The Oil seeds Processors Association of Nigeria (OSPAN), has called on the Federal Government to ban Soya Seeds export for economic stability.
The group made the call in Kaduna recently, citing reasons including the adverse effects on the economy.
The group wants government to place a ban on the exportation of soya seeds to allow the commodity be utilized indigenously by local industries to boost their capacity utilization and output, thereby improving their contribution to GDP.
The business membership organisation shares what it describes as alarming statistics on the country’s low soya beans output at the moment.
The data shows that Nigeria yields a mere 1.7 tons per hectare compared to other countries with up to 5 tons per hectare.
The result of this, is a substantial shortfall in meeting local demand , worsened by the influx of foreign investors who profit from exporting the nation’s limited soya beans stock.
The oil seeds processors also urge the federal government to implement measures that will at increase local production.
These include areas such as providing essential support to farmers to enhance their yield per hectare.