Can Legal Marijuana Be The New Oil?


Sunday, May 24, 2020 / 12:39 PM / By FDC / Header Image Credit: SHRM

 Proshare Nigeria Pvt. Ltd.

Attempts to achieve export revenue broadening has proved almost futile for Nigeria. Cocoa for example only fetches a paltry $0.5bn (1% of exports). This is why exploiting a fast growing legal Cannabis market is considered to be one of many new creative ideas on revenue diversification.


Legitimate cannabis is used primarily for severe pain management, suppressing acute arthritis and other anxiety disorders. On the flip side, illegitimate cannabis is fraught with serious problems starting from the days of the prohibition racket of the 1930s in the US, to becoming a primary source of revenue for the violent Sicilian Mafia.


If Nigeria can capture only 10% of the global legal market of this product, it will earn an additional $2bn. This will give the unemployed youths in the Niger Delta a legitimate means of livelihood whilst building a more functional society.


In the slides below, Bismarck Rewane and the FDC Think Tank discuss the export potential of legitimate Marijuana in Nigeria and the risks of legalization without proper management/control.

Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

Related News

  1. Nigeria: Is it Time to Legalize Marijuana?
  2. The Marijuana Industry's Dirty Little Secret
  3. The Dawn Of Medical Marijuana In Israel
  4. 2019 And Marijuana: Before You Smoke Omoyele Sowore Alive​ By ... SaharaReporters, Sep 8, 2018
  5. Nigeria will export marijuana if I become president, says Sowore ... Daily Trust, Sep 6, 2018

6.     Ondo is ready to tap into $145bn medical marijuana market ... Punch, May 14, 2019

  1. Akeredolu asks FG to support growing of cannabis in Ondo - Punch ...  Punch, May 15, 2019
  2. The Marijuana Industry's Dirty Little Secret
  3. Israeli Lawmakers Approve Medical Cannabis Exports Law; Estimate $265m Tax Income A Year
  4. No Better Way To Tackle Skunk Than Legalising Cannabis -Canada Model In Mind
  5. Canadian Securities Regulators Publish Guidance On Disclosure Expectations For Cannabis Issuers
  6. UK To Review Medicinal Cannabis Use, Canadian Legalizes Recreational Use
  7. Canadian Exchange Enjoys Record Year as Cannabis, Tech Fuel Growth In Financings and Trading
  8. 316,365kg of Drug Seized in 2018 - NBS
  9. 309,713kg of Drug Seized in 2017 - NBS
  10. The Dawn Of Medical Marijuana In Israel
  11. Israel Update for February 2017 
  12. The world's biggest drug market is growing and uncharted
  13. Hemp as an Agricultural Commodity - Federation of American Scientists - Feb 02, 2015
  14. H.R.2642 - 113th Congress (2013-2014): Agricultural Act of 2014 ...(PDF) 
  15. NIGERIAN INDIAN HEMP ACT ~ The Legalnaija Blawg - Oct 07, 2013
  16. Cannabis now considered agriculture - Willits News - Feb 10, 2016
  17. This will be the next marijuana capital of the world - CNBC - Dec 16, 2016
  18. Investment in Marijuana Soars in Canada | Best Countries | US News - Oct 24, 2016
  19. The 5 most potent marijuana economies in the world | Fortune - Feb 18, 2015
  20. Meet The 8 Hottest Publicly Traded Marijuana Companies - Forbes - Nov 14, 2014
  21. 10 Largest Marijuana Companies - 24/7 Wall St - May 21, 2015
  22. Largest Marijuana Business In The World, Canopy Growth (TSE ..Feb 02, 2017
  23. Cannabis in Nigeria - Cannabis in Nigeria is illegal yet the country is a major source of West African-grown cannabis -Wikipedia
  24. Region With Highest Number Of Drug Lords In Nigeria. - Nairaland - Feb 04, 2016
  25. Cannabis in India - Wikipedia
  26. How Big Is The Marijuana Market? - CNBC - Apr 20, 2010
  27. All-time high for homegrown as pot becomes top cash crop in - The Guardian - Dec 19, 2006


 Proshare Nigeria Pvt. Ltd.

 Proshare Nigeria Pvt. Ltd.


Related News