House Wants CBN, NAIC To Boost Yam Production

House of Representatives has urged the federal government to boost yam production, particularly in Benue State through targeted incentives to the farmers from the Central Bank of Nigeria (CBN), Nigerian Agriculture Insurance Corporation (NAIC), Bank of Agriculture (BOA) and commercial banks.

The House also urged the Federal Ministry of Agriculture and Food Security to carry out policy reviews to regulate and supervise agencies responsible for exportation in Nigeria to boost exportation.

The resolutions followed the adoption of a motion on: „Need to Formulate Policies that will foster Exportation and Boost Yam Production in Benue State and other parts of Nigeria“, moved by Hon Regina Akume (APC, Benue), Hon Adedayo Adesola (APC, Lagos) at plenary, yesterday.

Moving the motion, Akume noted that yam is one of the most widely consumed food crops in Nigeria and a major cash crop cultivated in Benue State and other parts of Nigeria.

She said the producers of yam heavily rely on its consumers due to lack of proper storage system in place that guarantees its availability and freshness over a long period.

The lawmaker emphasised the need for the exportation of yam to boost Nigeria‘s earning capacity, its external reserves, and its value chain.

Akume however, said exportation is not a thriving business option in Nigeria due to bottlenecks created by regulatory agencies.

She expressed worry that, „those engaged in the business of exportation do so outside the purview of the agencies responsible for promoting the trade by employing the services of local packaging producers or moving their operations to more business-friendly countries like Ghana, Cote d‘Ivoire, and Benin Republic.

„The Nigerian farmers are the primary suppliers of raw materials for the ‚Fresh Yam Produce‘ in Ghana.“

Adopting the motion, the House mandated the Committee on Commerce to invite the Nigerian Export Promotion Council (NEPC), National Agency for Food and Drug Administration Control (NAFDAC), and National Drug Law Enforcement Agency (NDLEA) to give an update on promoting Nigeria‘s export business.