P
ProfRem
Guest
The Federal Government has been called upon to intervene and rescue the largest cattle market in West Africa from collapse due to weak of naira exchange.
The Sarki Tuke of Mubi Emirate in Adamawa, Alhaji Rabi’u Ali made the call in an interview with News Agency of Nigeria (NAN) in Mubi on Saturday.
He said that the emirate is worried that the rate of naira exchange with neighbouring countries CFA was threatening the cattle business in the country.
He said that presently, Cameroon CFA was being changed at a rate of N750 as against N300 which is 100 per cent rate.
According to him, the development is seriously affecting the market.
Sarkin Tuke, is one of the oldest traditional title found in the Northern part of the country , means the Head of cattle market.
He explained that Mubi cattle market was the biggest cattle business centre in West Africa, where five countries supply cows on daily basis.
According to the leader, Central Africa Republic, Chad, Sudan, Cameroon and Niger Republics are the major suppliers of cattle into the market.
“On daily basis no less than 40 to 50 trucks load of cattle leave this market to southern and other parts of the country.
“But our major challenges are ramparts extortion of cattle dealers on major highways from North to the South and the value of naira exchange to the CFA.
‘Because 70 per cent of the cattle come from our neighbouring countries,” Ali said.
- NAN
The Sarki Tuke of Mubi Emirate in Adamawa, Alhaji Rabi’u Ali made the call in an interview with News Agency of Nigeria (NAN) in Mubi on Saturday.
He said that the emirate is worried that the rate of naira exchange with neighbouring countries CFA was threatening the cattle business in the country.
He said that presently, Cameroon CFA was being changed at a rate of N750 as against N300 which is 100 per cent rate.
According to him, the development is seriously affecting the market.
Sarkin Tuke, is one of the oldest traditional title found in the Northern part of the country , means the Head of cattle market.
He explained that Mubi cattle market was the biggest cattle business centre in West Africa, where five countries supply cows on daily basis.
According to the leader, Central Africa Republic, Chad, Sudan, Cameroon and Niger Republics are the major suppliers of cattle into the market.
“On daily basis no less than 40 to 50 trucks load of cattle leave this market to southern and other parts of the country.
“But our major challenges are ramparts extortion of cattle dealers on major highways from North to the South and the value of naira exchange to the CFA.
‘Because 70 per cent of the cattle come from our neighbouring countries,” Ali said.
- NAN