The Nation Newspaper

Tag: Aganga

  • Nigeria made $900m from cocoa export in 2012, says Aganga

    Nigeria made $900m from cocoa export in 2012, says Aganga

    The Minister of Trade and Investment, Olusegun Aganga, has said Nigeria realised about $900m from the export of cocoa and cocoa products in 2012.

    He stated this during the national sensitisation workshop of the project on Sanitary Standards Capacity Building in Africa in Abuja.

    In his address read by the Acting Permanent Secretary, Mr. Olakunle Sogboola, Aganga said cocoa is the second largest foreign exchange earner after crude oil, generating over two million jobs directly and indirectly along its value chain.

    According to him, “The global market for cocoa is very huge, growing at an average of 3% per annum. Nigeria’s cocoa export has equally grown over the years by an average of 40% annually and a cumulative of 280% from $215m in 2006 to $822.8m from the export of cocoa and cocoa products last year.”

    He added: “Nigeria is the world’s fourth largest producer and exporter of cocoa. Paradoxically, over 90% of the cocoa produced is exported. Our domestic consumption of this strategic commodity is barely 3%.”

    Aganga said that the ministry will continue to encourage the development of farmers and commodity associations for proper orientation and education on SPS issues with a view to promoting and strengthening global market access for our agricultural and non oil products.

    The Executive Director of international Cocoa Organisation (ICCO), Dr. Jean Marc Anga, said that users of cocoa products are continuously coming up with more demands on issues such as quality of the beans, traceability and integrity of the beans along the supply, food safety and social ethics.

    Represented by Mr. Abubakar Yunusa, Anga said ICCO will continue to support Nigeria to implement major components of the project that will create awareness among cocoa farmers.

     

  • Nigeria, Indonesia sign pact on airlines, aircraft maintenance

    Nigeria, Indonesia sign pact on airlines, aircraft maintenance

    Nigeria and Indonesia on Sunday signed multi-billion naira long-term agreements on airlines and aircraft maintenance.

    This is coming as the bilateral trade volume between the countries hits $2.2 billion.

    The News Agency of Nigeria reports that the agreement and contracts are between GMF Aeroasia, Indonesia with its Nigerian counterparts, including Kabo Air, Silverback Africa, Hak Air, Max Air and Service Air Limited.

    Other trade agreements were between the Nigerian Chamber of Commerce, Industry, Mines and Agriculture, (NACCIMA) and the Indonesian Chamber of Commerce and Industry.

    The Minister of Trade and Investment, Mr. Olusegun Aganga, in his remarks, said the agreement would strengthen trade and investment relations between the two countries.

    The minister also sought the cooperation of Indonesian in the area of power, infrastructure, agriculture, ICT and banking.

    He said Nigeria, with a population of over 160 million people, was blessed with human, minerals resources and a market advantage because of its strategic location in Africa.

    He said that Nigeria had a strong industrial base and efficient services sector.

    He said the trade volume between the countries was over two billion dollars, adding that the countries would work together to double the trade volume by 2015.

    The Indonesian Minister of Trade, Mr. Gita Wirjawan, promised Indonesia’s readiness to partner with Nigeria in the key sectors of the Nigerian economy.

    Wirjawan stressed the need for the Nigerian Government to move up its value chain, especially in the agricultural sector.

     

  • Aganga tasks Nigeria, South Africa on economic growth

    Aganga tasks Nigeria, South Africa on economic growth

     

    The Minister of Trade and Investment, Mr. Olusegun Aganga, has urged Nigeria and South Africa to take advantage of the window of opportunities available in their economies to strengthen economic growth in the continent.

    Aganga stated this at a dinner organised by the Nigeria Consulate in South Africa and co-hosted by Financial Times and Brand South Africa in Johannesburg on Thursday.

    He emphasised that the two countries must not allow the opportunities to pass without being exploited by them for the benefit of their citizens and for the people in the continent.

    “Nigeria and South Africa have the fastest economic growth in the continent. If Africa must take advantage of the current global economic meltdown to boost growth in the continent, then the two countries need to work together.

    “The two countries have to complement each other in area of comparative advantage. There is no country that can develop its economy without industrialisation, South Africa is the leader in Africa in that area.

    “But Nigeria has the advantage in area of market and raw material over many countries, Nigeria has the largest population in Africa, an investment in Nigeria is a gateway into the ECOWAs with about 300 million population, Nigeria is a market nobody can ignore, “the News Agency of Nigeria quoted Aganga as saying at the gathering.

    He said that Nigeria is no longer interested in investors coming into the country to export raw material out of the country.

    “What we want are investors setting up industry and manufacturing plants in the country, to help provide employment for our youths and ever growing population.

    “Nigeria is discussing with South Africa on ways to collaborate in setting up automobile plants in Nigeria. There are opportunities in mining, not for exportation alone, but for mining of the mineral for processing and production,’’ Aganga said.

    He said that there were untapped potentials in the agricultural sector, saying, “ Nigeria is blessed with 84 million of acre of land, where everything and anything can grow.

    But the agriculture sector of our economy is not fully tapped.

    “We want investors in the agriculture sector not only in the area of planting and harvesting of agriculture product, but also in area of food processing and storage, this is an area where South Africa can come in, because they are well ahead of other Africa countries in food processing and storage.

    “There are also business opportunities in oil and gas, Nigeria is the largest producer of oil and gas in the continent and investment opportunities in that sector is open,” the minister stated.

    He said Nigeria can also learn from South Africa in service and infrastructure development.