A group of investors are targeting export of Rhodes grass estimated at $55m to the United Arab Emirates (UAE) this year.
The team is led by the Commodities Development Initiative
(CDI) which has signed Memorandum of Understanding (MoU) with the Federal
Ministry of Agriculture and Food Security to
commercially develop Nigeria’s livestock and pasture industries for
export markets.
This was one of the highlights of Agric Summit Africa x
AU-IBAR Investment Webinar held virtually which drew participation from
Nigeria, India and Kenya.
The event was organised by African Union InterAfrican Bureau
for Animal Resources, Federal Ministry
of Agriculture and Food Security, Sterling Bank and other partners.
Rhodes grass is high quality forage for livestock producers
in the Middle East. It is highly valued as a feed option for livestock,
particularly for grazing and hay production.
CDI is implementing Made in Nigeria for Export (MINEx) which
seeks to expand selected Nigeria’s export products by 15 per cent annually till
2030 and contribute to achieving the Federal Government $1 trillion gross
domestic product (GDP) target.
The Managing Director Commodity Development Initiative
(CDI), Mr Roland Oroh, said the target is to achieve $505.6 million by
2029 taking a large share of the Middle
East Pasture Hay Market.
According to him, the group has secured an order for 240,000
metric tonnes of Rhodes grass to UAE Market, as well as six per cent of the Middle East Market.
He mentioned other top exporters of the Pasture hay to the
Middle East to include Egypt, UAE, Turkey.
He explained that the rising price of feed concentrates is
affecting commercial livestock markets around the world, urging Nigerians to
take advantage of this to invest in Rhodes grass to support producers in the Middle East involved in
commercial livestock production who
require affordable feed.
Speaking during the forum,
Group Head, Agric Finance & Solid Minerals Group at Sterling Bank
Plc, Olushola Obikanye said the
bank was ready to propel large and small and medium-scale
enterprise (SME) operators in the livestock feed and fodder sector into the realm of scaleable exports.
Obikanye underscored Nigeria’s need to ensure that
domestically produced feeds secure
access to well-structured markets both domestically and internationally.
He highlighted the
need to ensure sustainable feed and fodder production for the development of
the livestock sector.
He also stressed the
need for a strong partnership e for feed and fodder production through optimum
utilisation of available land and the promotion of value-added fodder
technologies.