Food industry stakeholders have said Nigeria was losing significant economic value through avoidable imports which they said threaten local production.
The stakeholders spoke at the 12th Regional Food Science and Technology Summit organised by the Lagos Chapter of the Nigerian Institute of Food Science and Technology (NIFST) in Lagos on Wednesday.
The theme of the summit was, “Harnessing Food Research Innovation for Industrialisation and Economic Sustainability.”
The Managing Director of Spectra Industries Ltd., Mr Duro Kuteyi, said local manufacturers had demonstrated the capacity to replace several imported food ingredients.
“Increased patronage of locally manufactured food ingredients will conserve foreign exchange and strengthen domestic industrial capacity,” he said.
Kuteyi noted that strategic investments in food science and technology could improve food security, stimulate exports and create new business opportunities and called for greater investment in agro-processing, saying value addition remained critical to unlocking the economic potential of agriculture.
Earlier, Chairman of NIFST Lagos Chapter, Mrs. Kikelomo Amoreoluwa, said food research must translate into products capable of driving industrialisation and economic sustainability.
“Food science and technology play a critical role in addressing unemployment, food insecurity and economic challenges,” the NIFST chairman said, adding that collaboration among researchers, processors, investors and entrepreneurs was needed to scale innovations into commercially successful products.
Also, NIFST National President, Dr. Bola Osinowo, said Africa possessed abundant agricultural resources but continued to face challenges in commercialising innovations.
He said value addition and local processing remained essential for creating jobs, increasing incomes and strengthening food security.
According to Osinowo, scientific breakthroughs deliver economic benefits only when they are transformed into products and services that reach consumers.
