The country has the capability of generating billions of dollars from controlled cultivation of cannabis for Medicinal purposes.
The funds would come from the exportation of the plant which has numerous Medicinal and beauty usage.
In addition, thousand of jobs would be created and portends numerous benefits for the country’s economy.
Buttressing this fact, Governor Rotimi Akeredolu, speaking at a roundtable discussion on benefits of controlled cultivation of cannabis in Akure, disclosed that global market of medicinal cannabis in 2019 was put at 52.8 billion Dollars.
He added that market forecast indicates an average of 14.5% increase from year 2020 to reach 103.9 billion dollars by 2024.
The governor frowned at misconceptions occasioned by ignorance and ill-information on cannabis plant and CBD oil in the country and said it was time to break this barrier.
According to him, what is important is the need to have controlled cultivation of the cannabis plant for medical usage and exportation.
Governor Akeredolu spoke at a Stakeholders Round Table Discussions on “The Benefits and Opportunities of Cannabis Plant and CBD Oil in Nigeria – Research, Legislation, License, Medicine, Agro-Economy, Empowerment, IGR and Trade Exchange”, held at the International Culture and Event Centre (DOME), Akure.
Speakers at the event include the Chairman, House Committee on Public Affairs & Media, Hon. Okezie Kalu; Chairman House Committee on Diaspora, Hon. Tolu Akande-Sadipe; member, House of Representatives, Hon. Mariam Onuoha.
Others are the representative of the National President of Pharmaceutical Society of Nigeria, Dr. Lolu Ojo and National Chairman, Association of Community Pharmaceutical of Nigeria, Dr. Samuel Adekola.
Prof. Agbaje Gideon Olubunmi, Ladi Sojode Esq, Yinka Arasi Esq, Mr. Abiodun Adewumi, J.B Wechsler, NUJ Ondo Council, Ministry of Natural Resources, Ministry of Justice and Ministry of Health, also had their turn.
The Governor disclosed that the cannabis plant has tremendous therapeutic value, including its use in the treat of cancer, epilepsy and numerous other ailments.
He noted that despute concerted efforts over the year, the country has not succeeded in stopping the cultivation and misuse of Cannabis by prohibiting it.
He, however, said controlled cultivation of the plant for medical usage will reduce its availability in the underworld market, adding that cultivators would like to sell in more financially rewarding markets.
The Governor urged stakeholders to come up with a communique that will be useful for all arms of government and the private organisations , for informed decisions to be taken.
“We need to save our forests from further plundering by Cannabis cultivators. Climate change phenomenon is a reality with devastating effect on our ecology or environment. This approach will reduce the availability of Cannabis in the underworld market because cultivators would like to sell in a more financially-rewarding markets. That is talking about industrial and medical market “.
“We must put in place machinery to break the barrier of misconception occasioned by ignorance, pedestrian thoughts, and ill-information. We must come up with communique that will be useful for all arms of government and the private organisations so that we can all take better decisions.”
Governor Akeredolu charged journalists to avoid sensational reporting but only inform and educate the people on the benefits of medical cannabis.
He also appealed to the National Assembly members, the NDLEA and Pharmaceutical Society of Nigeria, as well as research universities to have a second and deeper thought on the issue.