<< 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	Dangote Refinery reduces petrol price to N1,250/litre Dangote Refinery has reduced the gantry price of petrol, to N1,250 per litre from N1,275 per litre, representing a two per cent decrease. Over 100 imported vegetable oil brands dominating local market despite ban — Ikoro ….Accuses Customs, NAFDAC, SON of enforcement failure By Cynthia Alo Despite the retention of vegetable oil on the Federal Government’s prohibition list under the 2026 fiscal policy measures, the National Chairman of the Vegetable/Edible Oil Producers Association of Nigeria (VEOPAN), Okey Ikoro, said the local market is still dominated by more than 100 imported oil brands, […] Ghana’s TVET financing system is structurally misaligned – Kofi Asare Mr. Kofi Asare, Executive Director of Africa Education Watch, has described Ghana's Technical and Vocational Education and Training (TVET) financing system as structurally misaligned, warning that chronic underfunding is undermining efforts to equip young people with employable skills. Weak manufacturing base threatens Nigeria’s economy — CPPE By Yinka Kolawole Despite Nigeria’s  modest economic growth in the first quarter of 2026, experts have raised concerns over the weak performance of the manufacturing sector, warning that the economy may struggle to achieve sustainable transformation without a stronger industrial base. Chief Executive Officer of the Centre for the Promotion of Private Enterprise, CPPE, Dr Muda […] Fidelity Bank records  GH¢1.46b profit before tax in 2025  Fidelity Bank Ghana recorded Profit Before Tax of GH¢1.46 billion in 2025, representing 21 per cent increase from the GH¢1.21 billion recorded in 2024. 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 […]