Large-Scale Starch and Derivatives Producers Association (LSSDPA), will double the domestic production of cassava derivatives to at least 600,000 metric tons in five years, according to Oluyemisi Iranloye president of the association.
She said this amount will tighten the gap between supply-demand of cassava-based products in the country.
Currently, the domestic production of cassava derivatives is about 300, 000 metric tons, generating about N180 billion ($406m) in revenue annually.
In her keynote address at the inauguration ceremony of LSSDPA in Lagos, Iranloye said the aim towards doubling the amount will produce a revenue of at least N360 billion ($812m) per annum, further save the Nigerian forex exchange, reduce Nigeria’s reliance on import of cassava by-products and create new job opportunities.
She said, to generate a production output of 600,000 metric tons, there is need for about 3 million metric tons of fresh cassava root planted annually on approximately 170, 000 hectares of land.
Iranloye was of the view that this translates into an opportunity estimated to impact at least 10 million Nigerians in different host communities where the cassava derivatives producing factories are situated, adding that the livelihoods of farm families will improve, boost rural development, and reduce urban migration.
She quoted PwC as saying that the 3 million metric tons is just one-fourteenth of the estimated fresh root of cassava to be planted annually to meet the demand for cassava-based products.
In her words, “Therefore, this is a clarion call for decision-makers and the cassava value chain actors to synergize on enhancing the cassava value chain for the greater good of everyone.
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“Manufacturing companies will have quick and easy access to premium quality cassava derivatives needed for their manufacturing process. In addition, hundreds of thousands of unemployed youths will be gainfully employed, stimulate rural development, alleviate poverty, enhance food security, provide clean energy, and promote Nigerian industrialization.
“I consider Nigeria to be the greatest country in the world because it is the only country globally that possesses all the natural resources needed to survive
“Even Nigerians in diaspora agree that no country nears the greatness of Nigeria regarding our natural resources. It is just for us to have a bond of understanding to foster the country’s growth just as the LSSDPA inaugurated today to enhance the Nigerian cassava value chain and build the Nigerian economy,” she said.
Iranloye however, maintained that this is a new dawn of a new era that will transform the cassava value chain, foster economic growth, and help Nigeria meet its Sustainable Development Goal (SDG).
In his remarks, Rasheed Olakanmi Sarumi, chairman of the board, said “we together can save Nigeria up to a billion naira in foreign exchange which he said is currently spent in importing cassava derivatives to Nigeria.
He said this will go a long way building a type of economy that can transform and employ a lot of people.
While commending the Central Bank of Nigeria (CBN)governor, he said in the near future, his investment in the agric value chain, especially cassava will form part of his legacy.
He urged the newly inaugurated members to go ahead and bring other member companies into the association, urging the executives to have sustainable governance
“This will help in ensuring that the trade group and its representatives are able to sustain member’s interest,” he said.
Sarumi who noted that the association is bankable, called on Nigerian banks to support the association because it is the future of Nigeria.
