Nigeria’s economy would be fueled by natural rubber, says Umoh

Mr. Usen Umoh, the national vice chairman of NARPPMAN, the Natural Rubber Producers, Processors and Marketing Association of Nigeria, has urged Nigerians, in particular rubber farmers, to step up efforts to replant their deteriorating plantations because the sub-sector will soon determine the country’s economic direction.

Oil may no longer be the country’s economic backbone, according to Umoh, who spoke with OBASANJO NEWS24 in Calabar. Indicators show that natural rubber has once again regained its preeminent position.

He urged more farmers to revive or establish new rubber plants, revealing that they could also earn large profits from the carbon released by rubber plantations.

He said that rubber emits the purest carbon dioxide.

He revealed that multinational institutions shell out extraordinary sums of money to offset the carbon emissions of rubber trees.

“It is better for both individuals and the environment if more people are aware of the carbon credits marketing from rubber.

“The potential for carbon commercialization is enormous. Nigeria should increase its investment in carbon credits, lessen its dependency on oil, and promote the growth of rubber trees since, as in the past, rubber will be essential to the country’s economic future.

Since rubber plantations take some time to develop, more rubber growers abroad benefit greatly from carbon credits, according to Umoh.

He expressed pleasure that a few rubber farmers in the nation had found this and were earning several million dollars in foreign currency.

The rubber expert also suggested intercropping, which he described as a way for rubber growers to increase their profits.

“Inter cropping” refers to the practise of planting different fruits, vegetables or grains in the spaces left by rubber trees, which also act as a sort of umbrella over such low-lying crops. Therefore, even as they wait for rubber, farmers can still profit more.

While waiting for the rubber gestation phase, “inter cropping can provide an alternative source of income,” he continued.

Due to the lengthy gestation time of rubber, he pleaded with financial institutions to not ignore them.