The House Of Representatives has announced that plans are under way to legalise Indian Hemp use in Nigeria citing its economic benefits to the country.
Benjamin Okezie Kalu, spokesman for the House made this known while addressing a press conference about the subject in Akure, Ondo state capital.
The legislator revealed that scientists, medical and pharmaceutical professionals, farmers, insurance companies, executives, and private sector investors have been invited to a stakeholder's forum that will hold on cannabis on June 7 and 8, explaining that several countries including South Africa are already taking advantage of the economic and health benefits of the plant.
According to Vanguard, Kanu said, “Nigeria has been described as oil-dependent and not oil-rich. It is a worrying reality that we have not optimized the financial stability advantage that our oil reserves can provide us to diversify our collective investment and revenue sources.
“The coronavirus pandemic exposed our weaknesses when global oil prices plummeted by as much as 15 per cent even falling below $0 a barrel on 20
“Indeed, our economy is still recovering from that shock. However, as the world increasingly shifts towards renewable energy and climate-friendly energy sources, global oil demand will further drop.
“Agriculture has always been a major strength of Nigeria and cannabis provides interesting prospects. Industrial hemp is a variety of the Cannabis sativa plant species that is grown specifically for industrial use.
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“Once harvested, the crop has a high yield of edible proteins and fibres with more than 50,000 product applications ranging from papermaking, textiles, biodegradable plastics, fuel, construction, healthy food, beverages, personal care products, and pharmaceuticals.
“According to verified market research, the Global Industrial Hemp Market was valued at USD 5 Billion in 2019 and is projected to reach USD 36 Billion by 2026, growing at a CAGR of 34 per cent from 2019 to 2026.
“According to the consultancy firm Prohibition Partners, by 2023, the value of Africa’s legal cannabis market could be worth over USD 7.1 billion.”
He explained further that “for this to happen, a candid discourse must be held by all stakeholders on the modalities for legalization, licensing, and regulation of the industry.
“I hope that the two-day stakeholder’s roundtable discussion on the benefits and opportunities of Cannabis Plant and CBD Oil in Nigeria, scheduled to hold on Monday 7 and Tuesday 8 June 2021 will achieve this.
To enable this process of legalization, I have presented before the House of Representatives, the Dangerous Drugs Act (Amendment) Bill, 2020, which when passed, will usher in a new era of medicinal cannabis from production processing and distribution.
“I expect that the exchanges that will ensue at the roundtable on June 7 and 8, 2021, will greatly optimize the deliberations of the National Assembly on the bill, as well as preparations by the executive arm of government to regulate the sector.
“Nigerians must understand that we are not alone in this race to establish a lucrative medical and industrial hemp economy. Based on recommendations by the World Health Organization (WHO), the United Nations (UN) voted to remove Cannabis from schedule IV of the 1961 Single Convention on Narcotic Drugs, and reclassified it as medicinal and therapeutic, on December 2, 2020.
“Several countries have legalized medicinal and industrial hemp and other African countries are moving to do the same.”
Recall how Femi Gbajabiamila, Speaker of the House of Representatives, had said Nigerians must also share in the blame for the worsening insecurity across the nation.
This is as Femi Adesina, senior presidential spokesman, blamed evil forces sitting on President Muhammadu Buhari’s matter for the securty problems.
Speaker Gbajabiamila said, “If truth be told, we all have equal shares in the blame for what’s happening today."
Berating deep division among Nigerians, the Speaker added, “Whatever challenges we have, we must all come together to make sure that we resolve these issues we’re facing.
“We must imbibe that spirit of oneness, togetherness, unity, and love that would take us through this.”
But while apportioning blame to‘aiye’ for the precarious state of the country, Adesina stated, “When you are high-flying, the centrifugal forces will come against you, and it would only take the grace of God for you to attain.
“Yoruba people call those forces Aiye. When Aiye is on your case, as it was against Man City, and it is against the Buhari government, you need God, and God alone.”
Emphasising his point, the presidential continued, “Aiye (meaning ‘the world,’ if freely translated) is the negative part of mankind. The pernicious, baleful, sly, and scheming part of humanity. If Aiye gets on your matter, you need God and God alone.”
Peoples Gazette reports that Adesina further stated that, just as some forces worked against Manchester City last season, some forces are working against Buhari regime’s success.
“Recall what happened in the 2019/2020 season. Man City was eyeing a treble. Three back-to-back seasons as champions and a record in English football. But the adversaries knew the record that was to be set, so they arrayed themselves against the team,” Mr Adesina asserted.
“Just as some forces knew the record that was to be achieved by Muhammadu Buhari as Nigerian president,” he claimed, “and which he had begun to show since 2015 when he got into office, and they (adversaries) positioned against the government.”
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