See How Much 'Ponmo' Consumption Costs Nigeria
Each time you enjoy your Ponmo delicacy, you have either eaten a shoe, belt, handbag or any other hides and skin product.
So, you see, Nigeria is eating its leather factories, denying itself the opportunity to benefit from $75 billion, about 27-trillion-naira worth of global hides and skin business.
A policy expert, Oseloka Obaze, on Tuesday called on the Federal Government to seek Nigeria’s participation in the lucrative global hides and skin market.
Oseloka made the call at the 2018 lecture series of the Department of Economics, Nnamdi Azikiwe University, Awka.
“There are immense benefits from Nigeria’s cattle economy that are not being tapped or even discussed.
“Reforming the cattle industry will confer economic advantages and dispense with cattle grazing, which is antiquated.
“Resort to globally accepted ranching methods as opposed to colonies will offer added value and greater dividend.
“Nigeria spends more than $200 million on milk import every year and cumulatively, about $1.3 billion annually importing dairy products.
“Nigerians also consume cow hide known locally as `ponmo’ and the nation is losing out on the global leather market that is valued at $75 billion annually, from its non-export of cow hides,” he said.
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