Nigeria Lacks Huge Capacity in Seed Production’

Gilbert Ekugbe
The Divisional Head, Agribusiness, Natural Resources and Project Development, Heritage Bank Plc., Mr. Olugbenga Awe, has stated that it is working with 30 seed companies to boost seed production in Nigeria.

According to Awe, the fact that the federal government, through the Central Bank of Nigeria (CBN), imported 140,000 metric tonnes of seeds from Mexico at a staggering amount was an indication of the huge gap in the nation’s seed space.

He added that its seed multiplication exercise is aimed at making Nigeria self-sufficient in seed production.
Awe said: “Going forward, what we are trying to achieve from the seed multiplication exercise is for us to be self-sufficient in seed production and stop importation of seeds.

“As a bank, we are working with the CBN, the Lake Chad Research Institute (LCRI), and a couple of seed companies to multiply seeds. Our farmers can now be buying seeds from local seed companies in Nigeria as this would reduce pressure on Nigeria’s foreign exchange market.”

He highlighted the need to sustain the initiative by bringing the scheme to the Lagos Commodities and Future Exchange (LCFE).
“We will replicate this initiative in maize, rice and cocoa. We are taking this programmes seriously because we believe the future is bright if we continue in this path that we have taken,” he said.

Earlier, the Managing Director of LCFE, Mr. Akin Akeredolu-Ale, said the volume of seeds that would come out of the programme would create enough seeds in the ecosystem and stop the importation of seeds into the country.