Smart Nigerians Eye Huge Foreign Market As FG Lifts Ban on Wood, Charcoal Exportation
- Nigeria's Federal Government has lifted the ban on charcoal and processed wood exports to boost businesses and foreign exchange earnings
- The decision was made after a stakeholders' consultative meeting on the review of the ban
- The government has warned operators to adhere to the Nigeria Timber Legality Standards and Guidelines to avoid prosecution
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The Nigerian government has lifted the ban on charcoal and processed wood exports in a bid to boost businesses and increase foreign exchange earnings.
The Minister of Environment, Mohammed Abdullahi, made the announcement during a stakeholders' consultative meeting in Abuja.
The move has sparked interest among exporters who are eager to tap into a market worth $158.35 billion.
Source: Twitter
Abdullahi acknowledged that the ban had negatively impacted many businesses, especially those converting waste into exportable products.
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He emphasized that the government is willing to listen to citizens' concerns and would not be rigid in its policies.
The lifting of the ban presents an opportunity for private sector investment in plantation establishments for future utilization.
Abdullahi was quoted to have said:
“The ministry has observed that many businesses have been unintentionally affected, especially those converting waste to wealth for export. As a responsible government, we would not be rigid in our policies, and will always listen to citizens on how these policies affect them.
“After careful deliberations, I hereby pronounce the conditional lifting of ban/suspension on the export of charcoal and processed wood respectively.”
However, the Minister cautioned operators in the industry to adhere to the Nigeria Timber Legality Standards and Guideline for Wood and Charcoal Export to avoid prosecution. The ban had been in place since 2018 and 2020.
The United Arab Emirates, Lebanon, Jordan, Saudi Arabia, and Poland are among the top destinations for Nigeria's charcoal exports.
Yemisi Iranloye: Meet Nigeria's queen of cassava who makes over N5bn yearly
Legit.ng reported that talking about agriculture, Nigeria is amazingly the world's largest producer of Cassava and some farmers are making it big time from the food crop.
One such person is Yemisi Iranloye, known as the Nigerian queen of Cassava who is said to have overcome all the multinationals and maintained the lead in the business.
With a production of 10,000 tons of cassava per year, Iranloye makes an amazing annual turnover of $12 million (N5,136,120,000.00)
Source: Legit.ng
