NEPC targets N2bn from Obollo
The Nigerian Export Promotion Council (NEPC) has estimated that the cashew mini-processing factory it set up at Obollo-Afor in Eungu State can earn N2 billion foreign exchange for the country every year.Mr. Segun Awolowo, the Chief Executive Officer of NEPC disclosed during a cashew export promotion meeting organised by the Council in collaboration with United States Agency for International Development (USAID) and Nigeria Expanded Trade and Transport (NEXTT) in Lagos.
Commenting on cashew particularly, he said that in 2013, cashew exports generated N17.7 billion ($110m), which represents about 10 percent of agricultural exports; however, if they compared this figure with India’s export of over US$2.5bn and Vietnam’s export of US$3bn mainly from processed kernel, annually, it means Nigeria most definitely needs a well-articulated strategy to grow the cashew sector.
“We therefore cannot over emphasis why what we are doing here today is crucial.
“The main objective of the projects is to harness the abundant raw materials (RCN) and tap the skills of women in cashew processing. The pilot scheme which had success could be replicated by potential investors in other cashew producing states. Some investors have approached the council for possible collaboration in investing in cashew processing”, he added.
He noted that a recent study by USAID, an increase of 20 percent from Nigeria’s current products figure would create more than 344,000 new jobs and US$75, 875,000 additional incomes.
According to him, the stakeholders are fashioning out the cashew sector strategy would assist the council to develop a new implementation strategy that would grow the sector in line with the Transformation Agenda of the Government.
Police smash car-snatching syndicate in Enugu
By Francis Igata
ENUGU—Operatives of the Umunmba Division of the Nigeria Police Force, Enugu State Command, has smashed a notorious car snatching and vandalism syndicate for allegedly terrorising residents of the area in the early hours of October 7.
The hoodlums were arrested, following a tip-off from members of the public while they were dismantling a 608 Mercedez Benz mini-van at Umunmba bush.
Police Public Relations Officer, PPRO, Mr. Ebere Amaraizu, DSP, confirmed the incident in a statement.
ENUGU—Operatives of the Umunmba Division of the Nigeria Police Force, Enugu State Command, has smashed a notorious car snatching and vandalism syndicate for allegedly terrorising residents of the area in the early hours of October 7.
The hoodlums were arrested, following a tip-off from members of the public while they were dismantling a 608 Mercedez Benz mini-van at Umunmba bush.
Police Public Relations Officer, PPRO, Mr. Ebere Amaraizu, DSP, confirmed the incident in a statement.
NEPC targets N2bn from Obollo
The Nigerian Export Promotion Council (NEPC) has estimated that the cashew mini-processing factory it set up at Obollo-Afor in Eungu State can earn N2 billion foreign exchange for the country every year.Mr. Segun Awolowo, the Chief Executive Officer of NEPC disclosed during a cashew export promotion meeting organised by the Council in collaboration with United States Agency for International Development (USAID) and Nigeria Expanded Trade and Transport (NEXTT) in Lagos.
Commenting on cashew particularly, he said that in 2013, cashew exports generated N17.7 billion ($110m), which represents about 10 percent of agricultural exports; however, if they compared this figure with India’s export of over US$2.5bn and Vietnam’s export of US$3bn mainly from processed kernel, annually, it means Nigeria most definitely needs a well-articulated strategy to grow the cashew sector.
“We therefore cannot over emphasis why what we are doing here today is crucial.
“The main objective of the projects is to harness the abundant raw materials (RCN) and tap the skills of women in cashew processing. The pilot scheme which had success could be replicated by potential investors in other cashew producing states. Some investors have approached the council for possible collaboration in investing in cashew processing”, he added.
He noted that a recent study by USAID, an increase of 20 percent from Nigeria’s current products figure would create more than 344,000 new jobs and US$75, 875,000 additional incomes.
According to him, the stakeholders are fashioning out the cashew sector strategy would assist the council to develop a new implementation strategy that would grow the sector in line with the Transformation Agenda of the Government.
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