Federation of Agricultural Commodity Association of Nigeria (FACAN), is lobbying Federal Government to review export policy to accommodate cannabis

Nigeria’s New Telegraph newspaper is reporting……....There are indications that an agricultural group, Federation of Agricultural Commodity Association of Nigeria (FACAN), is lobbying the Federal Government to review its export policy to accommodate cannabis otherwise known as Indian hemp as one of the key agro commodities to enable Nigeria earn $100 billion annual revenue from non-oil sector of the economy.

This newspaper reliably gathered that the association was in crucial talks with the Presidency to reconsider cannabis as one of the over 52 agro commodities for export.

While confirming this move, the President, FACAN, Dr. Victor Iyama, explained that truly the association was discussing with the Federal Government to lift embargo on cannabis for export in order for the country to earn more foreign exchange from agriculture.

Iyama stated that FACAN had put up a position paper to the relevant authorities to look at the gains of cannabis since it is one of the globally accepted agro commodities for export and foreign exchange earner.

Go To FACAN Website

He described Indian hemp as a goldmine at the international market, saying that the country could not afford to keep destroying the agro commodity that can fetch her millions of dollars in revenue.

The FACAN president said despite abundant agro commodities in the country, the agricultural sector had not contributed meaningfully to economic growth since the advent of oil.

He said, “There are about 52 agro commodities that can earn the country about $100 billion annually. FACAN has put up a position paper to relevant authorities on how this can be achieved. Nigeria has no business with poverty. We are blessed with all agricultural commodities.

For instance, Indian hemp is a goldmine. We cannot have this million dollar commodity and be burning it. It is an agro commodity that takes only three months to cultivate and we will not wait until other countries overrun us on that anymore.”

Iyama said that exploring possible avenue to boosting agriculture would do the country good, adding that “It is about the most important part of the economy.”

“Yes, we have oil, solid minerals, ICT and other things, but we cannot drink oil or eat solid minerals and so, agro economy is the way to go,” he said.

In the same vein, renowned entertainer, Don Jazzy, also urged the Gederal Government to take advantage of cannabis for export, saying that global cannabis industry was projected to hit about $200 billion in earnings by 2030.

According to him, it is advisable for Nigeria to make hay while the sun shines.

He said: “From an economic stand point, I would advise government to see this as an opportunity for us to diversify our oil-dependent economy. Let’s imagine how much Nigerian states with arable lands can make from cannabis export if it is decriminalised.

“It won’t only help the economy but also create jobs for many Nigerian youths, adding to 64,389 jobs the cannabis industry created in 2018 as reported by Leafly and Whitney Economics.”

Besides, he noted that cannabis, which contains hundreds of compounds (cannabinoids), had a psychoactive compound called delta-9-tetrhydrocannabinol (delta9-THC).

According to him, THC is the lipid in cannabis, which gives the high sensation noticeable in the display of smokers.

He said: “One of the most important cannabinoids found in cannabis is cannabidiol, which can be supplied as CBD oil. CBD, which is a non-psychoactive compound in cannabis cures varieties of health problems like migraines, seizures, nausea, psychosis, epilepsy inflammation, cancer e.t.c.

“This isn’t to say that THC doesn’t also have its positive effects, which include increased appetite, pain relief, sleeping aid e.t.c; but abuse of it causes memory loss, coordination problems and can also induce schizophrenia.”

Source:  https://www.newtelegraphng.com/2019/11/export-group-mounts-pressure-on-fg-to-legalise-cannabis/

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