Overcoming the problems facing cassava processing industry in Nigeria

Abstract

This paper takes a look at overcoming the problems faced by processors of cassava in Nigeria and how important the processing of cassava is to the Nigerian economy. The importance of the cassava processing industry cannot be overemphasized. Apart from providing food security, provision of employment opportunities for the ever-teeming population, it serves as a foreign exchange earner to boost the economy and provide raw materials for industries such as textile, pharmaceutical and alcohol. The roots and leaves of cassava are also source of medicine, it is also used in the production of biofuel. The paper also looked at the myriad of problems associated with the processing operations and delved into the challenges of the cassava processing industry which includes: a lack of basic infrastructural facilities, lack of access to finance the industry, excessive cost of processing equipment, poor market accessibility and limited government support. The paper proffers solutions as ways forward in taking the cassava processing industry in Nigeria to the next level.

Preface to Volume 6, Issue 1 of Financial Statistical Journal

“…For example, Adetunji and Quadri [4] stated that cassava is Nigeria's most crucial food crop because it is a foreign exchange earner, a high-yielding cash crop, and a crop for world food security and industrialization. Abiodun et al [5] looked at overcoming the problems cassava processors face in Nigeria and how necessary cassava processing is to the Nigerian economy. Martin and Carraro [6] studied the impact of COVID-19 on the economic and financial outcomes of several companies' canned foods, sauces, and condiments sectors.…”