Plant Protection Bill To Generate $2bn – NESG
The Nigerian Economic Summit Group on Thursday said the implementation of the Plant Variety Protection Bill, which was recently signed into law, would help Nigeria to generate over $2bn from seeds export.
It applauded the Federal Government for signing the PVP Bill into law on May 21, 2021, as its implementation would give plant breeders intellectual property over a new plant variety, with exclusive rights to commercialise seed and propagation material of the variety.
The NESG in a statement issued in Abuja by its Head of Corporate Communications, Yinka Iyinolakan, explained that a well-functioning plant variety protection system would encourage in-country breeding activities.
“This will also attract foreign companies to introduce high quality improved varieties, knowing that others cannot easily copy their effort or take advantage of it,” the group said.
It added, “Once the PVP law is fully implemented in Nigeria, the country will move from generating $0 from seeds export to generating well over $2bn from seeds export within the first five years.”
It said the PVP would also promote marketing of new varieties and allow breeders to earn back the considerable costs involved in the long process of variety development.
While commending the National Assembly and the government for signing the PVP bill into law, the NESG urged the National Agricultural Seeds Council, the seeds sector and all players in the food and agriculture seeds ecosystem to ensure that the implementation guidelines were properly set.
The group urged stakeholders to act speedily in ensuring that critical aspects of the bill were effectively implemented, stressing that the measures set out in the PVP Act would create a more appropriate system.
It said the measures would meet the current realities in the sector, improve the business environment and general agricultural performance across the economy as a whole.
The NESG said it would continue to partner stakeholders in the agricultural ecosystem and other sectors to improve the PVP Act and ensure that it was beneficial to plant breeders, smallholder farmers and every stakeholder in the Nigerian agricultural ecosystem.
The PVP Bill was passed by the House of Representatives on December 17, 2020 and the Senate on March 3, 2021 following several months of deliberation.