National Assembly passes PVP into law, Nigeria to earn $2b, says NESG

The National Assembly has finally passed the Plant Variety Protection (PVP) bill into law, and by this act, the right of ownership of both the national and multinational will be well protected to enhance agricbusiness in the country just as earning would upscale to $2b from zero currency in five years. This was contained in a press statement made available to us by the head, corporate communication, Nigerian economic Summit Group, Mr. Yinka Iyinolakan yesterday. 

It was stated that the passage of the bill would give plant breeders intellectual property right to commercialize seeds just as the right to promote the marketing of the new varieties for better earning to regain back production cost. The bill has been sent for presidential ascent.

The full text of the press release read thus ‘‘NESG applauds the passage of the Plant Variety Protection (PVP) Bill The Nigerian Economic Summit Group (NESG) applauds the Nigerian senate for passing the Plant Variety protection Bill (PVP) into law on the 3rd of March 2021. The PVP Bill (HB 68) was read for the third time and passed into law by the Senate after several months of deliberations. It can be recalled that the Plant Variety Protection Bill was read for the First time in the Senate on the 16th of February 2021 and is in concurrence with passage of the Bill by the House of Representatives on the 17th of December 2020''. 

''Through the Partnership for Inclusive Agricultural Transformation in Africa (PIATA), together with AGRA, the Rockefeller Foundation, Bill & Melinda Gates Foundation and USAID, the NESG has been collaborating with the Nigeria Agricultural Seed Council (NASC) to support the enacting of legislation that will provide a plant variety protection system that will incentive to national and multinational agribusiness investments, and aid the development of Nigeria’s Agriculture value chain. The passage and implementation of the Plant Variety Protection bill will give Plant breeders intellectual property over a new plant variety, with exclusive rights to commercialize seed and/or propagation material of the variety. The PVP also promotes marketing of new varieties and allow breeders to earn back the considerable costs involved in the long process of variety development. Furthermore, a well-functioning Plant Variety Protection (PVP) system will encourage in-country breeding activities; this will also attract foreign companies to introduce high quality improved varieties, knowing that others cannot easily copy their effort or take advantage of it. Once the PVP Law is passed and implemented in Nigeria, the country will move from generating $0 from seeds export to generating well over $2.0 billion from seeds export within the first 5 years. While commending the National Assembly for its role in ensuring the passage of the PVP Bill, we implore the government to act speedily in ensuring that this legislation is signed into law, as we believe that the measures set out in the PVP Bill will create a more appropriate system that meets today’s realities, improve the business environment and general agricultural performance across the economy as a whole’’.