From Oluseye Ojo, Ibadan
The Nigerian economy is expected to experience a significant boost with increased support for Micro Small and Medium Enterprises (MSMEs).
This is the submission of experts, who gathered at a news conference hosted by the Nigeria Union of Journalists (NUJ), Oyo State Council, at the Press Centre, Iyaganku, Ibadan, ahead of the first International Foods, Beverages, Drugs Fair and Exhibition scheduled for October, this year.
The conference is being put together by University of Ibadan(UI) Ventures Limited and 1st A-Z Exhibition, and has been organised to bring together manufacturers, government, and financial support institutions in the pharmaceutical, food, and beverage sectors.
According to the experts, the Nigerian supply chain for food and vegetables outstrips that of other countries, and the industry is ripe for innovation and growth, if given the required financial support from both government and investors.
Several international development agencies, agricultural, and research institutions are expected to attend the first-of-its-kind event, which will take place from October 16 to 22, 2023.
The event is expected to showcase up-to-date successes, and discuss new ideologies for progress and development in these three key industries. The conference, according to the organisers, would create a strong link among academic research, local and foreign innovation, and production skills for increased yield.
The Acting Managing Director of UI Ventures Limited, Mr. Francis Akingbade, said that the fair would offer vast employment opportunities in the three key sectors, and provide a platform for professional advertisers, related allied industries, and all related companies and traders, adding that the event was aimed at bringing together government, manufacturers from the three sectors and financial support institutions.
His words: “The conference will be an assemblage of pharmaceutical companies, food producing and processing companies as well as beverage companies. The event will, in all, highlight the progress that has been recorded in these sectoral industries and proffer new ideologies for their overall progress and development.
Akingbade said that the event would create a link between research works, local and foreign innovation as well as full-fledged production skills for increased yield. He said that it would also explore the untapped vast employment opportunities in the three key sectors as well as food processing and allied arts.
Prof. Kolawole Falade from Department of Food Technology, University of Ibadan(UI), said that the country has huge potentials for average entrepreneur to grow the economy if given necessary support, adding that the supply chain of food and vegetables in Nigeria has been very strong, if compared to other countries.
An analyst and teacher on counterfeit substandard products, Dr. Olayemi Adegbolagun, of the Department of Pharmaceutical Chemistry, UI, noted that the qualities of some imported drugs can’t match those of some locally produced drugs. According to her she uses locally produced drugs more than imported ones. She stated further that lots of herbal products have prospects for development in the country, but could not be harnessed due to lack of support.
Adegbolagun, who appreciated National Agency for Food Drugs Administration and Control (NAFDAC) for the excellent job being done in the nation, made a case for support from government for local pharmaceutical industries to serve the nation’s health sector perfectly.
“Today, we have our bitter and Ugwu leaves been packaged abroad into capsules, and sold back to us. Government should assist our industries. Nigerians should also play their roles effectively,” she said.
A former General Manager, Nigerian Bottling Company(NBC), Prince Oluwarotimi Kolajo, identified so much potentials in food and drugs industry, and was optimistic that Nigerian economy would witness positive turnaround if government has the will to support MSMEs.
His words: “What is wrong with Nigeria in terms of growing businesses? Unfriendly policies that require you to donate your arm and legs to run a company for two years. Government should create friendly policies for businesses to thrive. The success of the economy is not in the hands of government alone. Nigerians shouldn’t wait for government in the area of financing. They can seek finance from private investors. The future is agriculture.
