The Bank of Industry (BoI) and the Raw Materials Research and Development Council (RMRDC) have formed a strategic alliance aimed at reducing post-harvest losses and promoting value addition in Nigeria’s onion industry. The partnership was confirmed by the Director-General of RMRDC, Professor Nnayelugo Ike-Muonso, during a courtesy visit to the BoI Managing Director and Chief Executive Officer, Dr Olasupo Olusi, in Lagos on Wednesday.
Professor Ike-Muonso stated that the collaboration seeks to establish a processing facility that would convert surplus fresh onions into flakes and powder suitable for both local consumption and international markets. He described the initiative as a critical move toward transforming Nigeria’s onion value chain and unlocking significant economic potential.
Highlighting the scale of the challenge, he noted that over 50% of Nigeria’s onion harvest is lost annually due to inadequate preservation, limited processing capacity, and poor access to markets. “The proposed onion processing facility is expected to not only minimise waste but also create jobs, support industrial growth, and advance national objectives for agricultural industrialisation,” he explained.
He further stated that strengthening the onion sector could serve as a model for investing in other raw materials with high commercial value, such as jute bags. Beyond economic gains, the facility is expected to enhance food security and elevate Nigeria’s role in the global onion supply chain.
Dr Olasupo Olusi welcomed the initiative, expressing BoI’s interest in supporting the partnership, albeit with a measured approach. He stressed the importance of thorough groundwork to ensure the project’s success. “We have agreed to undertake comprehensive research and feasibility studies to ensure the project effectively addresses post-harvest losses,” Olusi said.
He added that beyond extending the shelf life of onions, the project holds the potential to significantly increase farmers’ earnings and open up avenues for onion product exports. The partnership, he noted, aligns with broader efforts to drive agricultural industrialisation and economic diversification in Nigeria.
RMRDC, operating under the Federal Ministry of Science, Technology, and Innovation, plays a key role in advancing the development and optimal use of Nigeria’s raw materials. BoI, as one of the nation’s foremost development finance institutions, continues to support industrial growth through financial and technical assistance.