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Investigations have revealed that, the Federal Government of Nigeria has lost about N576 million to the Government of United State over the persistent ban on exporting Nigeria’s smoked catfish and all fish products to the US.
Findings by PLATFORM TIMES showed that, Nigeria exports about 100 metric tonnes of catfish to the US, Canada and Europe on yearly basis.
However, the country had lost N576 million on export of catfish within the period the Federal Government claimed, support for agriculture and making the sector the largest foreign exchange earner is its major concern.
An average price of catfish exported to the United State is $16 per kg. 1,000kg is equivalent to a tonner; therefore 1,000 kg multipled by 100 tonnes gives 100,000 kg.
To get the value in monetary terms,we multipled $16 by 100,000 kg, which is equal to $1.6 million ( N576m ).
The President, Catfish and Allied Fish Farmers Association of Nigeria, Oloye Rotimi Olibale said, The development has affected catfish production, adding that the country is losing a lot of revenue since the ban was enforced.
“Lot of fish farmers took loans from deposit money banks to invest in processing in order to take up opportunity in export but now with ban since a year ago, most of them are unable to meet their laon obligations, ” Olibale said.
“The ban is killing fish Industry in the country and is a big threat to the federal Government’s diversification drive through the sector.
“The government should be blamed for not taking prompt action in addressing the issue and ensuring that the ban is lifted within the shortest possible time” he said.
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