[Nigeria's] Federal Government has been urged to cancel the newly signed Memorandum of Understanding (MOU) between the United States and Nigeria on promotion of Biotechnology and Genetically Modified Products (GM) in the country.

Describing the memorandum as ill-advised, the secretary of the All-Nigerian Consumer Movement Union (Ancomu), Lanre Oginni called on government to adopt a precautionary attitude towards Genetically Modified Products which it said are not safe for human consumption.

"There are reasons to be very cautious about genetically modified products as more evidence is emerging that they are not safe. Instead of promoting biotechnology, Nigeria should be investing in sustainable science centres in order to promote and revitalise our indigenous agricultural and health systems in collaboration with the right kind of contemporary western science", Oginni said.

The Ancomu scribe who disclosed that many third world countries had been misled into investing heavily in biotechnology added that:

"A new report had showed that the market for biotechnology and genetically modified products has plummeted with-mass lay-offs, and investments drying up. It also revealed that genetically modified crops were an economic disaster for the United States. The worldwide rejection of GM products all add up to an enterprise that is morally, scientifically and financially bankrupt".