The Minister of State, Ministry of Industry, Trade & Investment, Hajia Aisha Abubakar has said Nigeria stands to benefit immensely from the Shea Industry if the informal sector is properly harnessed.
The minister noted that the industry can boost employment generation, alleviate poverty, create wealth, sustain the environment and attract foreign investment.
Hajia Abubakar disclosed this when she intimated members of the press on the upcoming 11th Annual International Shea Conference tagged “Shea 2018” focused on “Going Further Together” scheduled to hold in Abuja, from 12th -14thMarch, 2018.
According to her, Nigeria accounts for about 57 per cent of the world Shea nut production of which the global Shea market for Chocolate/ Confectionery value is approximately $117bn while that of the Cosmetics industry stands at $382bn.
“The 2018 conference no doubt explores the meaning of an African proverb that states “if you want to ‘go quickly, go alone; if you want o go far, go together.” she said.
The conference she said will afford Nigeria an opportunity for business linkages between Nigeria’s and the rest of the world, reduce trade barriers and also achieve sustainability.
“the country would be on the right path to diversifying its economy through strategic focus on the commodity’s export business”
“Shea butter has the potential to eradicate poverty, improve rural economies and also provides richness in our teeming youths” she added.
Similarly, the Ministry will in collaboration with the National Cotton Association of Nigeria and the Ministry Agriculture, organise the 16th Annual International African Cotton Congress which will focus on Mechanised Cotton Farming as an essential equipment to boosted African Cotton production .
She decried the decline in seed cotton production in the county despite been blessed with a fertile land for cotton production.
The Conference she hopes will provide Nigeria with International Beat practices as well as new technologies inline with cotton farming.
Minister to Promote Franchise of Made in Nigeria Businesses.
This is even as the minister is set to champion a Franchise business development services for made in Nigeria business access around the world.
The scheme aims at franchising scalable local businesses that have proven their mantle to other countries.
The managing consultant, Franchise Business Development Services Limited (FBDS), Mr Chiagozie Nwizu said allover the world, businesses are leveraging on the opportunity provided by franchise to build and expand their brands and Nigeria cannot be an exception.
He noted that the venture will help enhance the economy through local production and by extension, the GDP.
“Countries like India, South Africa and The United states have had success stories and we feel that we can benchmark and replicate same for Nigerian businesses.”
“Majority of foreign businesses in Nigeria today are Franchised and we think that we can leverage successful businesses in Nigeria just like we have the likes of shoprite, Donmino pizzas, and so on.
The minister promised them of the ministry’s support and enthusiasm for promotion of made in Nigeria products.
She urged the National Assembly to speed up the passage of the Franchise Bill which have scaled through the second reading into law to provide the legal framework for the scheme.