Nigeria can make over $100bn annually from agro commodities


Dr Victor Iyama, the President, Federation of Agricultural Commodity Association of Nigeria(FACAN), says Nigeria has over 52 agro commodities to enable it earn over 100 billion dollars annually.

Iyama made this known while leading a session at the 2019 Feed Nigeria Summit in Abuja.

There are about 52 agro commodities that can earn the country about 100billion dollar annually.

“FACAN has put up a position paper to the proper authorities on how this can be achieved.

“Besides earning revenue for the country, Nigeria has no business with poverty. We are blessed with all agricultural commodities.

“For instance, Indian hemp is a goldmine. We cannot have this million dollar commodity and be burning it.

“It is an agro commodity that takes only three months to cultivate and we will not wait until other countries overrun us on that anymore,” he said.

On economic subversion, Iyama said one of the major things impeding growth in the agricultural sector was smuggling.

He decried that the level of smuggling in the country was worrisome.

Yes customs is to blame to an extent but we all share in the blame.

“The customs has not really man the porous borders as it should. Except we use technology like drones, there is no how customs can effectively police the borders,” he said.

Iyama said that exploring possible avenues to boosting agriculture would do the country good, adding “it is about the most important part of an economy’’.

Yes we have oil, solid mineral, ICT and other things but we cannot drink oil or eat solid mineral and so, agro economy is the way to go.”

He said one of the ways to boost agriculture in the country was to explore the latest form of warehouses which have facilities to preserve agro commodities.