Minister of State for Industry, Trade
and Investment, Hajiah Aisha Abubakar
has said that harnessing the production
of Shea Butter in the country would
go a long way to boost employment
generation, alleviate poverty, create
wealth, sustain the environment and
attract foreign investment.
Abubakar, who stated this while
briefing journalists recently in Abuja,
noted that Nigeria would benefit
immensely from the Shea Industry if the
informal sector was properly harnessed.
The minister said, “Nigeria accounts
for about 57 per cent of the world Shea
nut production of which the global
Shea market for chocolate value is
approximately 117 billion dollars while
that of the cosmetics industry stands at 2
billion dollars”.
“The 2018 conference no doubt explores
the meaning of an African proverb that
states “if you want to ‘go quickly, go
alone; if you want to go far, go together,”
Abubakar said.
“The country would be on the right
path to diversifying its economy through
strategic focus on the commodity’s
export business.
According to her, “Shea butter has the
potential to eradicate poverty, improve
rural economies and also provide
richness to our teeming youths”.
She said the ministry was partnering
collaboration, she said that the ministry
with the National Cotton Association
of Nigeria NCA,and the Ministry
Agriculture to organise the 16th annual
International African Cotton Congress.
According to her, the scheme is aimed
at franchising scalable local businesses
that have proven their mantle to other
countries.
The Managing Consultant, Franchise
Business Development Services Limited
(FBDS), Mr Chiagozie Nwizu, said that
all over the world, businesses were
leveraging on the opportunity provided
by franchise.
Nwizu said the essence was to build
and expand brands, adding that Nigeria
cannot be an exception.
He said that the venture would help
enhance the economy through local
production and by extension, the GDP.
“Countries like India, South Africa and
the United States have had success stories
and we feel that we can benchmark and
replicate same for Nigerian businesses.
“Majority of foreign businesses in
Nigeria today are franchised and we
think that we can leverage successful
businesses in Nigeria just like we have
the likes of Shoprite, Donmino Pizzas,
and so on,” Nwizu said.
Responding, the minister pledged the
ministry’s support and enthusiasm for
promotion of Made in Nigeria products.
She said that there was need for the
National Assembly to hasten the passage
of the franchise bill that had scaled
through the second reading to provide
the legal framework for the scheme.
Abubakar said the theme for the 2018
Shea will focused on “Going Further
Together” .

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