Maroc - VERACITY.COM.NG - A La Une - 28/Oct 13:06

Stakeholders seek resilient, inclusive Shea industry to boost economy

By Chidinma Ewunonu-AlukoProf. Nnanyelugo Ike-Muonso, the Director-General of Raw Materials Research and Development Council (RMRDC), has emphasised the need for the country to create a resilient, competitive and inclusive Shea industry to boost the national economy.Ike-Muonso, represented by the council’s Deputy Director, South-West coordinating division, Mrs Oluwakemi Ajani, said this on Tuesday at a One-Day investors’ forum on shea nut resources and development in Ibadan, Oyo State. The News Agency of Nigeria (NAN) reports that the forum entitled “Enhancing Sheanut Resources and Its Export Potential for Economic Value”, was organised by RMRDC, Oyo State and partners.Ike-Muonso emphasised that by investing in the Shea sector, the country could create thousands of jobs, secure livelihoods for women and generate significant export revenue, thus strengthening the national economy and preserving vital ecosystems.According to him, the  forum offers a lot of information and benefits such as understanding the resources, strengthening the value chain, forging strategic partnerships and mobilising finance. “It represents a significant milestone on our collective drive to unlock the immense potential embedded in Nigeria’s raw material sector.“Our mission at RMRDC has always been to promote sustainable industrial growth by fostering Research, Development and Investment opportunities that will strengthen our local industries, reduce import dependency and create wealth for our people.“This investment forum represents a pivotal moment in our efforts to develop the Shea value chain for national growth and sustainable development,” he said.He said that Nigeria is blessed with an abundant resource of Shea trees, in spite of being one of the world’s largest producers; our country remains a marginal player in the global shea market.Much of the production, Ike-Muonso said, was exported in raw form with minimal value addition, thereby denying the economy the full benefits of this natural resource.“This forum is therefore not just a call to discussion but a call to action, a call to harness innovation, strengthen partnerships and stimulate investments that will transform the shea nut sector.“We need transformation from cultivation and processing of shea nuts to packaging, certification, branding, and export,” he said.Mrs Abosede Owoye, Permanent Secretary,  Oyo State Ministry of Agriculture and Rural Development,  says the Shea tree stands as one of the most significant economic trees and forms a cornerstone to the rural economy.She described  Sheanut as a powerful catalyst for improving the national economy because of its unique potential.“Shea butter possesses economic values that remain untapped; we must confront the challenge of processing our raw materials such as it to unlock the potential.“It’s medicinal, a great way to create jobs that can yield huge foreign exchange if the value chain is developed,” she said.Also speaking,  Hon. Olabode Adeniyi,  Oyo State Commissioner for Trade, Industry, Investment and Cooperatives, said the theme was apt due to the numerous economic values of Shea butter.Adeniyi, represented by one of the directors in the ministry, Mr Olayinka Raimi, stressed the need for value addition to give more foreign exchange.“We should focus more on processing and refining the Shea nut to finished products to earn higher market value,” he said.The chairman of the occasion, Mr John Karunwi, stressed the need for critical stakeholders such as NAFDAC to be involved in the Shea butter production to meet international standards.Karunwi said there was a need for all stakeholders including the youths, to be competitive in the production of Shea butter, and its value addition to prevent it from going into extinction.“We have a complete value chain to explore for us to get the full benefits of Shea butter and without raw materials, it can go into extinction,” he said.In his keynote address, Dr Dayo Sosina, Director of Agribusiness Oyo State Agribusiness Development Agency(OYSADA), says Shea tree has alot of environmental benefits such as water conversation and protection of ecosystem.Sosina called for a political will that would bring investment in Shea trees/nuts.He also emphasised the need to sensitise the public on the importance of planting economic trees such as Shea tree."There is also need for adequate financial allocation for the production of Shea nuts and its value addition," he said. (NAN)