Nigeria to earn $2 billion from seeds export in five years
By Abimbola Abdullahi
Nigeria is expected to move from generating zero dollar from seeds export to generating over $2 billion from seeds export within the first five years, if the new Plant Variety Protection (PVP) bill signed into law by President Muhammadu Buhari is fully implemented, the Nigerian Economic Summit Group (NESG) has said.
The group applauded President Buhari for signing the PVP Bill into law on May 21st, 2021.
NESG, in a statement by the Head, Corporate Communications, NESG, Yinka Iyinolakan, said the passage of the bill into law and its implementation would give plant breeders intellectual property over a new plant variety, with exclusive rights to commercialise seed and propagation material of the variety.
“The PVP also promotes marketing of new varieties and allows breeders to earn back the considerable costs involved in the long process of variety development.
“Furthermore, a well-functioning Plant Variety Protection (PVP) system will encourage in-country breeding activities; this will also attract foreign companies to introduce high quality of improved varieties, knowing that others cannot easily copy their effort or take advantage of it,” NESG explained.
NESG, however, implored the government, the seeds industry, all players in the food and agricultural seeds ecosystem, trade and investment, science and digital innovation, sustainability and all stakeholders to ensure the implementation guidelines are properly set and act speedily to ensure that critical aspects of the bill are effectively implemented.
It expressed optimism that the measures set out in the PVP Act would create a more appropriate system that meets today’s realities, improve the business environment and general agricultural performance across the economy.
It pledged its continued partnership with stakeholders in the agricultural ecosystem and other sectors to implement the PVP Act and ensure it is beneficial to plant breeders, smallholder farmers and every stakeholder in the Nigerian agricultural ecosystem.
