December 12, (THEWILL) –Â The national president of the National Association of Rubber Producers, Processors and Manufacturers Association of Nigeria (NARPPMAN), Prince Peter Igbinosun, has called for the establishment of “rubber cities” across Nigeria.
The NARPPMAN boss also wants a bulk purchase machinery/equipment agency to be created to facilitate the acquisition of tractors, implements, land development machinery, and equipment for rubber farmers.
He explained that these measures will boost availability, speed up processing time, and facilitate prompt disbursement of the export expansion grant to rubber-exporting companies.
Reeling out more of these policy options, Igbinosun, who is also the CEO of P-Man Integrated Services, said, “Rural development policies of the Federal, State and Local Government should be integrated to farm plantations to create the necessary infrastructures such as roads, bridges, electricity, and water.
“Research institutes should be well funded and allowed to get funding through private, public participation and should interact with both plantation farmers and processing companies to acquaint them with international standards and best practices,” he said.
On financing, he called on the Central Bank of Nigeria to set aside an intervention fund for the development of rubber plantations, rubber processing, and manufacturing. This fund should attract an interest rate of 3-5% per annum.
He recommended that a moratorium period of 3 to 4 years be allowed considering the gestation period of the rubber trees, which is six years with good agronomic practices.
“We would ask that the repayment period be spread over 10 to 15 years.”
The association also requested that a development bank be selected to handle the processing and disbursement of the fund to rubber farmers, processors, and other stakeholders
THEWILL Correspondent, Aniekan Bassey has over six years experience that spans across several fields in print journalism including development communication, sexual reproductive and health rights issues, crime, climate change, social justice, business and human interest stories.
