Philip Shaibu: Nigeria should focus on production to address FX crisis

Philip Shaibu, deputy governor of Edo state, says Nigeria has to become a production hub to address the prevailing economic and forex crisis. 

Shaibu said this during the inspection of the Tingo foods processing plant site in Onicha-Ugbo, Delta state.

“The only way for us to deal with the issue of forex is for us to be able to export and not just an importer of goods and services,” Shaibu said.

“Majority of these items that we import are found locally here and this company is a way forward in terms of processing.

“Farm is found unattractive because of the way people perceive farmers in Nigeria especially, small scale farmers. They see them as hungry and poor, whereas, elsewhere, farmers are the richest guys.

“Go to Texas, farmers are the richest guys.

“Now we have to attract younger ones by creating incentives to attract them and we should also be able to cluster these farms and get processing companies to follow in these clusters that we are looking at.

“This is a welcome development and a good thing for Delta state and I also want the Delta state government to give backing in terms of infrastructure.

“More companies like this springing up will help to deal with issues of food scarcity and also issues of production that we are currently not having in this country.”

Speaking earlier on the project, ⁠Dozy Mmobuosi, the chief executive officer (CEO) of Mmobuosi Holdings, owners of the Tingo foods processing plant, said the factory which occupies 40 hectares of land will create 12,000 direct jobs when it becomes operational in December this year.

“When 12,000 people are employed in a place, you know the indirect effects. We are going to deliver phase one in December while the final phase will be completed a year later,” Mmobuos said.

“We will be opening a rice mill in Niger state soon before it comes over here. We own a farm, a 3000-hectare farm and we are also in partnership with the Association of All Nigerian Farmers to get all the raw materials. We funded the rice season last year. If you look at food security, working with these farmers is extremely important.

He listed factories that will operate on the foods protecting plant to include rice mill, oil and margarine, noodles and spaghetti, tea and coffee, beer and bottling as well as chocolate and biscuits.