FG to process agric raw materials for export in 2014

Olusegun Aganga, the minister for industry, trade and investment, weekend said that the Federal Government’s main focus in 2014 was to process the country’s agriculture raw materials for export.

Aganga told the News Agency of Nigeria (NAN) in Abuja that Nigeria had the capacity to process her agro-allied raw materials for export.shores will save a lot of foreign exchange for us.

“As a nation, we will be devaluing our potential if we continue to buy our own raw commodities from other nations that have the technology to convert primary goods to secondary products.

“Internal value addition will reduce the bulk export of our raw materials, which are processed and then sold back to us at exorbitant prices,’’ he said.

Aganga noted that the ability to process raw materials internally would boost Nigeria’s foreign exchange earnings, while reducing capital flight.

He said that the Federal Government would initiate investments to achieve results in its One Local Government, One Product Programme (OLOP) initiative in 2014.

The minister said that the initiative was also intended to stimulate grassroots participation in the country’s trade and investment activities.