Home » Africa: Nigerian House of Representatives Calls for Targeted Incentives to Boost Export of Yams

Africa: Nigerian House of Representatives Calls for Targeted Incentives to Boost Export of Yams

by Atqnews
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The House of Representatives has issued a call for the Federal Government to enhance yam tuber production by providing targeted incentives to farmers.

The proposed incentives would be facilitated through collaboration with key financial institutions such as the Central Bank of Nigeria (CBN), Nigerian Agriculture Insurance Corporation (NAIC), Bank of Agriculture (BOA), and Commercial Banks.

According to vanguardngr.com, It also urged the Federal Ministry of Agriculture and Food Security to carry out policy reviews to regulate and supervise agencies responsible for exportation in Nigeria to boost exportation.

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The resolutions of the House followed a motion co-sponsored by Hon. Akume Regina, member representing Gboko Tarkaa Federal Constituency, and Hon. Adedayo Samuel Adesola, (APC, Lagos)

The motion titled “Need to Formulate Policies that will foster Exportation and Boost Yam Production in Benue State and other parts of Nigeria”.

Moving the motion, Akume noted that yam is one of the most widely consumed food crops in Nigeria and a major cash crop cultivated in Benue State and other parts of Nigeria.

According to her, the producers of yam are heavily reliant on its consumers due to the lack of a proper storage system in place that guarantees its availability and freshness over a long period.

She said that the exportation of yam is highly recommended to boost Nigeria’s earning capacity, its external reserves, and its value chain. Unfortunately, exportation is not a thriving business option in Nigeria due to bottlenecks created by regulatory agencies.

She further worried that those engaged in the business of exportation do so outside the purview of the agencies responsible for promoting the trade by employing the services of local packaging producers or moving their operations to more business-friendly economies like Ghana, Cote d’Ivoire, and Benin Republic.

She also explained that the Nigerian farmers are the primary suppliers of raw materials for the “Fresh Yam Produce in Ghana”.
To this end, the House therefore mandated its Committee on Commerce to invite the Nigerian Export Promotion Council (NEPC), National Agency for Food and Drug Administration Control (NAFDAC), and National Drug Law Enforcement Agency (NDLEA) to give an update on promoting Nigeria’s export business.

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