CBN woos stakeholders on framework for modern Cassava production

The Central Bank of Nigeria (CBN) is seeking for new approaches to bring all stakeholders together and agree on a framework for modern production and processing of cassava by ensuring that all major challenges in the value chain are identified and tackled. The value chain according to the apex bank ranges from seedlings production, land clearing, planting, harvesting, processing, marketing to provision of extension services among others.

Mr Godwin Emefiele, the governor of CBN, said Nigeria imports cassava derivatives valued at about 600 million dollars annually.

Emefiele disclosed this at a meeting with governors of cassava-producing states in Abuja last week.

CBN also signed Memorandum of Understanding with Nigeria Cassava Growers Association and Large Scale Cassava Processors at the event. Emefiele explained that the country was blessed with several varieties of cassava that could be explored to optimum potential.

He, however, pointed out that there was a need to adopt improved varieties and practices that would guarantee better yield, better processing efficiency, increased profit and improved standard of living for the farmers. “In achieving this goal, we are holding consultations with the International Institute for Tropical Agriculture, Ibadan and the National Root Crops Research Institute, Umudike.

“Apart from foreign exchange conservation, increasing cassava production is a necessity as starch, glucose, sorbitol and other products are currently being imported.

“Statistics show that out of the 53.0 million metric tons of cassava produced in Nigeria annually, more than 90 per cent is processed into food for human consumption, whereas a significant industrial demand exists for the output of processed cassava, primarily as substitutes, for imported raw materials and semi-finished products.

“Potential demand that exists in our cassava value chain demand High-Quality Cassava Flour (HQCF) in bread, biscuits and snacks is above 500,000 tons, annually, while supply is below 15,000 tons.

“Demand for cassava starch is above 300,000 tons annually while supply is below 10,000 tons”, he explained.

According to him, the demand for cassava-based constituents in sugar syrup is above 350,000 tons annually while supply is almost nonexistent.

He added that potential demand for ethanol in the country as a fuel for cooking, to power vehicles (E10), and other industrial uses exceeded one billion litres, while production was nearly zero.

According to him, towards consolidating on the gains of our earlier efforts, «we will be witnessing the signing of a Memorandum of Understanding between; Nigeria Cassava Growers Association and Large Scale Cassava Processors to guarantee steady off-take and processing of cassava in Nigeria going forward.

«We believe that these steps which we are embarking on today, will not only

resuscitate this vital sector, but it will also help support our efforts towards creating jobs for a large number of Nigerians,» the governor stated.