Close Menu
Invest Insider News
    Facebook X (Twitter) Instagram
    Monday, April 6
    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 $4bn Yearly Loss Over Failure To Meet EU Deforestation Rules – Report
    Commodities

    Nigeria Risks $4bn Yearly Loss Over Failure To Meet EU Deforestation Rules – Report

    November 27, 20253 Mins Read


    A new federal government white paper launched in Abuja yesterday indicates that 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).

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

    However, the Ministry of Agriculture and Food Security, yesterday 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.

    The 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 broader economy.

    The minister said the country is entering a period in which 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.

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

    The framework, he said, is 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, which will be 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 President Bola Ahmed Tinubu, has made it clear that agriculture is central to the country’s 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”, the minister said.

    He added, “According to the white paper we are launching today, Nigeria faces the risk of losing over one billion dollars in direct export earnings and more than three billion dollars in total economic value each year if we fail to adapt.

    “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.”

     

     



    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleINTERVIEW: FLEX Commodities Adds Walvis Bay Physical Supply Joint Venture
    Next Article Nifty Up 0.17%, HDFC Bank Shares in Focus

    Related Posts

    Commodities

    Rare earth: the commodities powering our AI future | Global X: Invest in innovation

    April 1, 2026
    Commodities

    Commodities as a Portfolio Hedge: A Beginner’s Guide

    March 25, 2026
    Commodities

    Why The Next Billion-Dollar Startup Will Be Built Around Commodities

    March 23, 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

    vous avez un rêve pour votre quartier, la municipalité finance !

    February 9, 2025
    Finance

    Équiterre presse les gouvernements d’agir pour mettre fin au gaspillage d’invendus

    July 14, 2025
    Bitcoin

    Bitcoin Price Rises to $93,000 Amid Growing Market Confidence

    January 5, 2026
    What's Hot

    Press Release | Finance and foreign ministers call for remaking the international financial system in the interest of developing countries

    July 26, 2024

    Voici le calendrier qu’un expert pense que Bitcoin atteindra 175 000 $

    June 2, 2025

    Bitcoin Swift to Launch BTC3 Stablecoin and Integrate AI in DeFi

    August 7, 2025
    Most Popular

    Casablanca Finance City rejoint l’Initiative financière du Programme des Nations Unies pour l’Environnement

    May 7, 2025

    China’s property market faces uncertain future despite historic rate cuts

    May 11, 2025

    PBS News launches ‘Settle In’ podcast with lessons from the 1929 stock market crash

    November 28, 2025
    Editor's Picks

    Hindustan Copper shares rally 7%: What’s the big trigger? – Market News

    September 25, 2025

    Bitcoin slips amid Iran de-escalation uncertainty; analyst says BTC has bottomed By Investing.com

    April 2, 2026

    Dow ekes out third straight record, S&P 500, Nasdaq slide with jobs report on deck

    February 10, 2026
    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.