FG pledges enabling environment for commodity markets to grow


The Federal Ministry of Industry, Trade and Investment (FMITI), has promised to an create enabling environment for commodity markets to thrive both locally and internationally.

The Permanent Secretary of FMITI, Dr Evelyn Ngige, said this at the official inauguration of 11 new associations into the National Commodity Associations of Nigeria (NCAN), held in Abuja.

Ngige, who said Nigeria was ranked highest in terms of production of agricultural commodities, attributed to its vast and fertile arable lands, however decried that the value addition to the commodities before marketing was the problem.

“Most of our commodities are exported in their raw forms, thereby robbing the nation of jobs and wealth, which would have been created if they had been processed here in Nigeria.

“It is in recognition of this ugly trend that the Ministry is interested in nurturing and forming national commodity associations across value chains, to ensure linkage and synergy among the key players in various commodity sub-sectors as well as to encourage value addition,” she said.

Ngige also urged new members of the association to work hard towards the efficient attainment of their aims and objectives, especially in value addition, which would contribute to national growth and development.

Also speaking, Director, Commodities and Export Department in the Ministry, Suleiman Audu, said the Federal Government’s objective in nurturing and establishing the association is to build strong institutional and human capacity.

“That is central to planning, managing, coordinating and monitoring activities in the nation’s commodity value chain.

“It is essentially to capture the needs of various stakeholders, such as policymakers, producers, in-put and out-put traders, processors and consumers and others involved in the business of agro-commodity sector,” he said.

Most of our commodities are exported in their raw forms, thereby robbing the nation of jobs and wealth, which would have been created if they had been processed here in Nigeria.

The President, Federation of Agricultural Commodity Association of Nigeria (FACAN), Dr Victor Iyama, said the association started with 15 associations which currently have 75 members, with 11 more associations added today and many are on the waiting list of being certified.

According to him, businesses have no age limit or retirement age as long as one is in good health, they are not only producing food but bringing trade and investment into Nigeria’s economy.

After the inauguration, the President, Bambara Nut Producers, Processors and Marketers, Ezedioramma Aniagu, told NAN that the association had done well in research and development of Bambara nuts.

Aniagu added that the association in its tireless drive for more door-to-door approach to the use of Bambara nut products, as a solution to world hunger, saw it necessary for the Ministry’s approval and launch.

“I want to assure all stakeholders and members of this great association that we shall keep our eyes to the actualisation of all that are expected of the association to aid the solution to world hunger.

“The association has a huge budget for the upcoming planting season in anticipation of achieving about two to three metric tons of Bambara nut output in the next harvest season,” he said. (NAN)

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