Rising prices: cotton association harps on value addition, reduced importation

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Ivorian farmers carry cotton balls, on December 5, 2015 in the village of Kanawolo near the northern city of Korhogo. Ivory Coast cotton output rose 11 percent to a record 450,000 tonnes in the 2014/2015 tonnes compared with the previous season on the back of favourable weather and more farmers, an executive of the cotton ginners association said on May 27, 2015. / AFP PHOTO / Issouf SANOGO
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By Cecilia Ijuo

Abuja, Aug. 14, 2022 (NAN) Mr Anibe Achimugu, President of the National Cotton Association of Nigeria (NACOTAN) on Sunday called for value addition and less dependence on imported products.

Achimugu said this in an interview with NAN in Abuja, while reacting to the rising cost of goods largely occasioned by rising cost of production.

He said one of the major ways to ensure price stability in the country was to prioritise value addition rather than export raw materials.

Achimugu equally called for the implementation or enactment of policies that would encourage local production of goods rather than over dependance on imported goods.

The president of NACOTAN said that prices of foreign products were often driven by international market forces.

Citing example with the current exchange rate, the president said price