By Akinnodi Francis, Ondo

The Raw Materials Research and Development Council (RMRDC) has stressed the need to raise awareness on the economic and industrial potentials of plantain, describing it as a valuable raw material and a viable source of income generation.

Director-General of the council, Mr. Nnanyelugo Ike-Muonso, made this known while speaking on a national television programme monitored by Weekend Hope newspaper.

He urged Small and Medium Enterprises (SMEs) across the country to tap into the vast opportunities within the plantain value chain to boost revenue and enhance national food security.

According to him, if properly harnessed, plantain could generate substantial foreign exchange and significantly support President Bola Tinubu’s Agricultural Transformation Agenda.

“Several states in Nigeria are richly blessed with agricultural raw materials, including plantain, which is cultivated in large quantities,” he said.

Ike-Muonso noted that plantain has remained a reliable raw material, adding that the RMRDC has over the years implemented various innovative programmes to actualise its mandate in promoting the development of raw materials.

He maintained that the growth of SMEs could drive a more equitable distribution of wealth and investment opportunities, ultimately diversifying the nation’s economy from crude oil dependency, creating jobs, fostering economic growth, reducing poverty and ensuring shared prosperity.

“Plantain is not only of immense nutritional value, it also has significant industrial applications, which makes it highly sought after,” he added.

Citing statistics, he revealed that Africa’s total plantain production stood at 30.08 million tonnes in 2022, with Nigeria accounting for 3.1 million tonnes, mostly consumed locally either processed or unprocessed.

Despite the high demand and considerable volume of production, the DG lamented that plantain farming and processing remain largely at a rudimentary stage, thereby limiting its full revenue potential.

He, therefore, called for greater investment in the sector to fully harness its economic value and contribute meaningfully to the Federal Government’s food security initiatives.

Speaking in a similar vein, a plantain farmer based in Ondo State, Mr. Adebayo Ojo, highlighted the untapped investment opportunities within the plantain value chain.

He urged SMEs in the state to explore these prospects as a pathway to wealth creation and economic diversification.