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  • Expert says agricultural export, way out of recession

    Sep 23rd, 2016

    Mr Offon Udoffia, an export expert, on Friday, stressed the need for increased processing and storage of agricultural products for export as one of Nigeria’s way out of the current recession. Udoffia stated this in an interview with the News Agency of Nigeria (NAN) in Abuja as he suggested moves that could be taken to pull the economy out of slump. He said that an aggressive promotion of agricultural value chain would not only restore economic buoyancy but create job opportunities.

    He added that “40 per cent of our harvests are wasted due to the lack of export value chain; we need to process more for export. “We must think of ways of preserving our agricultural products so as to avoid wastage.’’ Udoffia, who is the Chairman of Rivers/Bayelsa Shippers Association (RIBASA), said it was time for Nigeria to look inwards for economic innovations and actions for a virile economy.

    He noted that the siting of cashew nuts and pawpaw processing companies for exports would not only create wealth, but employment opportunities for the teeming youths in the country. The expert, who is into cashew and palm oil exportation, said “if a 250 metric tonne of cashew nuts factory is established in Nigeria, more than 500 youths will get jobs. “If, however, we establish a 500 metric tonne of the cashew nuts factory, certainly over 1,000 youths will gain employment.’’ But he reiterated the need for renewed export value addition to agricultural products to avert wastage.