Participants at a one-day Investors’ Forum have advocated for a multi-stakeholder action and investment in bamboo value chain development in Anambra State and Nigeria at large.
Stakeholders at the forum decried the untapped and underutilized benefits of bamboo in the area and the country at large.
The forum, with the theme, “Strengthening Investment Opportunities in the Bamboo Value Chain for Sustainable Industrial Growth and Economic Development in Anambra State” was attended by captains of industry, scholars, entrepreneurs, and top government functionaries.
The event held at Nnamdi Azikiwe University Awka, was organized by the Raw Materials Research and Development Council (RMRDC), Anambra State Coordinating Office, in collaboration with Sahelian Institute for Bamboo Research and Entrepreneurship Development (SIBRED).
In a keynote lecture, Professor Muyisa Kazimoto, the Vice Chancellor, Open Learning University, Democratic Republic of Congo, identified bamboo as a transformative green resource for Africa’s sustainability agenda.
Speaking on the topic, “Bamboo value chain development in Africa’s Green Economy,” Kazimoto called for multi-stakeholder action and investment in bamboo value chains, expressing worry that Africa faces environmental degradation, poverty, and youth unemployment.
According to him, the green economy model emphasizes equity, resource efficiency, and resilience.
“Green economy also improves human welfare and reduces ecological risks. Bamboo emerges as a renewable, fast-growing resource. Bamboo is also an investment opportunity as it grows fast, regenerates without replanting. In terms of industrial versatility, over 10,000 applications across sectors.
“There is need to mobilize public-private partnerships (PPPs). Integrate bamboo in climate finance systems and support community-driven, inclusive bamboo enterprises,” Kazimoto advised.
In his welcome address, the Director General of RMRDC, Professor Nnayelugo Ike-Muonso, represented by the Coordinator, RMRDC Anambra Coordinating office, Dr Uche Arinze-Nwosu said the bamboo value chain holds significant potential for economic growth, job creation, and environmental sustainability.
The DG regretted that the valuable resource (bamboo) is highly underutilized in Nigeria. “Developing the bamboo value chain can contribute to Nigeria’s green economy, reduce deforestation, and provide raw materials for various industries. We must explore new investment models, modern processing technologies, and value addition opportunities.”
The Acting Vice Chancellor, UNIZIK, Prof. Carol Arinze-Umobi, represented by the Director, General Studies, Prof Philomena Igbokwe, described the forum’s theme as apt, noting that the theme captures albeit tangentially an aspect of the challenges of developing countries: the lack of value addition to their raw materials; relying instead on the export of these.
The Co-founder, Afroforestry Impact and Regeneration, USA, Mrs Diana Doheny, delivered the lead paper titled, Bamboo Value Chains for sustainable development: Identifying investment opportunities and accessing international grants”, during which she put the 2024 global market estimate for bamboo at $67.13 billion, which is projected market $90 billion by 2030.
Doheny listed the top ten countries, to include China, India, Indonesia, Vietnam, Philippines, Thailand, Brazil, Ethiopia, Colombia and Japan.
“China accounts for more than 60% of global bamboo production, exporting bamboo and bamboo-based products to more than 100 countries worldwide. The global market for bamboo furniture is projected to exceed $10 billion by 2026, with China being the largest producer and exporter,” she said.
In another paper entitled “From raw materials to revenue: Bamboo-based entrepreneurship for youth”, the Director, SIBRED, Dr John Ogbodo, harped on the need to pay close attention to the benefits bamboo offers.
Ogbodo regretted that Nigeria which is the second leading bamboo producing country in West Africa, has no operational national bamboo policy, nor regulations, and plantation establishment standards. For their part, the Commissioner for Industry, Mr Christian Udechukwu, the Commissioner for Agriculture, Dr Forster Ihejiofor, and the Commissioner for Information, Dr Law Mefor, all pledged the readiness of the state government to take maximum advantage of the bamboo value chain in line with the goal of a green, eco-friendly and prosperous homeland.
