Majestic Farms Boss Lauds Buhari’s No Forex for Food Policy

  • Rolls out massive agric investment initiative•

The management of Majestic Farms and Food Processing Co. Ltd has hailed the recent presidential order barring the Central Bank of Nigeria (CBN) from selling foreign exchange to importers of food.

In a recent media parley with reporters in Lagos, Mr. Al Humphrey Onyanabo, Chief Executive Officer of the company said the order was bold and commendable with favourable, far-reaching consequences for the Nigerian economy,

In a statement by Hope Ibinabobo, Media Relations Officer Majestic Farms and Food Processing Co. Ltd, Onyanabo stated that, “Nigeria has become the dumping ground for all manner of ridiculous food products from all over the world. People now set up production facilities overseas targeting the Nigerian market and in six months they will recover their investment and turn a healthy profit”.

He revealed that Nigerians imported such finished products as Chilli pepper, ginger powder, turmeric, garlic and cinnamon all of which are grown abundantly in Nigeria, but without adequate processing, packaging and storage know how. Most of these spices he said go out of Nigeria as raw materials and come back as finished products costing ten times more.

Onyanabo added: “I am pushing for a total ban of most of these food products. All Nigerian companies need is to buy patents and see transfer of technology. Our economy bleeds daily because of these frivolous food imports that would rather provide jobs locally for our people’.

He further revealed that his company, Majestic Farms is encouraged to upwardly review its massive agricultural investment and industrial development plan because of the favourable  policies of the Buhari administration.

“Nigeria needs to take a quantum leap in food production to provide food security for our people. What Majestic Farms brings to the table is a comprehensive agricultural investment initiative that will prosper our various stakeholders and Nigeria exponentially,” he said.

Onyanabo believes that Nigeria needs to make a quantum leap into food production in order to provide food security for it’s over 200 million plus population.

“Majestic Farms and Food Processing Co ltd in tandem with its funding partners is concluding plans and will soon start ground breaking on our integrated state of the art farms that comprise the following: a 20 million capacity broiler section in four regions, a one million capacity broiler farm in four regions, 300,000 capacity turkey farm,250,000 capacity duck farm, 100,000 capacity cow ranch and dairy, 200,000 pig farm in two regions, combined 5,000 metric tons a year out door fish and shrimp section.

“Others are a 200,000 capacity rabbit farm, 500 acre orchid to grow organic apples, grapes, banana, pineapples, mangoes. We will also build 10,000 metric tons inert grain silos in four regions to enhance food storage and reduce wastage. Our start off states are Rivers, Lagos, Ogun, Oyo and Delta States gradually we will spread.”

He added, “we are also setting up Majestic Farm Shops in every local government area, where we will sell Majestic branded home grown foods such as tomato paste, tea, coffee, cereals, infant formula, puffy snacks, rice, garri, poundo yam, elubo, tuwo, spices, cereals, pasta, vegetable oil, juices, tomato paste, sweet corn, our crop yield, processing, storage and production. We also look forward to working with Alhaji Mohammed Sabo Nanono, the new minister for Agriculture’

Nigeria, Mr. Onyanabo revealed is at the threshold of a gigantic agricultural and industrial development that is unprecedented in Africa.

‘We realise that pivotal to our success will be access to adequate machinery and its maintenance. Our policy is to initially import processing machines and have our home grown engineers study, improve and expand on their production capacity. We will have our own fabrication facilities which can be accessed by other small scale business owners as well,” he said.




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