The Bank of Industry (BoI) and the Raw Materials Research and Development Council (RMRDC) have agreed to partner in order to halt post-harvest losses and enhance value addition in the onion value chain.
The Director-General of RMRDC, Prof. Nnayelugo Ike-Muonso, confirmed the partnership on Wednesday during a courtesy visit to the Managing Director/CEO of the BoI, Dr. Olasupo Olusi, in Lagos.
Ike-Muonso explained that the visit aimed to explore collaborative opportunities in onion processing and export, describing the partnership with BoI as a strategic step toward transforming Nigeria’s onion industry.
He noted that the collaboration would focus on establishing a facility to process surplus fresh onions into high-value flakes and powder for both domestic consumption and export.
Tapping into untapped potential
According to him, developing the onion value chain would be a major boost for Nigeria and could also encourage investment in other raw materials with high market value, such as jute bags.
He noted that the establishment of an onion processing facility aims to harness the abundance of onions cultivated in Nigeria, which often suffer post-harvest losses of over 50% due to inadequate preservation, lack of processing infrastructure, and poor market access.
“The proposed onion processing facility is expected to not only minimize waste but also create jobs, support industrial growth, and advance national objectives for agricultural industrialization,” he said.
According to him, the proposed facility would also enhance food security and position Nigeria as a key player in the global onion value chain.
BoI backs the initiative with caution
Dr. Olasupo Olusi, Managing Director of BoI, expressed optimism and a strong willingness to collaborate with RMRDC.
- He, however, emphasized the need to critically evaluate all necessary variables and success factors before full implementation.
- Olusi stated that both organizations had agreed to undertake comprehensive research and feasibility studies to ensure the project effectively addresses post-harvest losses.
- He added that the initiative would not only extend the shelf life of onions but also improve farmers’ incomes and open up export opportunities for Nigerian onion products in the global market.
- The RMRDC is a pivotal Nigerian government agency under the Federal Ministry of Science, Technology, and Innovation.
It focuses on promoting the development and optimal utilization of Nigeria’s vast industrial raw materials, fostering sustainable industrial growth.
BOI is a leading development finance institution, with the mission to transform Nigeria’s industrial sector by providing financial and business support.
