• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Wednesday, June 4, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

Nigeria inaugurates technical to resuscitate rubber, tyre industry

Rubber

The Matters Press by The Matters Press
September 16, 2022
Reading Time: 2 mins read
0
Rubber association seeks support of LASG for enhanced growth

The Federal Government inaugurated an 11-man Technical Committee in Abuja on Friday for the resuscitation of Nigeria’s rubber and tyre industry.

RELATED POSTS

FCT ground rent!: Check your name if you own property

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

IMPI urges media to consider national interest in reporting security challenges

Minister of Industry, Trade and Investment, Otunba Adeniyi Adebayo inaugurated the committee and charged it to produce a roadmap to revive the industry in line with international best practices.

“You are to develop policy guidelines that will bring back local tyre manufacturing and develop a framework to secure government’s funding for the industry,’’ he said.

The minister also tasked the committee to interface with state governments to promote rubber plantations and secure funding strategies suitable for planting of rubber trees ready for tapping between six years and seven years.

He expressed confidence that state governments would support the industry and show prompt and timely implementation of the project.

“I request the committee to set up subcommittees that will address some specific issues concerning rubber plantations, tyre industry, proper processing and financing.

“I want to assure you of the continued support of the Federal Government to resuscitate Nigeria’s rubber and tyre industry,’’ Adebayo said.

Earlier, Prince Peter Igbinosun, National President of National Rubber Producers, Processors and Marketers Association of Nigeria (NARPPMAN), described rubber as one of the most economically viable commodities.

Rubber promises good returns on investment and high volumes of by-products; it is engaging and creates employment opportunities at various levels of its value chain, he said.

He noted that rubber also evolves strong social impact and produces billions of tons of oxygen and is environmentally friendly, bio-degradable and non-perishable.

“We are looking forward to a vibrant committee that will develop at least a 10-year rubber development policy that will encourage investments, especially raw materials for industrial growth and development.

“Rubber has six years to seven years gestation period, which is a serious disincentive to investors and financial houses.

“Rubber production is capital intensive, labour intensive, land intensive and requires special skills in production.

“Recommending a special package for developing long gestation crops like rubber by the CBN should be one of the responsibilities of this committee,’’ he said.

Igbinosun commended the minister for introducing NARPPMAN to state governments, saying that their collaboration in developing the rubber sub-sector in their states was paying off.

“Some governors have keyed into the programme,’’ he noted.

Igbinosun noted also that the tyre industry in Nigeria collapsed and manufacturers relocated because of power challenge, insecurity, multiple taxation, community influence and repatriation.

According to him, the cost of diesel and maintenance of generators impacted negatively on the profit of the companies, especially Michelin, Dunlop and Bridgestone.

“Insecurity prevalent in the Niger Delta, multiple taxations, community influence and repatriation also contributed to their relocation

“Today serious accidents traceable to tyre failure have claimed many lives. This is so because the cost of buying new tyres is beyond the reach of cab drivers and most motorists.

“We also hope that the committee will look into these areas and recommend solutions,’’ Igbinosun stressed.

Tags: Rubber
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Property owners besiege FCT office to pay ground rent
Economy/Technology

FCT ground rent!: Check your name if you own property

June 3, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Senate probes $3.5b with NNPC
Economy/Technology

Senate’s stance on Nigeria’s Legislature-Executive Relationship, thrilling

May 30, 2025
Next Post
Nigeria moves to attain self-sufficiency in maize production by 2022

Company produces improved maize hybrid seeds

Islamic bank moves to establish 200 milk collection centres in Kano

Agro-Project awards contract for N6bn milk, irrigation centres

Recommended Stories

Nigeria, WFP worry over food situation

U.S., Nigeria, others unveil strategic food security plan

March 22, 2024
IMF raises alarm over Nigeria’s economy, but supports reform efforts

ILO, Nigeria develop roadmap to promote women’s entrepreneurship

September 29, 2023
Saturday’s by-elections not good for PDP

Saturday’s by-elections not good for PDP

November 18, 2018

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • FCT ground rent!: Check your name if you own property
  • Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,
  • IMPI urges media to consider national interest in reporting security challenges

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us