GINGER, SHEA BUTTER POTENTIAL REVENUE EARNER FOR NIGERIA, SAYS REPORT

A new report from African International Trade & Commerce has identified Nigerian-grown ginger and shea butter as potential Geographical Indications (GIs) products, which could immensely contribute towards realising the Federal government’s diversification objectives.

The report titled, “Value Chain Analysis of Nigeria Ginger and Shea Butter as Potential Geographical Indications (GIs) Products under the Zero-Oil Plan of the Government of Nigeria,” was released by the Africa International Trade and Commerce Research (AITCR) in partnership with Nigerian Export Promotion Council (NEPC).

According to the study, both products have “significant market potential in various international markets, such as Europe, the United States, and Asia” and urged the federal government and relevant stakeholders to pay particular attention considering the enormous economic opportunities in the value-chains.

Speaking at the unveiling/validation workshop on market access and value-chain analysis for the products for non-oil Executive Director/Chief Executive, NEPC, Dr. Ezra Yakusak, commended the AITCR for the effort adding that the outcome would boost the diversification agenda of the Federal Government. He said registering Nigeria’s ginger and shea butter under the GIs system would safeguard these unique Nigerian traditional products against imitation and misuse as well as increase their value in international markets.

Specifically, the NEPC boss said the initiative would offer opportunities for smallholder farmers and rural communities engaged in producing these goods to access better prices and earn more income. Represented by NEPC Deputy Director, Policy and Strategy Department, Mr. Ben Anani, Yakusak said the validation of the results marked the process towards creating a legal framework to provide legal protection to Nigeria GI products to boost exports and promote the income and livelihoods of producers in the country.

However, in his presentation, Executive Director of AITCR, Mr. Sand Mba-Kalu, said the report provided valuable insights into the potential of Nigeria’s ginger and shea butter as GI products.

He said the study would assist stakeholders in devising strategies to improve these products’ value chains and market access, adding that AITCR remained committed to supporting the development of the products and promoting their export to international markets as part of the zero-oil plan.

https://guardian.ng/business-services/ginger-shea-butter-potential-revenue-earner-for-nigeria-says-report/

 

 

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