Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Sunday, August 23
    Facebook X (Twitter) Instagram Pinterest Vimeo
    Invest Insider News
    • Home
    • Bitcoin
    • Commodities
    • Finance
    • Investing
    • Property
    • Stock Market
    • Utilities
    Invest Insider News
    Home»Commodities»Nigeria Risks $3bn Yearly Loss Over Failure To Meet EU Deforestation Rules
    Commodities

    Nigeria Risks $3bn Yearly Loss Over Failure To Meet EU Deforestation Rules

    November 26, 20253 Mins Read


    Nigeria could lose over $1 billion in direct agricultural export earnings and more than $3 billion in total economic value each year if it does not align with the European Union Deforestation Regulation (EUDR).

    A new federal government white paper launched in Abuja on Wednesday has revealed.

    Under the EUDR rules, commodities entering the EU must be traceable to their exact farm boundaries, legally produced and verifiably free of deforestation.

    However, the Ministry of Agriculture and Food Security has launched a national strategy and signed a Memorandum of Understanding (MoU) with the National Space Research and Development Agency (NASRDA) to guide the country’s compliance framework.

    Minister of Agriculture and Food Security, Abubakar Kyari, at the signing ceremony, said the scale of potential loss required coordinated national action to safeguard farmers, exports and the wider economy.

    The minister said the country is entering a period where data, science and transparent production systems will determine access to global markets.

    Kyari noted that compliance should not be viewed solely as a challenge but as an opportunity to modernise agricultural value chains, unlock premium export markets and raise farmer incomes.

    He stressed that all tools and platforms developed under the strategy must remain accessible and affordable to smallholders, who form the backbone of Nigeria’s agricultural economy.

    The minister added that the national strategy was crafted through extensive collaboration involving government institutions, commodity associations, private stakeholders and development partners.

    The framework, he said, was designed to secure Nigeria’s place in global supply chains at a time when environmental standards are becoming central to trade competitiveness.

    Under the new partnership, NASRDA will supply satellite imagery, real-time monitoring and technical support, while the ministry will coordinate farmer engagement and policy integration.

    A joint steering committee and a national responsibility matrix will guide the rollout, ensuring that farmer registrations, polygon mapping and transaction records feed into a single national database as the only structure the EU will recognise for assessing Nigeria’s risk status.

    “Today’s event is both strategic and symbolic. It is strategic because it equips Nigeria with the systems required to remain competitive in global markets and it is symbolic because it represents our collective resolve to protect our farmers, modernise our value chains and build an agricultural sector that stands strong on the global stage,” he said.

    The minister recalls that President Bola Tinubu made it clear that agriculture was central to the national strategy for economic renewal, stability and inclusive growth.

    “Our commodities must now be traceable to the exact farm boundary, legally produced and verifiably deforestation free.

    “We cannot allow this level of exposure to place our farmers or our national economy at a disadvantage and we will not allow global regulations to undermine Nigerian livelihoods or leave any farmer behind,” Kyari said.



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleIs Bitcoin Price at Risk of Crash as Treasury Companies Plan Fire Sale?
    Next Article London close: Stocks rise as investors mull long-awaited Budget

    Related Posts

    Commodities

    Indonesia’s Prabowo Subianto retreats on commodities reform amid market pressure

    August 13, 2026
    Commodities

    The Commodities Feed: Oil drops amid renewed peace deal hopes | articles

    August 3, 2026
    Commodities

    Scottish commodities firm becomes listing on Dublin’s ‘springboard’ stock market – The Irish Times

    July 31, 2026
    Leave A Reply Cancel Reply

    Top Posts

    How is the UK Commercial Property Market Performing?

    December 31, 2000

    How much are they in different states across the US?

    December 31, 2000

    A Guide To Becoming A Property Developer

    December 31, 2000
    Stay In Touch
    • Facebook
    • YouTube
    • TikTok
    • WhatsApp
    • Twitter
    • Instagram
    Latest Reviews
    Finance

    Former Microsoft execs launch AI agents to end Excel-led finance

    September 29, 2025
    Finance

    The car finance scandal payouts: what does ruling mean and how much compensation could you get? – The Guardian

    October 8, 2025
    Finance

    Ce que l’on sait du projet financé par Oman

    June 25, 2025
    What's Hot

    World stocks slip on report US might tighten technology curbs on China – WBOY.com

    July 17, 2024

    Stock Market Updates: Sensex Rises Over 350 Points, Nifty Above 26,250; FMCG Stocks Drag | Markets News

    January 1, 2026

    Brithomes, London Square to host UK Property Investment Showcase in Lagos

    November 18, 2025
    Most Popular

    Discourse on Bitcoin as an Option for Indonesia’s National Reserve Assets Draws Public Attention

    August 10, 2025

    Finance expert warns making this mistake could break the law

    January 22, 2026

    Stock market today: Dow, S&P 500, Nasdaq rise as Oracle, Nvidia lead AI trade resurgence – Yahoo Finance UK

    December 19, 2025
    Editor's Picks

    Trump courts crypto industry votes and campaign donations

    July 28, 2024

    Bitcoin Soars to $67,300, Michael Saylor Reacts

    July 20, 2024

    le prix monte en flèche en quelques heures

    January 19, 2025
    Facebook X (Twitter) Instagram Pinterest Vimeo
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions
    © 2026 Invest Insider News

    Type above and press Enter to search. Press Esc to cancel.