RELIEF! Tomato Price Crashes

The breeze of “pleasant relief” may be felt by Nigerian as the price of Tomato crashes from N25, 000 to N800 per basket in Kaduna.

It will recalled that Tomato price increased and became scarce across the country as a result of tuta absoluta, also known as ‘tomatoc ebola’.

This affected the crop in most parts of the north-west, notably Kaduna, Jigawa, Katsina and Kano states.

Speaking with an online source, chairman of the tomato sellers, Abass Mai Tumatur, it was a “pleasant relief” for everyone as tomato is now available and in large quantities.

He stated that “Things are getting better. Tomato scarcity is nothing new, but it was made worse this year by the invasion of the moth.

“The rains coupled with the efforts of government have helped tremendously in making tomato available,” he said, praising the government for the “timely intervention”.

He assured the public that the fear is gone now “and hopefully for good”.

Farmers were left stranded and helpless as the moth ravaged their farms and left destruction across the farming community, making a pot of soup as expensive as gold.

Nasir el-Rufai, the Kaduna state governor, declared a state of emergency and dispatched officials to Kenya to find ways of tackling the ravaging insects.

The cost of the destruction in the state, according to el-Rufai, was close to N1 billion.

Audu Ogbeh, minister of agriculture and rural development, also commissioned experts to find solutions to the disease outbreak “as soon as possible”.

Join our BBM channel for instant updates : C0030863D

Comments

BOOM: Nigeria’s External Reserves Drops To Lowest In 11 Years

Nigeria’s foreign exchange reserve fell to $25,780,765,483 (25.78 billion) as of August 16, the lowest we have seen since 2005. The drop was down 2.11% from a month ago. The Nations external reserves dropped below $26 billion for the first time on the 5th of August 2016 after it closed at about $25,971,610,949. In fact, the external reserves has dropped by about $480 million dollars in August alone compared to just $100 million in the whole of July. Ironically, the current balance of $25.9 billion is worth about 80% more than what it was in Naira following the depreciation of the naira after it was floated. The CBN has in the past few days ramped up sales of dollars at the interbank in the hope that it will create liquidity in a market that is yawning gape to swallow forex after nearly almost two years of intense rationing by the CBN. The Naira weakened to its lowest ever at the interbank after it closed at about N362.5/$1 in midday trading. The Naira will eventua...

Why Entrepreneurs Should Engage Their Spouses in the Business

When her husband first joined a startup, a woman I’ll call Cindy had saved up a comfortable nest egg for her family. Even with several young children, their financial situation was stable enough that their personal risk in the venture seemed minimal. But a year later, when the seed funding dried out and no substantial revenue was forthcoming, things went downhill for them. Her husband stopped receiving a salary, yet continued working and traveling extensively for the company. Cindy had to care for their children, including two toddlers and two autistic preteens, mostly on her own. She begged her husband to find another job, but he didn’t want to leave a business that he had already invested so much in. She offered to go back to work and have him watch the kids; he refused. Within two years, their financial reserves and their children’s college funds had disappeared entirely. Their home was eventually foreclosed on, and the family had to move in with a relative. Onl...

Emefiele gives insight, on what to Expect during his second term

The newly re-appointed Governor of the Central Bank of Nigeria, Godwin Emefiele, over the weekend enumerated the things intends to accomplish during his second term in office. Emefiele enumerated his plans while speaking to journalists at the University of Nigeria Nsukka (UNN), on the sidelines of the institution’s Special Convocation which took place on Friday. The CBN Governor gave delivered a lecture at the event. Driving down inflation: According to Emefiele, he intends to focus on policies that would drive down the country’s inflation rate, improve price stability, and drive economic growth. Emefiele’s Stern Warning: The CBN Governor further disclosed that he plans to work with his team to drive down imports and encourage exports. He also used the occasion to issue a stern warning to those who meddle with policies aimed at achieving economic stability, telling them that they will be caught and punished by law. Mr Emefiele’s second term plans came just a few days after ...

The Finance Dude

Search This Blog