New Telegraph

‘Nigeria can save $1bn from egg importation ban’

Following the directive by President Muhammadu Buhari to the Central Bank of Nigeria (CBN) to stop issuance of foreign exchange (forex) for some selected agric produce to Nigerian importers, agric stakeholders have disclosed that the economy is on the verge of saving over $1 billion yearly if the Federal Government bans importation of egg powder (dehydrated and powdered eggs). Stakeholders under the umbrella of Poultry Association of Nigeria (PAN) charged government that egg powder business was a strategic segment that can contribute huge revenue in terms of earnings to the country’s gross domestic product (GDP) if the right environment is created. Speaking with this newspaper in Lagos on the move to ensure that government ban or impose additional duty on importation of egg powder, a former PAN national president and National President, All Farmers Association of Nigeria (AFAN), Kabir Ibrahim, explained that poultry farmers were ready to turn around the country’s economy post-COVID-19 by contributing their quota to the development of agriculture. Ibrahim noted that egg powder was rich in vitamins, minerals and is used in confectioneries such as ice-creams, cakes, cookies, noodles, doughnuts, feed mills and pharmaceutical industries.

It is also used in infant food formulae, fish meals, pet foods and cosmetics. In his own assertion, the Director of Operations, Answer Industry, an egg powder processor in Ijebu-Ode, Ogun State, Samuel Shewoniku, disclosed that of the two egg powder facilities in the country, only one is working, though below capacity, while the other one is still under construction in Ondo State. According to him, the first and only functional plant is located in Atoyo-Ijebu, Ijebu East Local Government, Ogun State, run by Answer Industries Limited. While the second egg powder facility, Greenfield Assets, located in Ondo State, is still under construction. He said: “Currently, we are not working up to the installed capacity, but we can still process about 50,000 eggs in a day.

This is close to one tonne per day depending on the size of the eggs. Though we have been trying to expand, but before we can do that, we must have a market for it.” It is believed that the frequent egg gluts in the country would be minimised if there are many companies producing egg powder and that production could trickle down to the poultry industry and propel greater investment in egg production. This, in turn, would increase job opportunities and alleviate poverty.

Read Previous

Featuring in Fela and the Kalakuta Queens showed me I’ve matured –Mawuyon

Read Next

Group hunts unqualified teachers In Nigerian schools

Leave a Reply

Your email address will not be published. Required fields are marked *