Experts in biotechnology say that with the world’s population expected to reach nine billion by 2050, embracing biotechnological innovations can help achieve the Sustainable Development Goals (SDGs).

They said this on Monday at the Precious Cornerstone University (PCU), Ibadan, during the 2nd Recent Advances in Biotechnology Conference and Workshop (RAIB-2021).
Dr. Charlse Adetunji, President of the Nigeria Bioinformatics and Genomics Network, spoke on innovations for diverse global challenges using functional bioinformatics approaches, especially during the COVID era, in his keynote address, emphasizing the importance of biotechnology for the future.

He suggested that innovations in bioinformatics on the sustainable environment and circular economy could be used as tools to achieve the SDGs and address climate change challenges.

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According to him, the world population will reach nine million by 2050, and agricultural production will need to increase by 60%, according to the Food and Agricultural Organization (FAO).

“Agriculture must undergo a significant transformation to feed the world’s growing population,” Adetunji said.

“Climate change increases the difficulty of achieving this goal, particularly in developing countries where food insecurity and poverty are common.”

The discovery of a new bioherbicide, according to the expert, could help farmers avoid using synthetic herbicides, which is one of the threats to food safety, the ecosystem, and human health.

Dr. Su Shiung Lam of the University of Malaysia Terengganu, who spoke about the latest innovation in the conversion of waste into value-added products using microwave vacuum pyrolysis, said the process was very efficient and bio-friendly.

“Microwave vacuum pyrolysis simultaneously treats waste plastic and used cooking oil.” “It has a fast heating rate, a quick reaction time, low energy, and a high product yield,” he explained.

Microwave pyrolysis and bacterial fermentation integrated into the bioplastic production system, according to Lam, were the solution the world needed.

“It uses microwave co-pyrolysis to convert commercial plastic waste to biofuel and bio-oil, and then Bacterial Fermentation of bio-oil to produce bioplastic,” he explained.

The Nigerian Economic Summit Group has urged business leaders to pay special attention to public sector leadership, as well as to monitor and review policies in place to foster economic growth.

This was revealed by Mr Asue Ighodalo, Chairman of the Board of Directors of NESG, at the inauguration of Dr Ije Jidenna as the 17th President and Chairman of the Council of the Institute of Directors (IoD) on Sunday in Lagos.

“Nigeria in Challenging Times: Rethinking the Role of Governance in Leadership,” was the theme of the event.

What they have to say
Ighodalo stated that business leaders have a critical role to play in boosting economic growth through leadership and good governance, citing that countries that achieved economic growth and development had political leadership and institutions through a participating private sector.

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“These times, more than ever, demand visionary and exemplary leadership in our public and private sectors, as we have experienced two economic recessions and a pandemic in the last six years.

“There has also been a decline in demand for goods and services, a fiscal deficit, high unemployment, volatile oil revenues, high inflation, currency depreciation, and deterioration of health-care facilities, among other things.

“Directors and business leaders have not fully realized the power we can wield as a cohesive, transformative body, and have not gathered the will and discipline to effectively push for a policy review and to encourage the government to try a different approach.

“We must pay special attention to our public sector leadership, as well as monitor and review policies in place to foster economic growth.”

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Ighodalo went on to say that the private sector must force and elevate discussions about competence, vision, social policies, integrity, love for the Nigerian people, and understanding of the dynamic world of politics.

The Central Bank of Nigeria (CBN) has devised strategic action plans to boost wheat production by addressing existing value chain challenges, thereby bolstering the country’s foreign reserves.

According to the Nigerian Tribune, this was revealed by Mr. Philip Yila Yusuf, Director of the CBN’s Development Finance Department, at a wheat conference and stakeholder engagement in Abuja over the weekend, with the theme “Improving and Sustaining the Wheat Value Chain Development in Nigeria.”

After making sustainable progress throughout the rice and maize value chains, he emphasized the wheat value chain’s immense potential for ground-breaking impact in the agricultural sector, stating that the Bank planned to focus attention on the wheat value chain for dry season planting in 2021/2022.

What they are saying

Yusuf said, “the CBN plans to address key problems in the value chain through financing massive production of wheat in Nigeria and seeks to facilitate sustained availability of high yield seed variety in the country and improve general productivity.”

With over $2 billion spent annually on the importation of more than 5 million Metric Tons (MT) of wheat, he also stated that wheat was the second-highest contributor to the country’s food import bill, putting a strain on the country’s foreign reserve.

Furthermore, he estimated that only 1%, or 63,000 metric tons (MT), of the 5-6 million MT of wheat consumed annually was grown locally, and that the CBN’s involvement was critical due to Nigeria’s high demand for wheat and inability to meet it.

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He assured stakeholders that the Bank is prepared to change the sector’s narrative alongside all stakeholders, despite the Bank’s significant task, which will require joint efforts to overcome.

Mohammed Abubakar, the Minister of Agriculture and Rural Development, was represented by Abdullahi Garba, who expressed disappointment that the country’s wheat importation and import bills had continued to rise in recent years. As a result, he urged all stakeholders to work together in the coming years to reverse the trend by increasing investment in the value chain. Increasing your investment’s size

Kano State Governor, Dr Abdullahi Umar Ganduje, urged all stakeholders to be transparent in their transactions and to begin preparing for wheat growing and production in a goodwill message issued by his deputy, Dr Nasiru Yusuf Gawuna.

While praising the CBN for its efforts to improve the wheat value chain, he urged the bank to release funds more quickly, emphasizing the importance of collaboration among wheat value chain players in Nigeria’s goal to become wheat self-sufficient.

What you should know

• In a bid to ensure prudent use of foreign exchange resources, the Central Bank of Nigeria had earlier instructed authorised dealers and exporters to only open forms M for letters of credit, bills for collection, and other forms of payment.
• The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, promised to sustain FX restrictions on the importation of food items that can be produced locally.
• The CBN said that it will oppose all attempts to continue the importation of maize into the country. This is geared towards encouraging local production as the apex bank believes that maize farmers in Nigeria have what it takes to close the maize demand gap of over 4.5 million metric tonnes in the country.