per cent interest rate and 25 years moratorium. The minister who said the loan was not fresh, explained that it had previously been cancelled by the federal government with the intention to make a fresh request for the loan on behalf of Plateau State which she said was responsible for 95 per cent of potato production in the country. According to her, following ADB’s comprehensive programme on potato production in Plateau State, 100,000 families and 17 local government areas of Plateau State would benefit from the loan while 60,000 jobs would be created by the initiative. “My approval was on behalf of Plateau State to support the potato value chain. There is a loan that we had previously cancelled from ...

ATTENCAO

Search This Blog