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Biotech can generate N2tr yearly –Expert

Mr. Madero, who is also the President and Managing Director for Europe, Middle East and Africa of Monsanto, said in Abuja at the stakeholders meeting/dinner…

Mr. Madero, who is also the President and Managing Director for Europe, Middle East and Africa of Monsanto, said in Abuja at the stakeholders meeting/dinner organized by the Open Forum on Agricultural Biotechnology (OFAB), that biotechnology could make agriculture an engine of economic growth in Nigeria.
Monsanto is a publicly traded American multinational chemical, and agricultural biotechnology corporation headquartered in Creve Coeur, Missouri.
According to him, farmers need to have biotechnology anywhere in the world and it would be left to them to decide whether to use it or not. “Monsanto is not new in Africa, we are in sixteen (16) locations in Africa; Burkina Faso now has huge agricultural transformation while in South Africa, 95% of farmers are into biotech. We also invest in research and technology that can improve life as well as invest $4 million a day to bring technology to farmers,” he said.
In another development, the Chairman Senate Committee on Science and Technology Professor Robert Boroffice expressed optimism that President Goodluck Jonathan will be anxious to sign the Biosafety Bill for the interest of the country.
In her speech, the acting Director General/CEO, National Biotechnology Development Agency (NABDA), Prof. Lucy Ogbadu, lamented the lack of Biosafety law, saying “without the bill, we cannot practice biotechnology in Nigeria.
 “We have done all the advocacies, but we cannot move forward without the bill, I appeal to all the Senators here to speed up the assent of the bill before the end of this assembly so that Nigerian farmers can enjoy this technology,” she added.