Latest news with #Adebola
Business Insider
10-05-2025
- Lifestyle
- Business Insider
I'm a Christian woman who moved from the UK to Saudi Arabia. It's improved my mental health and quality of life.
Banke Adebola moved from the United Kingdom to Saudi Arabia in 2024. Adebola said her mental health has improved while living in Riyadh. She said the city is growing into a top travel destination. My husband accepted a job offer three years ago, so I fit my life in about three suitcases and left my home in London. Now, I'm an accountant working remotely in Saudi Arabia. I'm not going to lie. When my husband moved to Riyadh, I said, "Let's stay a year or two, then come back to London." I had no idea what it would be like living here as a Christian Black woman, but my tune has changed. I've surprised myself with how much I like it here. There were things about Riyadh that surprised me Since my husband already had friends living in Riyadh, finding an apartment wasn't hard. For the first year, we rented an apartment, but we live in a compound now because it's closer to where my husband works. Expats tend to flock to compounds because there are no dress restrictions and there are amenities. Europeans, Americans, and people from all over the world live in a compound, which is a bit pricer than a normal apartment. On the other hand, some other expats want to live with the locals. One of the first things I had to come to terms with was that Riyadh is heavily reliant on cars and driving, so most locals don't rely on public transport. The Riyadh Metro Station opened last year, which is quite popular, but you still have to drive to the metro. In London, I would dedicate my Saturday mornings to walking around the town and grabbing a coffee on the way back. You can't really do that here because there aren't as many places around as in London. The Saudi government is trying to add more greenery, but it's not really a walkable city yet. It's too hot to walk half the year anyway because temperatures can reach 113F. Another was how to dress. When you hear about Saudi Arabia, you might think, "Oh, I need to buy a scarf or wear an Abaya." You don't need to do that as an expat. If you're not Muslim or if you're not from Saudi Arabia, there are no expectations to cover up like the locals do. You can wear whatever you want as long as you are dressed modestly and respectful of the culture. Many Saudis, or people who live in Riyadh, are Muslim, so it's embedded in the culture, and you will hear prayer calls all day. During Ramadan, many stores are closed during the day because people are fasting. The local coffee shop will be open from about 7 p.m. to 2 a.m., which I hadn't experienced Christian, it kind of encouraged me to take my faith more seriously because they take theirs very seriously. Also, the workweek in Saudi Arabia is Sunday to Thursday. I still get confused sometimes, and it's taken me a while to adjust to it. So far, the biggest impact that it's had on my life is that my mental health is much better here. It's not like I hated the UK, but I always had seasonal depression. When it was winter in London, I never wanted to leave the house, but I don't have any of that here. Even during the winter in Riyadh, it's always sunny. It's improved my quality of life and mental health. I just feel lighter here. Especially coming from the corporate world in London, where everything's quick. Riyadh is a modern city that's continuing to grow Riyadh has grown since I first visited. My husband and I have met more expats in the last six months than ever before. The government has something called Saudi Vision 2030. They're trying to make Saudi Arabia a top travel destination, so they've introduced lots of new entertainment. There are lots of boxing matches now, and last year, we hosted a tennis tournament with Rafael Nadal. If you visit, you will be surprised how much you like Saudi Arabia. There are so many things tourists can do, like visiting the museums or Boulevard World, which has exhibitions of different countries showcasing the food and culture.
Iraqi News
09-03-2025
- Business
- Iraqi News
Nigeria seeks to cash in on soaring cocoa prices
Abuja – Booming cocoa prices are stirring interest in turning Nigeria into a bigger player in the sector, with hopes of challenging top producers Ivory Coast and Ghana, where crops have been ravaged by climate change and disease. Nigeria has struggled to diversify its oil-dependent economy but investors have taken another look at cocoa beans after global prices soared to a record $12,000 per tonne in December. 'The farmers have never had it so good,' Patrick Adebola, executive director at the Cocoa Research Institute of Nigeria, told AFP. More than a dozen local firms have expressed interest in investing in or expanding their production this year, while the British government's development finance arm recently poured $40.5 million into Nigerian agribusiness company Johnvents. Nigeria is the world's seventh biggest cocoa bean producer, producing more than 280,000 tonnes in 2023, according to the most recent data compiled by the UN's Food and Agriculture Organization. The government has set an ambitious production target of 500,000 tonnes for the 2024-2025 season, which would move it into fourth place behind Ivory Coast, Ghana and Indonesia. Adebola doubts Nigeria can reach the target this season, but he believes it is feasible in the next few years as there is rising interest in rehabilitating old plantations or establishing new ones. He said Nigerian growers are much more exposed to the highs and lows of the global cocoa market than their peers in Ivory Coast and Ghana as prices are regulated in those countries. Cocoa futures contracts in New York have fallen from their December record but they remain high at more than $8,000 per tonne. Cocoa prices typically ranged between $2,000 and $3,000 before the recent surge. 'Individuals are going into cocoa production at every level… to make sure they also enjoy the current price,' said Comrade Adeola Adegoke, president of the Cocoa Farmers Association of Nigeria. – 'Full-sun' monocrop – Ivory Coast is by far the world's top grower, producing more than two million tonnes of cocoa beans in 2023, followed by Ghana at 650,000 tonnes. But the two countries had poor harvests last year as crops were hit by bad weather and disease, causing a supply shortage that sent global prices to all-time highs. Nigeria's cocoa has largely been spared so far from the worst effects of climate change, but expanding the crop could carry environmental risks. The government has stepped up efforts to promote the long-unregulated sector via the National Cocoa Management Committee, which was established in 2022 to regulate the industry and support farmers. But agriculture modernisation efforts have encouraged the development of 'full-sun' monocrop plantations that only focus on growing cocoa beans, without the use of companion plants or trees. A recent study in the journal Agroforestry Systems has raised concerns about this approach, saying monocrop farming can be less sustainable compared growing the bean alongside shade trees, promoting biodiversity and improving environmental health. – Land and money? – Scaling up the sector could also prove challenging because much of Nigeria's cocoa is grown by small-scale farmers. Peter Okunde, a farmer in Ogun state, told AFP he lacks both the capital and land to expand his four-hectare (10-acre) cocoa plantation. Land 'is the major instrument farmers need… and the money to develop it', said Okunde, 49. But John Alamu, group managing director of Johnvents, told CNBC Africa this week that 'the problem is not land area'. Noting that Nigeria has 1.4 million hectares dedicated to cocoa production — more than Ghana's 1.1 million, he told the broadcaster a more holistic approach was needed. 'These are things (other) governments have used to support farmers: provision of seedlings, training on good agronomic practices, a real focus on sustainable agriculture,' he said. 'These are key things that will be responsible to take Nigeria back to its leadership position.'
Yahoo
09-03-2025
- Business
- Yahoo
Nigeria seeks to cash in on soaring cocoa prices
Booming cocoa prices are stirring interest in turning Nigeria into a bigger player in the sector, with hopes of challenging top producers Ivory Coast and Ghana, where crops have been ravaged by climate change and disease. Nigeria has struggled to diversify its oil-dependent economy but investors have taken another look at cocoa beans after global prices soared to a record $12,000 per tonne in December. "The farmers have never had it so good," Patrick Adebola, executive director at the Cocoa Research Institute of Nigeria, told AFP. More than a dozen local firms have expressed interest in investing in or expanding their production this year, while the British government's development finance arm recently poured $40.5 million into Nigerian agribusiness company Johnvents. Nigeria is the world's seventh biggest cocoa bean producer, producing more than 280,000 tonnes in 2023, according to the most recent data compiled by the UN's Food and Agriculture Organization. The government has set an ambitious production target of 500,000 tonnes for the 2024-2025 season, which would move it into fourth place behind Ivory Coast, Ghana and Indonesia. Adebola doubts Nigeria can reach the target this season, but he believes it is feasible in the next few years as there is rising interest in rehabilitating old plantations or establishing new ones. He said Nigerian growers are much more exposed to the highs and lows of the global cocoa market than their peers in Ivory Coast and Ghana as prices are regulated in those countries. Cocoa futures contracts in New York have fallen from their December record but they remain high at more than $8,000 per tonne. Cocoa prices typically ranged between $2,000 and $3,000 before the recent surge. "Individuals are going into cocoa production at every level... to make sure they also enjoy the current price," said Comrade Adeola Adegoke, president of the Cocoa Farmers Association of Nigeria. - 'Full-sun' monocrop - Ivory Coast is by far the world's top grower, producing more than two million tonnes of cocoa beans in 2023, followed by Ghana at 650,000 tonnes. But the two countries had poor harvests last year as crops were hit by bad weather and disease, causing a supply shortage that sent global prices to all-time highs. Nigeria's cocoa has largely been spared so far from the worst effects of climate change, but expanding the crop could carry environmental risks. The government has stepped up efforts to promote the long-unregulated sector via the National Cocoa Management Committee, which was established in 2022 to regulate the industry and support farmers. But agriculture modernisation efforts have encouraged the development of "full-sun" monocrop plantations that only focus on growing cocoa beans, without the use of companion plants or trees. A recent study in the journal Agroforestry Systems has raised concerns about this approach, saying monocrop farming can be less sustainable compared growing the bean alongside shade trees, promoting biodiversity and improving environmental health. - Land and money? - Scaling up the sector could also prove challenging because much of Nigeria's cocoa is grown by small-scale farmers. Peter Okunde, a farmer in Ogun state, told AFP he lacks both the capital and land to expand his four-hectare (10-acre) cocoa plantation. Land "is the major instrument farmers need... and the money to develop it", said Okunde, 49. But John Alamu, group managing director of Johnvents, told CNBC Africa this week that "the problem is not land area". Noting that Nigeria has 1.4 million hectares dedicated to cocoa production -- more than Ghana's 1.1 million, he told the broadcaster a more holistic approach was needed. "These are things (other) governments have used to support farmers: provision of seedlings, training on good agronomic practices, a real focus on sustainable agriculture," he said. "These are key things that will be responsible to take Nigeria back to its leadership position." nro/lth/phz/lb Sign in to access your portfolio
