By Akpan David, Calabar
Natural rubber farmers have lamented that commercial banks in Nigeria are distancing themselves from them because of the long gestation period of the economic tree.
Mr Peter Igbinosun, national chairman of National Rubber Producers, Processors and Marketers Association of Nigeria (NARPPMAN) spoke to journalists, explaining that commercial banks are refusing to give loans to rubber farmers.
As a result, many rubber plantations can not be regenerated or the older ones nurtured.
Igbinosun called the federal government to protect rubber farmers to avert continued slide of that subsector.
He also called for enactment of a national policy on natural rubber and for banks to partner with them in credit facilities.
Igbinosun said, “We want government’s intervention and a national rubber policy on rubber plantation and development. It will give investors the direction to go and information about rubber production. This will revive rubber production in Nigeria.
“We want federal government to also come up with a policy through the Central Bank of Nigeria to fund long gestation crops like rubber.
“This intervention in rubber production is crucial because commercial banks are not willing to fund plantation development or put their money in an investment where they have to wait for seven years before recouping.”
According to Igbinosun, lack of national policy on production on rubber and non intervention were crippling the subsector and its value chain in Nigeria.
Igbinosun expressed worry that following the decline in rubber production Nigeria is now a market for other African countries to sell their rubber and its allied products.
“This is because we are not encouraging our players in rubber value chain to compete with them favourably.
“We want the state government to initiate state rubber policy and development as well as provide land for rubber plantation and its value chain.”
Igbinosun who also identified lack of data base for agricultural crops including rubbers as a major challenge in Nigeria, noted that it helps to put strategies and policy in place for investors to look at and know how to come in for intervention.
He said past government inaugurated a technical committee to revamp the moribund rubber sector and industries in Nigeria but for over three years nothing has been heard about that policy.
The rubber boss recommended that government should promulgate the national rubber policy, revive rubber board, encourage the player through subsidy and planting materials.
Igbinosun said farmers want to see the “renewed hope agenda” in rubber value chain, calling on the governments at all levels to encourage rubber production and its value chain.
Comments are closed, but trackbacks and pingbacks are open.