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Oil Seeds Processors Association of Nigeria (OSPAN) an umbrella body of processors of oil seeds in Nigeria has disclosed that its USD 250 million Oil Seeds investment is being threatened by exports of soya beans.

The President, Sama’ila Maigoro, and the Vice President Mr. Hule Idyerkas, respectively, said in a press release that, export of Soya beans should be banned from Nigeria to encourage value addition.

He said if processed, the Crude soya oil would be further processed for local consumption which will in turn stabilisers the price of Vegetable oil locally.

“Our members are investors in large, medium and small-scale processing of Nigerian grown Arable Oil Seeds into high quality edible vegetable oil and high-quality oil extracts for industrial use. Presently our combined installed capacity per annum is well over three (3) million metric tons with a total investment portfolio of about USD 250 million”.