How could NIFST's demands for commercialization affect the federal government?
NIFST's calls for tax incentives and regulatory reform could prompt federal action The Nigerian Institute of Food Science and Technology (NIFST) has called for several policy changes to boost food security and economic development. These demands include providing tax incentives for research and development, streamlining regulatory approvals for new food products, and encouraging public-private partnerships. Furthermore, NIFST advocates for increased investment in rural infrastructure, such as cold-chain systems and processing facilities, to combat the high rate of post-harvest losses, which NAFDAC estimated to be between 40 and 50 per cent.
- Effect
- Mixed
- How direct
- Stated in the reporting
- When
- Within months
- The story
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How it reaches federal government
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The Nigerian Institute of Food Science and Technology discussed food security challenges in Nigeria at its 50th conference in Lagos. Institute President Dr Bola Osinowo and National Agency for Food and Drug Administration and Control Director-General Prof. Mojisola Adeyeye called for increased investment in research commercialization and tax incentives. The Institute identified inadequate financing, regulatory bottlenecks, and weak links between researchers and industry as constraints limiting the commercialization of food innovations.
The full event1independent outlet -
NIFST called for the government to streamline regulatory approvals for new food products, provide tax incentives for research and development, and invest in rural infrastructure, including cold-chain systems. These demands require the federal government to review and potentially adjust its fiscal and regulatory frameworks.
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- punchng.com Tuesday
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highest, central, level of government in a federation
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The facts so far
As reported. Each one links to where it comes from.
- NIFST identified inadequate financing, regulatory bottlenecks, and weak links between researchers and industry as constraints.punchng.com
- NIFST advocated for tax incentives for research and development and stronger intellectual property protection.punchng.com
- NAFDAC estimated that between 40 and 50 per cent of agricultural produce is wasted because of poor storage conditions.punchng.com
- The Institute also called for investment in rural infrastructure, including cold-chain systems and processing facilities.punchng.com
Why it matters
The stakes for the federal government are tied directly to Nigeria's food security and economic growth. By calling for policy changes, NIFST is pushing for a shift from academic research to viable businesses, which could significantly expand employment and strengthen national food systems. Failure to address these constraints means that brilliant research remains 'locked away in journals and archives' rather than reaching the market.
This discussion occurs within a broader context where regulatory bodies like NAFDAC are focused on promoting responsible innovation while safeguarding public health. The calls for public-private partnerships and alternative financing mechanisms, such as impact investing and blended finance, highlight the need for coordinated action across government, industry, and investors to maximize the value of Nigeria's food science potential.
What we don't know yet
- Will the federal government commit to specific tax incentives for food technology startups?
- What is the timeline for streamlining regulatory approvals for new food products?
What would change this answer
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- punchng.comTuesday
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