Indian Hemp Oil, A Major Source Of Foreign Exchange
According to a report, in a meeting with the Food and Agriculture Writers Organisation of Nigeria (FAWON) members, Dr. Victor Iyama, an Agro-economist had explained to them that hemp oil could generate a lot of revenue for the country but instead the National Drug Law Enforcement Agency (NDLEA) is focused on destroying the large farms of Indian hemp production. He went further to analyze the amount of foreign exchange we could get from the sale of 1 litre of hemp oil, which is approximately $12,000, while 1 litre of fuel is N145 or N200 which is approximately 1 dollar.
This goes a long way to show that the country is blessed with so many natural resources but because of the abuse of such resources in the country they have resorted to getting rid of it, but the real solution here is to ensure that an adequate regulation of the production process is been conducted, he said. He also went further to state that nothing stops the NDLEA from going to these farms where the hemp are produced and monitor the processing machines.