The President of the Manufacturers’ Association of Nigeria (MAN), Dr Frank Jacobs, has revealed that Nigeria spends N165 billion annually to import fruit juice.
In a paper entitled “Promoting Investments in Concentrate Production,’’ he said the situation resulted in an estimated loss of one billion dollars annually.
He presented this at a workshop organised by the Raw Materials Research and Development Council (RMRDC) in Owerri on Friday, the Vanguard reports.
Jacobs, represented by Mr Nwabueze Anyanwu, observed that Nigerian farmers also lost 60 per cent of their produce as a result of lack of processing facilities.
“Importation of concentrates has adversely affected local fruits cultivation for juice processing,’’ the MAN president said.
He also said that the continued dependence on massive importation of concentrates by industries was not healthy for the nation’s economy.
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