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Agric commodity group targets $200m yearly from value-chain devt

By Anthony Otaru, Abuja
14 January 2022   |   2:40 am
The National President of the Federation of Agricultural Commodity Association of Nigeria, Dr. Victor Iyama, has assured that Nigeria can earn well over $200 million yearly from the Agricultural Commodity....

The National President of the Federation of Agricultural Commodity Association of Nigeria, Dr. Victor Iyama, has assured that Nigeria can earn well over $200 million yearly from the Agricultural Commodity Value Chain Expansion Project (ACVEP).

Iyama explained that if fully tapped, the sector will create over two million jobs for young Nigerians in the area of logistics, processing, supply chain management, agriculture extension services, and establishment of new agriculture products aggregation centre when fully operational.

ACVEP is an initiative of the Information Marketing and Management Institute [IMMI] in collaboration with the Federation of Agricultural Commodity Association of Nigeria. It is a practical step in building a strategic synergy with innovations and technologies for transforming the agricultural commodity sector.

Dr. Victor Iyama gave the assurances yesterday, in Abuja, while briefing journalists on the gains the nation stands to benefit from the project when fully operational.

He said: ‘’This is a sector that can take Nigeria out of poverty as it covers insurance, transportation and health. It is about food security, sufficiency and can take care of our foreign exchange earnings. Three commodities alone can earn the country more revenues than oil.”

Earlier, the IMMI President, Dr. Ekenechukwu Aloefuna said that the project is geared to expand commodity trade through implementation of agricultural research outputs, innovative best practices and multiple channel financing.

Aloefuna stressed that the project will strengthen deployment of digital innovations in creating farmers’ databases, farm mapping, space technology based farm monitoring, forecast reporting, flood and environmental impact mitigation.

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