Nigeria To Host World Rubber Summit

As part of measures to revamp the rubber sector towards boosting the nation’s economy, the Ministry of Industries, Trade and Investment is to produce a Commodity Policy for Nigeria’s Rubber Sector.

The Minister of Industries, Trade and Investment, Dr. Doris Uzoka – Anite made this known in Abuja while inaugurating a Local Organizing Committee on the World Rubber Summit.

Dr. Uzoka – Anite who described the rubber sector as vital to national economic development stated that the move would also enhance the growth of the nation’s Non-oil sector, create job opportunities as well as industrialization in line with the renewed hope agenda of President Bola Tinubu’s administration.

“The development of the rubber value chain will resuscitate the country’s rubber industry thus impact the positive multiplier effect on the nation’s economy thereby creating jobs, increasing foreign exchange earnings and improving stakeholders standard of living” she stated.

According to her, to address challenges in the sector, there is need for concerted efforts from all relevant stakeholders through collaboration and synergy towards mobilizing resources, knowledge and expertise that would promote the upscaling of rubber production and value addition in line with global best practices.

“This is with a view to leverage on global demands for sustainable rubber products and exploit the considerable share in the global rubber market” the Minister said.

While thanking the International Rubber Study Group for the choice of Nigeria for the 2024 World Rubber Summit, Dr Uzoka – Anite advised the Committee to work in line with its terms of reference towards ensuring the success of the summit.

In a remark, the National President of National Rubber Producers, Processors and Marketers Association of Nigeria, Otunba Igbinosun Idowu Peter called for a National Rubber Policy and Strategies for ten years to revamp and attract investors into the sector.

Otunba Peter also stressed the need to provide necessary enabling environment and encourage investors with some wavers especially importation of equipment for production among others.

Also speaking, the Secretary General of International Rubber Study Group, Prof. Joseph Adelegan who described Nigeria as the highest producer of rubber in Africa called for sustainable rubber development programme for national economic development.

Prof. Adelegan therefore promised the Group’s technical support to developing Nigeria’s rubber industry.

By Mathew Ayoola, Edited By Grace Namiji