By Chijioke Ohuocha
By Chijioke Ohuocha
ABUJA, March 6 (Reuters) – Nigerian fertiliser maker Notore NOTORE.LG plans to hunt shareholder approval this month for a 40 billion naira ($131 mln) capital improve, the corporate stated on Friday.
The corporate, which has pursuits in energy, meals and seed manufacturing, stated it plans to supply shares or bonds and that the shareholders vote will probably be on March 26.
Chief Govt Onajite Okoloko has stated that Notore, which additionally develops and sells staple crops similar to maize and rice, deliberate to spice up entry to capital to fund the corporate’s development.
Agriculture accounts for 20% of Nigeria’s gross home product, with crop manufacturing the most important contributor throughout the farming subsector.
Nonetheless, low fertiliser manufacturing and the excessive value of importing fertilisers has restricted seed manufacturing. Fertiliser consumption in Nigeria ranks under its African friends at round 100 kg per hectare.
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