<< Back             Poser >> India turns to Nigeria, other African countries for Soybeans By Cynthia Alo, with Agency report India has turned to Nigeria and other African countries for soybean imports after soaring domestic prices forced Indian traders to cancel soymeal export contracts for the first time since 2021. According to a Reuters report, Indian traders cancelled about 25,000 metric tons of soymeal export contracts and secured about 80,000 metric tons of soybean imports from African countries following a sharp rise in local prices. The development is expected to create export opportunities for Nigeria and other African countries producing non-genetically modified, non-GM soybeans, which India permits for import. Reuters reported that India’s soybean purchases are allowing African exporters to sell the commodity at a premium above global benchmark prices. Founder of agricultural goods exporter Suraj Impex, Vinod Jain, said India was no longer receiving fresh soymeal export orders because of elevated prices. Reuters quoted Jain as saying that the situation had prompted traders to increase soybean imports from African countries. He projected that India’s soybean imports could rise to a record 800,000 metric tons by September 2026, compared to just about 2,000 metric tons imported in the previous year, according to data compiled by the Soybean Processors Association of India. India only permits imports of non-GM soybeans, limiting sourcing options to a few African countries including Nigeria, Benin, Niger and Togo. Vanguard Business News	Nigeria targets green industrialisation with critical minerals roadmap By Yinka Kolawole Nigeria is positioning its vast critical mineral deposits as the foundation for a new wave of industrial growth, following the unveiling of a strategic roadmap designed to convert the country’s mineral wealth into investments in clean energy manufacturing and domestic value addition. The roadmap, presented by the Council for Critical Minerals Development in […] EVs: Afreximbank wants Nigeria, other African countries to stop exporting Lithium By Emma Ujah President and Chairman of the Board of the African Export-Import Bank (Afreximbank), Dr. George Elombi, has tasked African nations to stop the export of Lithium, the main raw material used in the production of electric vehicle (EV) batteries. Nigeria is a major exporter of Lithium in Africa, though most of the quantity is […] Trade between Ghana and Canada rises 56% to $752m in 2025 Bilateral merchandise and services trade between Ghana and Canada expanded by 56 per cent year-on-year to $752 million in 2025, signalling a structural shift from aid-based engagement to a more trade and investment-led partnership. FG omitted N8.8trn spending worth 2% of GDP from recent budgets — IMF By Yinka Kolawole, with agency report The International Monetary Fund (IMF) has disclosed that the Federal Government (FG) failed to capture public expenditure equivalent to about two per cent of Nigeria’s Gross Domestic Product (GDP) in recent national budgets, creating a mismatch between the country’s reported fiscal deficit and its actual financing needs. IMF’s Resident Representative […] NSC protects N90.6bn, $1.348m for Nigerian shippers By Efe Onodjae The Executive Secretary and Chief Executive Officer of the Nigerian Shippers’ Council (NSC), Dr. Akutah Pius, says the Council protects over N90.60 billion and $1.348 million in economic value for Nigerian shippers through regulatory interventions and dispute resolution. Speaking through a representative at a media engagement with maritime editors and reporters in Lagos, […] FG increases domestic borrowing by 241% By Elizabeth Adegbesan  As part of the Federal Government (FG) borrowing plan for the 2026 budget, the Central Bank of Nigeria, CBN, has issued Treasury Bills, TBs, to raise N5.8 trillion in the third quarter of 2026 (Q3’26). This represents a 241 percent year-on-year (YoY) increase when compared to N1.76 trillion sold in Q3’25. CBN disclosed […]