Nigeria’s ginger market value to hit $6.29bn by 2030 –FG
Nigeria’s ginger market value to hit $6.29bn by 2030 –FG
The Federal Government has estimated that the country’s ginger market value would hit $6.29 billion by 2030, surpassing the $4.16 billion recorded in 2023.
Minister of State for Agriculture and Food Security, Abdullahi Sabi, stated this at the inauguration of the Presidential Committee on Ginger Crop Transformation, yesterday in Abuja.
Sabi, who regretted the outbreak of fungi pathogens infection in Kaduna State, said the country lost over N20 billion to the disease.
“Nigeria’s ginger is not just any ginger. Its taste and potency are truly unrivalled. The quality has long been cherished here at home.
“But now the world has finally taken notice. The international market demand for ginger is surging, driven by its increasing popularity for its health and culinary benefits with a market value that is expected to reach $6.29 billion by 2030 off from $4.16 Billion in 2023.
“Nigeria’s ginger presents a phenomenal opportunity for our nation’s economic growth, especially now that we are focusing on a renewed focus of President Bola Tinubu.
“The blight has caused loss of lives and affected countless hardworking farmers, but also Nigeria’s position as the world’s second largest ginger producer.
“Our preliminary estimates suggested that affected farmers in Southern Kaduna lost over N20 billion highlighting the significant financial losses.
“Furthermore, considering that over 85% of Nigeria’s ginger cultivation occurs in this region, we can safely assume a substantial loss of cultivated land, potentially exceeding 70% of total land.”
He, however, assured farmers that amidst the rough patch, there was hope, as Federal Government would address issues as the occur and, also, take precautionary measures.
“We are therefore committed to supporting them actively and exploring every ways to prevent future outbreaks.
“This commitment is not without action, therefore, allowed Mr President’s directives to explore every avenue to mitigating the impact of the outbreak, especially with the view to revitalize the ginger sub sector.
“There is need to sustainably stimulate the livelihoods of the affected farmers forestall future occurrences,” he said.
While designating the responsibility, he said: “the technical research committee, that is one of the committees will be dedicated to understanding the disease and developing control measures to mitigate future occurrence, while, also, ensuring that we revive or restore back our germ plasm.
“The emergency recovery committee will be focused on supporting farmers impacted by the failed season that are just gone.
“The four committee which is the marketing and industry committee will be working to bridge the gap between Nigeria’s ginger and the local or global markets.
The Sun, 26th Mar 2024
