BusinessDay

Envoy woos investors to Nigeria’s ‘$10b’ beekeeping enterprise

The Consul General of Nigeria in New York, Amb. Lot Egopija, has urged foreign investors to utilise the investment opportunities in Nigeria by investing in bee farming.

Egopija made the call at the closing of 2022 World Bee Conference, organised by the Nigeria-USA Chamber of Commerce in collaboration with the Collaborative Chambers Alliance in Cleveland, Ohio, U.S.

The envoy said the country’s potential in bee farming had been estimated at over $10 billion annually as against the current inflow of $4.5.

“Nigeria has the potential of becoming the largest producer of honey and manufacturer of honey products in Africa given it huge land size and lush vegetation,’’ he told the conference in a video message.

According to him, the Government of Nigeria is currently working on a medium to long-term development agenda to transit from oil-based economy to a green economy.

He said the Government was working to transit to a green economy which food security and environmental conservation, especially through agriculture, as areas of focus.

“It is estimated that about 10 million Nigerian households consume an average of one litre of honey annually at the cost of 30 million dollars, half of which is imported.

“With the appropriate facilities and funds, large quantities of different grades of honey can be sourced locally and packaged for exports to reduce pressure on our foreign exchange for honey importation.

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“As the largest economy in Africa and one of the most profitable investment destinations in the world for potential investors, business opportunities are abundant and are on the increase in Nigeria,’’ the envoy said.

According to him, Nigeria enjoys duty-free trade with ECOWAS Member countries and as the largest consumer market in West Africa.

He said the Trade and Investment Desk of the Consulate-General was readily available to guide potential investors to fully maximise the benefits of the Federal Government’s visa on arrival policy, the pioneer status incentive, and the expanded tax holiday incentives, among others.

Egopija, therefore, pledged support for foreign investors willing to utilise the investment opportunities in Nigeria by investing in bee farming.

He said the Consulate-General was committed and determined to build lasting partnerships that would stimulate, sustain and deepen USA-Nigerian economic relations.

The theme of the conference is “The Economic Impacts of Honey Bees and Other Pollinators.’’

The News Agency of Nigeria (NAN) reports that the conference was held in preparation for the World Bee Day Celebration coming up in Spencer Ohio on Saturday May 21.

The World Bee Day is celebrated on May 20 to draw the attention of the world’s public and political decision-makers to the importance of protecting bees and other pollinators.

The goal is to strengthen measures aimed at protecting bees and other pollinators which are expected to contribute significantly to solving problems related to the global food supply and eliminate hunger in developing countries.

According to the United Nations (UN), bees and other pollinators, such as butterflies, bats, and hummingbirds are increasingly under threat from human activities.

Pollination is, however, a fundamental process for the survival of the world’s ecosystems.

Nearly 90 per cent of the world’s wild flowering plant species depend, entirely, or at least in part, on animal pollination, along with more than 75 per cent of the world’s food crops and 35 per cent of global agricultural land.

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