NewsExpress advert Yudala banner
Nigeria imports N165bn fruit juice annually: MAN

By News Express on 30/04/2016

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 1,421


Nigeria spends N165 billion annually to import fruit juice, the President of the Manufacturers’ Association of Nigeria (MAN), Dr Frank Jacobs, has said.

In a paper presented at a workshop organised by the Raw Materials Research and Development Council (RMRDC) in Owerri on Friday, Jacobs noted that in spite of the high rate of fruit production and a thriving juice market, the country imported fruits concentrates.

In the paper entitled ‘Promoting Investments in Concentrate Production,’ he said the situation resulted in an estimated loss of one billion dollars annually.

Jacobs, represented by Mr Nwabueze Anyanwu, observed that Nigerian farmers also lost 60 per cent of their produce as a result of lack of processing facilities.

He listed other factors to include limited demand and logistics challenges such as handling and transporting the fruits to the urban centres.

“Importation of concentrates has adversely affected local fruits cultivation for juice processing.”

He also said that the continued dependence on massive importation of concentrates by industries was not healthy for the nation’s economy.

He said that the availability of raw materials, a large market, a ready domestic concentrate and good export potentials should serve as incentives to attract investment in the project.

Jacobs said that the challenge of poor concentrates in the country could be overcome with improved high-yield seedlings, technology and technical services and better education and enlightenment for farmers.

He noted that the recent drive by the Federal Government to diversify the economy, encourage resource-based industrialisation and backward integration should provide the needed impetus to attract investors.

He urged the government to ensure policy consistency to avoid a repetition of policy summersaults of yester-years.

The industrialist said that research and development be made an integral part of the country’s backward integration policy while various research institutions should be strengthened through funding and manpower development.

Another area to be considered, he said, was a “special lending facility of not more than 5 per cent interest rate” for investments in concentrate production in view of the huge capital outlay required for the project.

Jacobs opined that the gains of promoting resource-based industrialisation included conservation of foreign exchange, employment generation, wealth creation, economic diversification and poverty reduction.

“A nation’s over dependence on importation harms its poise, weakens its future reserves, affects its ability to be fully independent and presents a string of unpredictable social ills.”

The workshop was organised in collaboration with the Imo state Polytechnic, Umuagwo. (NAN)

 

Source News Express

Posted 30/04/2016 05:02:02 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Global business leaders descend on Trump over US...

Cholera threatens 1.4 million in IDP camps, says...

Police nabs militant leader planning to bomb Lagos...

APC splits; angry members float True APC

2017: Expectations high in Nigeria •Celebrations as New...

North Korea threatens pre-emptive nuclear strike on South...

New twist in Rivers murder trial

Rivers sanitation agency announces cleanup exercise for Saturday...

ASUU gives strike notice

Gallant vigilante cuts short suicide bomber’s deadly mission...

NiMET predicts thick dust haze, cloudy weather for...

Suicide bomber kills 14 inside mosque

 

Latest News Buhari’s son rumoured dead but Presidency says very much alive Yobe school attack: 2 girls reported dead, 13 still missing Stop extorting money from innocent Igbo traders, Okorocha tells Customs Teleology emerges 9mobile preferred bidder, given 21 days to deposit non-refundable $50m Court declares daytime curfew of Oro festival illegal in Ogun FG to invest in modular refineries PDP expresses shock over missing Dapchi school girls, tasks Police IG Budget Minister briefs National Assembly leadership on economic recovery focus labs Ekiti movement releases ‘Neighbor to Neighbor’ outreach timetable for Fayose’s preferred successor African migrants begin hunger strike over Israel policy Delta State Government seeks parents’ support for measles vaccination campaign NSCDC officials who shot Bayelsa youths acted in self-defence: State Commandant

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (326,096 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (317,790 views) Shameless Genevieve Nnaji exposes breasts in public (254,525 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (208,793 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (194,684 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (187,600 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (163,275 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (146,580 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (140,336 views) Lagos plane crash: Journalist releases victims’ names (129,464 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (127,967 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (123,060 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (34) Business (2,899) Business Verdict (34) Columnists (804) Complaints & Requests (94) Enterprise & Opportunities (203) Entertainment (446) Features (549) Global Business Monitor (226) International (1,799) Interviews (143) Live Commentary (28) Love Matters (105) News (33,033) Opinion (883) Pidgin (10) Politics (4,512) Religion (681) Sports (1,438) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement