Bee Farming: Nigerian Envoy solicits foreign investment

A Nigerian Envoy, Ambassador Lot Egopija, Nigeria’s Consul-General in New York, United States, has called on foreign investors to maximize investment opportunities in Nigeria by investing in bee farming.

He made the call while speaking at the closing ceremony of the 2022 World Bee Conference, organized by the Nigeria-USA Chamber of Commerce in collaboration with the Collaborative Chambers Alliance in Cleveland, Ohio.

Egopija estimated Nigeria’s potential in bee farming to be over $10 billion annually, as against the current inflow of $4.5 million.

“Nigeria has the potential to become the largest producer of honey and manufacturer of honey products in Africa given its huge land size and lush vegetation.

“The Nigerian government is working on a medium to long-term development agenda to transit from an oil-based economy to a green economy, especially through agriculture.

“It is estimated that about 10 million Nigerian households consume an average of one litre of honey annually at the cost of 30 million dollars, half of which is imported.

“With the appropriate facilities and funds, large quantities of different grades of honey can be sourced locally and packaged for exports to reduce pressure on our foreign exchange for honey importation.

“As the largest economy in Africa and one of the most profitable investment destinations in the world for potential investors, business opportunities are abundant and are on the increase in Nigeria,’’ Egopija said.

The envoy also said that the Trade and Investment Desk of the Consulate-General was readily available to guide potential investors to fully maximize the benefits of the Federal Government’s visa-on-arrival policy, the pioneer status incentive, and the expanded tax holiday incentives, among others.

He pledged support for foreign investors willing to utilize the investment opportunities in Nigeria by investing in bee farming, noting that the Consulate-General was committed and determined to build lasting partnerships that would stimulate, sustain and deepen USA-Nigerian economic relations.

Source: Agro Nigeria