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Kingston Organic, Silvex International Announces Commitment to Nigerian Farmers and Environmental Sustainability

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Kingston Organic, a USA and UK-based agribusiness firm, has entered into a long-term business partnership agreement for supply, and purchase of agricultural inputs and produce with Silvex International, Ltd., a leading commodity trading company based in Kano, Nigeria, working with local farmers to produce staple crops such as rice, groundnut, sesame, soybean, maize, and hibiscus flower.

These crops are produced by Silvex supported farmers and sold domestically and exported internationally to major markets, as well as to the United Nations World Food Program (WFP).

In February, 2022, the two companies met in London, the United Kingdom and signed the partnership agreement with a view to expanding business strategy and operations to ensure that Nigerian farmers get an appreciable premium for their produce especially those cultivated under the organic atmosphere.

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Through this strategic partnership, that is launched today, Kingston Organic will supply to Nigerian farmers and growers an innovative product that diminish the use of traditional, toxic, chemical, and synthetic NPK fertilizers with a natural and safe alternative, that could reduce global emissions of greenhouse gases (GHG) and improving fertility and yields of existing agricultural soils.

Kingston is introducing a Humic & Fulvic Soil Booster that will be used by Silvex International Ltd on all its Nigerian farms, agricultural projects, and third-party farmers, which lessens greenhouse gases (GHG) both by reducing nitrogen emissions and by naturally improving the soil’s ability to sequester carbon in the farmland.

According to Sunusi Bature, Kingston’s recently hired VP of Nigerian Operations, “Our soil booster is an effective substitute for traditional chemical components although it is not a fertilizer.  It restores and condition depleted soils.  Humic and fulvic also enhances biomass production, improve the fertility and condition of the soil, and allows use of soil that otherwise would be low producing or non-arable”

In a statement issued to Nigeria media houses, Mr. Bature further explained that restoring non-arable lands is a critical need of Agricultural sector in Nigeria particularly and Africa in general, increasing the region’s production capacity is no doubt a complement against the global food crisis.

Mr. Gus Robayna, Kingston’s VP of Global Sales & Marketing, also stated that the use of fulvic soil booster accomplishes a very measurable, net negative greenhouse gases (GHG) emissions and provide eligibility for carbon credit generation.

“These credits fund recurring revenue streams that are measured and managed by our alliance partners, RegenFARM Ltd and Climate Wedge Ltd.  Using globally accepted protocols, the credits can be monetized and sold, and revenues generated by the sales are shared at a fixed percentage with the stakeholders participating in the process.” He confirmed.

Mr. Robayna added, “this means individual farmers and families share in the benefits without any cumbersome or complicated carbon credit management process and can use the funds to further improve their production efficiency and economic circumstances.”

He also explained that in addition to providing Silvex with its organic and natural soil booster, Kingston Organic will provide advisory services and financial assistance, and will purchase agricultural end-products from Silvex for sales into consumer markets in United Kingdom, the European Union, and the United States of America.

Silvex International Limited, is a Nigerian Commodity trading and logistics company undergoing significantly planned growth and is partnering to support the small-holder growers in Jigawa, Kano, Kaduna and Nasarawa states working with thousands of farmers each with an average size farm of 2 hectares or less.

These farms currently produce both conventional and organic crops, and the objective is to transform all farms to 100% organic production by the end of 2025.  This organic conversion will increase product demand and deliver higher prices sustainably to these farmers.

Other partners supporting the initiative include RegenFARM Limited, a digital design, simulation and decision-making platform for farmers, consultants, and food supply chain companies seeking ways to produce food using regenerative agriculture methods and Climate Wedge, Ltd, an independent carbon management firm pursuing principal investments and project development in the carbon markets, and providing carbon finance and emissions trading related advisory services.

For further information please contact:

Sunusi Bature, VP – Nigeria Operations  sbature@kingstonorganic.com

Gus Robayna, VP – Global Sales & Marketing  grobayna@kingstonorganic.com  www.kingstonorganic.com www.silvex.com.ng

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Lubricants and Nigeria’s economy

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By Cosmas Chukwunonso Nwobi

Every engine depends on oil, which serves as the heat transfer medium and lubricant for moving parts. It stops wears and damages from happening because the moving parts won’t be rubbing against one another.

The primary consumers of engine oil in Nigeria are those who own cars, generators, enterprises, tricycles, and motorcycles. Diesel and gasoline engines both utilize various grades of engine oil. Diesel engine oil is used to maintain heavy vehicles (diesel vehicles), small and large generators, as well as passenger vehicles (light vehicles). Petrol engine oil is used to maintain passenger vehicles (light vehicles).

The overall annual requirement for lubricating oils across the globe is projected to be 50 billion liters, or 60 percent automotive and 40percent industrial. However, industrial lubricants account for more than 70% of total global gross revenues and profit margins.

According to projections, Nigeria, with a gross domestic product of N150 billion in 2013 and more than N450.37 billion by the end of Q1 2021, is the third-largest user of lubricating oils in Africa, consuming 700 million liters of the substance per year (or 1 percent of the global demand).

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The aggregate profit margins of the blending plants were N45 billion in 2013 and N120 billion in the first quarter of 2021. Their total assets are projected to be worth N20 billion. This indicates that domestic production of lubricating oils meets 75 percent of the country’s total demand, with imports from specialist marketing companies providing the remaining 25percent.

You might also be interested to know that, over the projected period (2021-2026), the market for lubricants in Nigeria is anticipated to develop at a compound annual growth rate (CAGR) of 1.54%, reaching 300,399.52 kilo tons by 2026. which demonstrates that the market for automotive lubricants in Nigeria is anticipated to grow to $683 million by 2023.

This demonstrates that the significance of engine oil cannot be overemphasized and that lubricant production would be a very profitable business endeavor that would considerably boost Nigeria’s economy.

However, this industry was adversely affected by Nigeria’s slowing economic growth. The 2016 recession brought on by the sharp decline in global oil prices was the root cause of the downturn. Oil prices started the year at $36.76 a barrel and reached a high of $54.06 for the year. The lack of foreign exchange had a serious negative impact on the ability of various lubricants manufacturing companies to conduct business and imposed severe costs on key sectors of the country, which further cascaded into all areas of the economy. Given that many players in the industry imported large volumes of base oil and other raw materials needed to blend lubricants at the time, this meant that the shortage of foreign exchange affected all sectors of the economy.

However, the investment landscape is currently changing and Nigeria’s lubricant industry, if properly managed, will surely triple it’s current position in a few years to come. This is due to large oil marketers taking advantage of the lubricants market’s deregulation and lack of significant government intervention.

I commend the effort of the Nigerian Government so far in reducing import charges for Lubricant Blending plants firmly advocate for the need of a driving and I strongly advocate that more can be done in this area since Nigeria’s lubricant business has great prospects for investors. Should we succeed, early investors will also benefit from pioneer status and a five-year tax break.

I firmly believe that better consumer education, cooperation with transportation companies, increased consumer knowledge, and the provision of higher-quality lubricants at lower prices would help Nigeria’s lubricant manufacturers expand and make more money.

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Best choice Specialist Hospital Launches First Intensive Infant Phototherapy Machine In Kano

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_”A Beacon of Progress in Northern Nigeria!”_

In a groundbreaking move, Best Choice Hospital has taken a significant leap forward in pediatric care with the introduction of the Infant Phototherapy Unit, a groundbreaking technology designed to treat jaundice and prevent brain damage in newborns.

In a statement signed by Auwal Muhammad Lawal Group Managing Director of the Hospital noted that pioneering technology enables medical professionals to transfuse blood with unparalleled precision, safety significantly enhancing treatment outcomes for children.

…. Noted that the innovative machine boasts a remarkable 70% radiance output and features a standard phototherapeutic unit, eliminating the need for blood transfusions.

Auwal reiterated that introduction of this advanced state-of-art machine marks a significant milestone in Best Choice Hospital’s ongoing commitment to pediatric excellence.

With its advanced capabilities, the Infant Phototherapy Unit can effectively treat jaundice in a targeted manner, providing a beacon of hope for families.

“We understand the distress and hardship that comes with pediatric medical conditions”

“That’s why we’ve invested on this to ease the burden on families and provide children with the best possible chance at a healthy life”. Said Lawal

As the first of its kind in Northern Nigeria, this cutting-edge technology offers a comprehensive treatment solution for infants, covering the entire body with its optimal wavelength.

Dr. Abdulmalik Saminu, a leading medical expert expresses optimism that the development reinforces Best Choice Hospital’s position as a leader in pediatric care, providing families with renewed hope and confidence in the treatment of their loved ones.

Saminu further conveyed heartfelt gratitude to the hospital’s proprietor for his tireless efforts in making this life-changing technology available.

With the Infant Phototherapy Unit, families no longer need to travel abroad for medical treatment, as Best Choice Hospital now offers world-class care right in their own backyard.

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Naira depreciates to N1,635 in parallel market

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The Naira yesterday depreciated to N1,635 per dollar in the parallel market from N1,625 per dollar last weekend.

However, the Naira yesterday appreciated to N1,585.77 per dollar in the Nigerian Autonomous Foreign Exchange Market, NAFEM.

Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,585.77 per dollar from N1,598.56 per dollar last weekend, indicating N12.79 appreciation for the naira. The volume of dollars traded (turnover) in the market declined by 58.8 percent to $71.18 million from $172.8 million traded last week Friday.

Consequently, the margin between the parallel market and NAFEM rate widened to N49.23 per dollar from N26.44 per dollar last weekend.

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