Cassava: NEPC wants export as CBN promises finance

The Nigerian Export Promotion Council (NEPC) boss Mr. Segun Awolowo has emphasized the need for more export of cassava derivatives to achieving more economic earnings for the country, even as Central Bank of Nigeria (CBN) is now set to finance the development of the crop value chains with loan supports.

Mr. Segun Awolowo posited that more effort for the export of cassava products is needed to galvanize the development of the crop through more foreign earning for infrastructural development at the 4^th Annual General Meeting (AGM) of the Cassava Cottage Processing and Marketing Association held in Ibadan early this month.

In a paper presented on his behalf by Mr. Rufus Durodoye , the NEPC boss stated that concentration of  our national energy on export of more cassava derivatives abroad for industrial usage  like for animal feeds and ethanol would be very helpful to our economy saying that ‘’ export of cassava will lead to employment creation, infrastructure development, increase in GDP and foreign earnings, increase in technologies and invention’’

He lamented that despite increasing effort towards production of cassava through improved seed varieties and other development strategies, the crop in terms of export has ranked 50^th in the world statistics saying this must be a thing of great concern on why all the stakeholders must be interested in exporting the crop derivatives like cassava chips, cassava leaves, cassava flour and ethanol.

Awolowo added that ‘’ we encourage all stakeholders seated here to aggressively pursue the export of cassava, the area of value addition must neither be forgotten nor relegated to the back seat’’

Meanwhile, the CBN Government, Mr. Godwin Emefiele in a meeting held in Lagos something ago has signified that the apex bank would be supporting the loan financing of cassava productivity in order to develop the crop for greater potential of economic empowerment and growth of the nation and stakeholders.

Mr. Emefiele said the CBN would be supporting the cultivation of about 250,000 hectares of land that would ensure more availability of the produce for both edible and industrial uses for both local and international markets stressed that ethanol and dry chips will be well supported..