Trending

NAADI:NIGERIA LOOSES $65BILLION YEARLY FOR NOT PROCESSING ITS RAW MATERIALS

The zonal Coordinator, Nigeria Agribusiness Agroindustry Development Initiative (NAADI) and State Chairman, south south Regional Coordinator, Federation of Agricultural Commodity Association of Nigeria (FACAN), Mr Howard Usen said, that Nigeria looses 65 billion dollars yearly for not processing its raw materials exported to other countries. Mr Usen disclosed this while interacting with pressmen in his office on Thursday in Uyo, Akwa Ibom State Capital.
The Zonal boss who said this, explained that crude oil which is Nigeria’s major source of export, when exported to other countries at a low price of $50,$60,$70 per barrel,the country then refined the product and sell back at a very expensive rate,which in return brings loss to the country.
Comparing other local contents, he said, red oil (palm oil) is more expensive to export than crude oil, as the export rate in the international market is 2500 dollars per barrel. He said, sterming from this, that the stakeholders came with the organization NAADI to see how the country can process its local contents like cocoa and other commodities to avoid losses.
Mr Usen said that NAADI will serve as the umbrella association of all farmers’ group, and the rallying point of all the commodities association, and also added that the organization will bridge the gap by ensuring that value chain from production of raw materials to processing of the raw materials is effective .
Speaking further, he noted that NAADI is one programme that will lift people out of poverty and create massive employment through processing of our local contents, and if Nigerians work with NAADI consistently and seriously, the country will be exporting massively to other countries. “The kind of employment generation agriculture value chain can give is massive. NAADI is one of the programme that will lift people out of poverty and reduce extreme hunger, it will increase local contents, if we work with NAADI very consistently and very seriously in the next 3 years, Nigeria will be exporting massively to other countries.”
Earlier on, The Zonal boss, hinted that the zonal headquarter of NAADI for South South is in Uyo, Akwa Ibom, and was officially commissioned on Wednesday, 23rd May 2018 by the Minister of State for Commerce, Isha Abubakar, with its main headquarters at the Federal Ministry of Trade and Investment and zonal headquarters across all six geopolitical zones.
Mr Usen also said, that the programme was developed by African Heads of states in 2010, as a way of increasing employment, reducing poverty and extreme hunger in Africa, noted that the similar programme is on going in Europe.
As NAADI has selected crops of comparative advantage for south south region, he charged the people of Akwa Ibom State and the south south zone to key into the programme which will star with training to the giving of loans to the farmers for maximum production.

By Uko Etim, TRAILREPORTERS.COM

Leave a Reply

Send in Your Business News to BusinessTrumpet News!