Nigeria’s agrochemical market worth N18bn — FG
The Director General of the National Research Institute for Chemical Technology (NARICT), Zaria, Professor Jeffrey Barminas, has said there is N18 billion annual market for agrochemical alone in Nigeria. Prof Barminas, who said this yesterday in Abuja at the ongoing Science, Technology and Innovation (STI) expo, noted that chemical technology was crucial to socio-economic development, […]
Director General of the National Research Institute for Chemical Technology (NARICT), Zaria, Professor Jeffrey Barminas
The Director General of the National Research Institute for Chemical Technology (NARICT), Zaria, Professor Jeffrey Barminas, has said there is N18 billion annual market for agrochemical alone in Nigeria.
Prof Barminas, who said this yesterday in Abuja at the ongoing Science, Technology and Innovation (STI) expo, noted that chemical technology was crucial to socio-economic development, explaining that the place of chemical technology was such that harnessing it would generate economic and societal benefits for Nigeria.
He said, “Our strength and visibility in the development of indigenous technologies in the chemical sector is an asset that will create jobs and import substitution. It would also attract significant inward investment in areas such as agro-processing, light manufacturing, energy, environment, health, among others.”
He also said the STI expo was an investors’ forum that provided discussions on how best to deliver sustainable long-term growth for the chemical industry in the country.
The NARICT boss further said the institute was mandated to develop new strategies for designing, producing and using safer chemicals to minimise risks and prevent pollution and that it was making giant strides in achieving the mandate.
He said, “The Nigerian chemical industry is a vibrant one and is expected to grow rapidly, with the federal government’s focus moving away from the dominant oil industry, there is an estimated $120m or N18bn annual market for agrochemical alone in Nigeria.
“Globally, chemicals have long been integral part of any economy and provide key building blocks for the many products that benefit the society.”