Tuesday, March 19,
2019 6:09 PM /by FDC
Today Nigeria produces 0.11% of global steel (less than two million
metric tonnes) but imports 5 million tonnes annually. European history confirms
that the industrial revolution was based on the discovery and use of coal, iron
The Franco-Prussian war that determined the unification of Germany in
1870 was a struggle for Iron and Steel in Alsace and Lorraine. Therefore
Nigeria’s industrial leap into the 21st century was dependent on
Ajaokuta and Delta Steel and numerous rolling mills. Nigeria has failed
woefully as an industrial nation and in the production of Iron and steel while
its auto industry languishes today.
Efforts to revive the Nigerian steel industry are already under way.
However, competing against increasingly low cost steel imports from China is
the biggest threat confronting every potential investor.
The slides below address these and other issues in the domestic and
global commodities market.
Production in Nigeria: A Revenue Opportunity Despite A Growing Health
2. Cocoa Prices Up
By 0.82% Despite Forecasts of Robust Global Cocoa Production
3. Expectations of
Bumper Harvest in Top Cocoa Exporting Countries to Weigh on Prices in the Near
4. Nigeria’s Annual
Lettuce Output Less Than 200,000 Tonnes
5. Should Nigeria
Ban The Importation of Tomato Paste?
6. Wheat Prices
Down Due To Robust Supplies From Ukraine And South America
7. Wheat Prices
Down Due To Lower Global Demand
Weather Conditions In Brazil Expected To Drive Sugar Prices Up In The Near Term
Market Outlook - Commodity Traders Expect The Bullish Trend In Grains Market To
10. Higher Demand
For US Wheat Output Is Expected To Push Up Prices
11. Increased Corn
Supply From Leading Producers Would Depress Prices
12. FGN Announced
Plan to Prohibit the Importation of Tomato Paste into Nigeria
13. IOSCO Practices
Aim To Create Robust Framework For Commodities’ Storage And Delivery