Export council targets $5bn annually from soya beans

The Nigeria Export Promotion Council (NEPC) has said it is targeting $5 billion annually from the global soya beans market.

The Executive Director/Chief Executive Officer of the Council, Mr Olusegun Awolowo, stated  this Saturday during  the implementation of soya beans value chain under the one-state-one-product  initiative of the Zero Oil Plan and presentation of threshing machines/equipment for farmers’ cooperative groups in Makurdi, the  Benue state capital.

He said “the $5 billion dollars target is five per cent of the total money generated annually from soy beans at the global market.”

Awolowo, who was represented by deputy director, Policy and Strategy, Akintunde Folorunso, stated  that there was need to explore the inherent potentials presented by the Zero Oil Plan for export market.

He said “the Zero Oil Plan is in line with the federal government’s Economic Recovery and Growth Plan (ERGP),” a strategy for achieving Sustainable Development Goals (SDGs) growth, economic recovery in the short-term with structural reforms at diversifying the economy over the medium – long term.

“The Zero Oil Plan is, therefore, captured in the ERGP document as a new direction for Nigeria to build an economy that does not depend on foreign exchange from crude oil.

“This is to improve public finances, strategic sovereign relationships, growth in real sector output, improved competitiveness, stronger economic linkages, grassroots empowerment, improved skills and competencies, higher wages and higher investments,” he said.

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