Bee Farming and $10bn Annual Revenue for Nigeria

Amb. Lot Egopija, Consul-General of Nigeria in New York has described bee farming in as an ” untapped gold mine” in Nigeria capable of generating more than 10 billion dollars in annual revenue for the country.

Egopija said this in a message to the World Bee Conference organised by the Nigeria-USA Chamber of Commerce in Cleveland, Ohio.

The envoy explained that a barrel of honey cost more than a barrel of crude oil, which is currently Nigeria’s black gold.

“Bee farming is an untapped gold mine in Nigeria as a barrel of honey cost more than a barrel of crude oil.

“It is estimated that the industry can generate over ten billion dollars annually.

“In addition to honey, bee farming yields by-products such as beeswax, bee venom, and propolis that have industrial use in the pharmaceutical, food and beverage industries.

“Research has shown that quality bee farming is viable in the rural areas of at least eight states across Nigeria,’’ he said.

The envoy, therefore, pledged support for any foreign investor willing to go into bee farming in Nigeria, adding that the Trade and Investment Desk in the Nigerian Consulate would assist investors desirous of tapping into the country’s unsaturated bee industry.

Egopija told the conference that as part of efforts to diversify the Nigerian economy, the Federal Government had been encouraging farmers to invest in bee farming.

Read more - News Diary