...

Cannabis as an export commodity.

Cannabis

Undoubtedly, the war against cannabis has been a long one since its prohibition. Despite the strict laws, the global cannabis trade has continued to thrive, fueled primarily by active supply and demand, which have effectively guaranteed a massive inflow of cash that has proven to be the driving force. Instructively, a strong stigmatization campaign prompted its prohibition in America, resulting in the Marihuana Tax Act of 1937. Previously, it was unregulated and widely used for recreational and medical purposes, with conflicting reports on efficacy.

However, Nigeria supported its war with laws like the Dangerous Drugs Act, 1935 and Indian Hemp Act 1966, which bans the planting, harvesting and consumption of cannabis before the Nigeria Drug Law Enforcement Act of 1989. This is in addition to having signed the 1961 Single Convention on Narcotic Drugs and the 1988 United Nations Convention on Psychotropic Substances.

Essentially, the war has followed the framework of existing laws, which frequently involve the seizure of the material, the setting alight of huge expanses of farmlands and seized consignments, and the arrest/prosecution of barons and couriers. Despite the complexities, the ecosystem continues to attract a huge number of innovative and daring participants.
Cannabis has a lengthy medical history, and its revival is only now being documented with confirmed efficacy. It was reported that cannabis has enormous medicinal value for approximately 1.2 billion people suffering from a variety of medical ailments.

It is excellent in treating acute pain, arthritis, and various forms of anxiety. Intriguingly, I recently saw a documentary that was revelatory on the impact of cannabis in treating autism, with users speaking impressively about the outcome.

The Commission on Narcotic Drugs’ removal of cannabis from the list of dangerous drugs, which included heroin and synthetic opioids, has significantly altered the narrative on cannabis, with many countries rushing to enact legislation to accommodate the ‘green gold,’ and Africa is not immune. Lesotho is the first African country to do so for medical and scientific purposes, however the required license comes at a high cost.

The legalization of the psychotropic substance has shifted the focus from morality to commerce/business, though the staggering statistics of cannabis victims, the impact on society (particularly youth), and its role as a component of crime and a conduit into addiction to other hard drugs make the war a serious undertaking. This is the primary argument against legalization, and it is difficult to argue against—the base of junkies will undoubtedly grow.

However, the revelation of cannabis, as well as the global rush to capitalize on the opportunity it presents, is significant enough to shift our perspective and impression. According to a 2019 assessment by Prohibition Partners, a research consulting organization, Africa’s cannabis industry may make as much as $7.1bn annually by 2023.

Without a question, this is an assurance that a regulated cannabis business will generate a plethora of prospects, including employment and wealth creation, economic diversification, and increased foreign exchange profits. Alcohol prohibition in America was motivated by social and health concerns, similar to cannabis prohibition. Also critical was the need for additional tax money, particularly during the Great Depression, when legalizing alcohol sales was viewed as a viable source. In reality, Franklin Roosevelt promised to abolish the alcohol ban, which he did.

The strategy to capitalizing on the potential should be customized to medical needs, which will encourage the establishment of industries in the processing and export of cannabis-based products or raw materials, supported by a strong regulatory and legal framework.

As a result, the country is not short of entrepreneurs willing to take the risk. The granting of permits and levies by the industry would generate significant money.
This will not eliminate the role of the NDLEA; rather, it will be streamlined to reflect the new reality and enhance its arms in effectively performing supervisory, monitoring, and regulatory functions in the industry. Again, the entire argument for cannabis is around its medical and scientific applications.

As previously said, several African countries have hopped on the bandwagon, with many also closing up loose ends before taking a shot at the commercial angle, while Nigeria remains noncommittal despite the loud calls for a change in attitude toward cannabis.
It is still a developing industry, which may have been notified of the authorities’ disinterest. In any case, vibrant conversations must continue in order to generate deep information on the subject and spark a rethinking. With abundant acreage, experienced farmers, and favorable growing circumstances, Nigeria has the potential to become a big player with a large economic harvest.

Share

Leave a Reply

Your email address will not be published. Required fields are marked *

Seraphinite AcceleratorOptimized by Seraphinite Accelerator
Turns on site high speed to be attractive for people and search engines.