Speaking at the National Campaign Against the Consumption of Ponmo held on Thursday in Abuja, the Director-General of the Raw Materials Research and Development Council, Prof. Nnanyelugo Ikemounso, said the practice deprives local industries of vital raw materials needed for leather production and export.
Ikemounso disclosed that the Nigerian leather goods market was valued at $2.79 billion in 2024 and is projected to grow to $4.96 billion by 2033, warning that the continued diversion of hides for consumption could derail this growth.
He said, “From an economic and industrial standpoint, cowhides are one of Nigeria’s most valuable raw materials. Our nation possesses a vibrant leather industry with enormous potential for job creation, foreign exchange earnings, and contributions to GDP.
“As of 2024, the Nigerian Leather Goods Market was valued at USD 2.79 billion, with a forecast to grow to USD 4.96 billion by 2033.
“Sadly, the continuous diversion of hides for ponmo consumption denies our industries access to quality raw materials, weakens our tanning and leather manufacturing sector, and diminishes Nigeria’s competitiveness in the global leather market.”
According to him, the global leather value chain is estimated to be worth between $420 billion and $1 trillion, and with proper policy direction, infrastructure, and raw material availability, Nigeria can significantly increase its share of that market.
The DG emphasised that the campaign was not designed to undermine cultural or dietary choices but to ensure that hides and skins are channelled into productive industrial use for national benefit.
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