FG INAUGURATES COMMITTEE TO RESUSCITATE NATURAL RUBBER PRODUCTION
The Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo has inaugurated a technical committee for the resuscitation of rubber plantation and products in line with International best practices.
The 11-man committee inaugurated today in Abuja is expected to collaborate with states’ governments to promote rubber plantations and secure funding strategies suitable for planting of rubber trees ready for tapping between six and seven years.
It also has the task to develop a road map and policy guidelines that will bring back local tyre manufacturing and a framework to secure government’s funding for the industry.
The minister who gave his assurance of federal government’s commitment towards the resuscitation of rubber industry, expressed confidence that states’ governments will support the industry, show prompt and timely implementation of the project.
He requested the committee to set up subcommittees that will address some specific issues concerning rubber plantations, tyre industry, proper processing and financing.
Speaking, the President of National Rubber Producers, Processors and Marketers Association of Nigeria (NARPPMAN), Prince Peter Igbinosun commended the minister for introducing NARPPMAN to state governments, adding that their collaboration in developing the rubber sub-sector in their states is yielding results.
He described rubber as a top economically viable commodity that has good returns on investment, high volumes of by-products, creates employment opportunities at the various levels of its value chain, produces billions of tons of oxygen, environmentally friendly, bio- degradable and non-perishable.
He said that he looks forward to a vibrant committee that will develop at least a 10-year rubber development policy that will encourage investments, especially raw materials for industrial growth and development.
“Rubber production is capital intensive, labour intensive, land intensive and requires special skills in production, recommending a special package for developing long gestation crops like rubber by the Central Bank of Nigeria should be one of the responsibilities of this committee,’’ he said.
