Farouk gumel – Importance of Commodity Exchange

Farouk gumel – A Commodity Exchange or Comex is a regulated market allowing the purchase and sale of contracts backed by commodities such as gold, silver, crude oil and so on. Such an exchange serves as the central location for trading the commodities. Some of the major commodity exchanges in the world are Chicago Mercantile

Farouk Gumel – Why is the Indian farmer protest important for Africa’s agricultural policy?

Recently, the media has been reporting about massive farmer protests in India against the implementation of certain agricultural reforms in Nigeria. The protest started on 9th August 2020 and most of the protesting farmers are from India’s two largest agricultural producing states (Punjab and Haryana). It is reported that these States are the largest beneficiaries

Farouk Gumel – The minimum support price in agriculture – what is it important

Farouk Gumel – Most governments intervene in their agricultural markets although the extent of these interventions depend in large part on the wealth of the country. In the last century or so, the most common of these interventions is the Minimum Support Price (MSP) mechanism. In this paper, I hope to explain in simple terms,

Farouk Gumel – Africa’s Agriculture exports and the need for more processing locally

Farouk Gumel – Despite long standing recognition of the benefits of trade and the importance of improving competitiveness, Africa is performing beneath its potential in global and regional agricultural markets. Recent export growth has been offset by even larger growth in imports, caused by a booming population. More than 60 percent of the population of

Farouk Gumel – Nigeria’s Fertiliser Revolution – a story of job creation and higher yields

Farouk Gumel – Agriculture accounts for 70% of the entire workforce in Nigeria and therefore, remains the sector that can massively lift Nigerian’s out of poverty in an inclusive and sustainable way. It is reported that Nigeria has 60 million hectares of arable land which is grossly underutilized. Our yields remain low and post-harvest losses

Farouk Gumel | Pushing Nigeria’s Biggest sector to its limits – Agriculture

Farouk Gumel – Finally, agriculture is taking its rightful place as the sector that will take Nigerians out of poverty and into an era of inclusive and collective prosperity. Although the sector employs millions of Nigerians and accounts for an estimated 20% of the country’s GDP, many still view supporting agriculture as a charitable act

Farouk Gumel – A case for why oil should not be Nigeria’s No.1 Focus

Farouk Gumel – Oil was discovered in Nigeria in the 1950’s and today, Nigeria is the eleventh-largest oil-producer in the world and Africa’s main oil producer. In 1977, the Nigerian National Petroleum Company (NNPC) was founded to participate and regulate the country’s oil sector. Since then, significant progress has been made in terms of increasing

Hunger and Poverty – A way out through inclusive value chain development

In September 2015, the United Nations General Assembly adopted the 2030 Agenda for Sustainable Development that includes 17 Sustainable Development Goals (SDGs).The first two goals were “No poverty and Zero Hunger”. These are problems common to all nations although its severity differs in each nation and region. FAO data shows Africa as the region most

THE NEED FOR “IMPLEMENTABLE” TRADE POLICIES IN AFRICA

In recent years, the importance of rice in Nigeria, and indeed West Africa’s, economy and politics is clear for all to see.  On paper, Africa’s policy is to be self-sufficient on food. However, the implementation has been a different story. While some countries pursue a food self-sufficiency by supporting backward integration, others have been increasing

With an inclusive agricultural policy, Africa can feed itself and create millions of Jobs by Farouk Gumel

Farouk Gumel-In a continent where some 50% of its population are farmers, Africa still imports billions of dollars of food every year to meet its needs. These imports, which are by choice and not out of necessity, have kept the demand for locally produced food items at extremely low levels. As a result, Africa’s rural