Nigerian poultry farmers have complained that several poultry farms are shutting down operations due to skyrocketing prices of poultry feed and unsustainable cost of production, among other challenges in the sector. The farmers, who spoke with our correspondents within the week, said the worrying trend could lead to a total collapse of Nigeria’s poultry industry in no distant time if not addressed by those in authority. The skyrocketing prices of essential livestock feed ingredients such as maize and soybeans and the growing spate of insecurity across farming communities are negatively affecting poultry output. The farmers also lamented that general price…

KuCoin, a cryptocurrency exchange, says it will commence collection of a 7.5 percent value-added tax (VAT) on transaction fees for users in Nigeria. The company said a regulatory update in Nigeria led to KuCoin’s decision to introduce the VAT. In a statement on July 3, the cryptocurrency platform said the deduction of the VAT would be effective from July 8. KuCoin said for every trade, the 7.5 percent VAT will be applied to the transaction fee — not the total transaction amount. “We are writing to inform you of an important regulatory update that impacts our users from Nigeria,” the…