Group wants free duty on poultry equipment, 3% interest rate for investors
Aderemi Ojekunle is a Businessamlive Reporter.
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September 15, 2020473 views0 comments
The Poultry Association of Nigeria (PAN) has entreated the federal government to permit free duty charge on imported poultry equipment that are not produced locally and a reversal of the current practice where five per cent import duty is charged on all agricultural equipment brought into the country.
Ezekiel Mam, national president of PAN, suggested a reduction in the percentage of interest on borrowed loans, as one way to improve government policies and encourage the involvement of the private sector industry in the poultry sub-sector. He noted that a reduction of interest rate to three per cent would encourage active participation by the private sector.
According to Mam, the poultry industry in Nigeria has enough potential that could be harnessed to reposition Nigeria’s economy. He described the poultry industry in Nigeria as a key player in the agricultural value chain as the sector has a consumption rate of about 40 per cent of maize and 60 per cent of soybeans produced in the country. Mam further explained that being the major off-takers of rice bran, groundnut cake, wheat offal and other products, the association is determined to work towards increasing the per capita consumption of poultry products among Nigerians by 50 per cent.
He, thereafter, spoke on the importance of better agricultural policies in the country, further stressing on the necessity for increased funding, monitoring and evaluation of agricultural research institutes.
Mam also encouraged the federal government to maintain its policy on the total restriction of imported frozen poultry products and implement more stringent measures as a deterrent.