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By PATRICK ABANG, Calabar - Against the backdrop of persistent denials by Central Bank of Nigeria and other financial institutions to grant credit facilities to natural rubber farmers in the country, the National Rubber Producers, Processors and marketers Association of Nigeria, NARPPMAN, has devised another way to raise funds to invest in the sub-sector. National
There are strong indications that natural rubber may soon be relegated from its number one prime position as an export commodity which earns foreign
Mr Igbinosun said, “Our association has been blocked from accessing authorities at the apex bank. We have applied for funds to resuscitate the dying natural rubber subsector but we are continually told that rubber is not the priority of the federal government. This is painful and tiresome. “They said because rubber has a very long gestation period, therefore they have no funds to appropriate except for rice and other immediate economic crops that yield early enough.” Igbinosun explained that rubber was so useful across households and businesses. He said, “The health institutions depen...