Flood scuttles Nigeria’s N54bn 2018 cassava revenue target

Nigeria’s quest to realise about N54 billion ($150 million) from two million tons of cassava this year as revenue has been threatened following the havoc caused by floods on cassava farmlands in the country, New Telegraph has learnt.

The cassava sub-sector is one of the key areas where Nigeria can realise about N20 trillion as revenue if harnessed because of cassava multi-purpose usage, which cuts across different sectors of the economy, including oil and gas, health care services, industries, foods and beverage, among others.

However, there are indications that the ravaging floods that destroyed many cassava farmlands in the country due to heavy downpour this year, is already stifling the industrial demand for the crop by companies in the foods and beverage industry because of the importance role being played by raw cassava in the manufacturing of beer products.

Indeed, it was learnt that the two million tonnage of cassava expected to generate the N54 billion national revenue target would be produced to meet industrial demands in this farming season, but the flood invasion of most of the cassava farmlands in the country is making make the reality of the revenue projection target a mirage.

New Telegraph, November 16, 2018

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