s


Posted By: key2naira | 5th October 2020 | 4 | 503

Asue Ighodalo, Chairman, board of directors, Sterling Bank Plc, has identified five core areas that should be articulated in the quest to transform the agricultural sector in Nigeria and on the African continent.

The chairman stated this in his address at the virtual Agriculture Summit Africa (ASA) organised by Sterling Bank with the theme: Fast forward agriculture: exploiting the next revolution,” which held with synchronised broadcast studios from Lagos and Abuja.

According to him, to be able to effectively transform the agricultural sector, feed the continent’s growing population, boost its economies, create massive employment for millions of young and not so young people as well as absorb the shocks of the on-going pandemic, the involvement of key stakeholders across public and private sectors in developing the right policies to aid the growth of the agribusiness value chain must increase.

Ighodalo urged governments in sub-Saharan Africa to optimise the agricultural sector to attract sizeable investments that will help to drive expansion and achieve global competitiveness as well as increase financing to key points of the value chain, particularly smallholder farmers, to modernise their practices and increase outputs.

He stressed the need to focus on the role and impact of technology and data science in stimulating innovation in the value chain and the need to understand the changing regional climate cycles, its impact on productivity, and identifying necessary adjustments to deliver growth despite these climate changes.

Also speaking, managing director/CEO of the bank, Abubakar Suleiman, noted that government could only help to kick-start the revolution while it was the responsibility of private sector players to come together to make a success of it.

He said the government has put in place processes, finances, and researches to start the revolution in the agricultural sector and it is now about commercialising it and making it possible for the individuals and businesses to benefit from it.

Suleiman observed that Sterling Bank has been hosting the agriculture summit for three consecutive years and every year had been better than the previous one, adding that one of the outcomes from the first summit had been the bank’s commitment to fund the Nigerian Farmers Radio which has become a successful platform for disseminating information to rural farmers. The bank, he said, intends to enhance the platform so that more farmers could have access to information.

President of the African Development Bank (AfDB), Akinwumi Adesina, remarked that agriculture remained his passion; adding that the vision of AfDB post-COVID-19 was how to build a better, stronger and more resilient agricultural sector in the African continent.

Adesina, who was represented by Martin Fregene, director of agriculture and agro-industry of AFDB, noted that Africa should not be in need of food, adding that 60 percent of the estimated 200 million hectares of uncultivated land in the world resides in Africa. “Therefore, the African continent can be best described as the last frontier of agricultural development on the planet.

“We need to transform this land into a highly productive, profitable, and sustainable breadbasket and for this we require food technologies which fortunately we have in abundance today. We also require technical know-how, finances, partnership with banks and enabling policies by governments, as they relate to landed property rights, debt trade policies, cross border trade, and incentives such as low-interest financing for land clearing and equipment purchases for primary producers,” Adesina said.

He said the continental bank had responded two years ago by launching the Feed Africa Initiative, which was an ambitious programme that takes a value chain approach to developing agriculture on the continent.

Adesina said as part of Feed Africa, the continental bank had invested about half a billion dollars to scale new technologies to about 40 million farmers as well as worked with seed companies, researchers, farmers, input suppliers, governments to buy improved seed varieties and to ensure they get to farmers.

Also Read: No food security without constitutional backing – Ayoola


Efficient infrastructure for agro export Needed

Against this backdrop, Nigeria’s capacity to move and connect exporters with international mar...

READ MORE
Posted By: key2naira | 9th April 2021 | 1 | 46

How to Upskill extension workers

It has focused attention on agricultural extension services. This is because agric extension plays a...

READ MORE
Posted By: key2naira | 9th April 2021 | 0 | 36

Yam production: technologies to the rescue

Yam is central to food consumption in West Africa. About 48 million tonnes of yam (95 per cent of gl...

READ MORE
Posted By: key2naira | 19th March 2021 | 1 | 340

Improving cassava seed system

The International Institute of Tropical Agriculture (IITA) has been working in collaboration with th...

READ MORE
Posted By: key2naira | 19th March 2021 | 1 | 301

Revamping livestock sector

But in Nigeria, the livestock sub-sector has made little progress, mainly because of high costs of p...

READ MORE
Posted By: key2naira | 19th March 2021 | 1 | 287

How to boost wheat production

Wheat production has fallen in Nigeria. Its total production last year was about 200,000 metric tonn...

READ MORE
Posted By: key2naira | 19th March 2021 | 1 | 320

Targeting youths for farming

Since 2017, the International Labour Organisation (ILO) has been harping on the upward swing in the...

READ MORE
Posted By: key2naira | 19th March 2021 | 1 | 411

Why CBN depriving Rivers of agric loans, says Wike

Rivers State Governor Nyesom Wike has accused the Central Bank of Nigeria (CBN) of depriving his sta...

READ MORE
Posted By: key2naira | 16th March 2021 | 1 | 151

Supply More Foodstuffs To The South - Jukun Associ...

The apex socio-cultural and political organisation of the Jukun people worldwide, in a press stateme...

READ MORE
Posted By: insurena | 2nd March 2021 | 1 | 240

Village market organises fair for traders to lever...

There appears to have been a surge in online trading of agricultural produce during the recent lockd...

READ MORE
Posted By: key2naira | 7th October 2020 | 1 | 305

Nigeria missing out on bigger slice of $1.5tn glob...

In 1962, Nigeria’s food exports as a percentage of merchandise exports was 64.52 percent but b...

READ MORE
Posted By: key2naira | 7th October 2020 | 1 | 304

How consistency drives Delta young fish farmer to...

Some people get into business with high expectations only to back out when threatened by challenges...

READ MORE
Posted By: key2naira | 7th October 2020 | 0 | 248

FG to clear 400 hectares of land in for Ekiti farm...

The Federal government through its Ministry of Agriculture has concluded arrangements to clear about...

READ MORE
Posted By: key2naira | 7th October 2020 | 0 | 170

HO Corn opens e-commerce trading platform for maiz...

HO Corn – Nigeria’s largest private farm has launched an e-commerce platform to sell fre...

READ MORE
Posted By: key2naira | 7th October 2020 | 1 | 222

No food security without constitutional backing –...

A professor of Agricultural Economics and president, Food and Infrastructure Foundation (FIF) Gbolag...

READ MORE
Posted By: key2naira | 5th October 2020 | 1 | 475

Expert calls for increase in soybean consumption t...

Director-general, Premier Agribusiness Academy and a renowned agricultural expert Toromade Francis,...

READ MORE
Posted By: key2naira | 5th October 2020 | 1 | 352

Fish production receives boost as APPEALS supports...

Nigeria’s quest for self-sufficiency in fish production has received a boost as Lagos Agro-Pro...

READ MORE
Posted By: key2naira | 5th October 2020 | 1 | 282

German agric firm offers training opportunity for...

The Agricultural Skills Acquisition Programme (ASAP) 2020, a German Agricultural funded programme ha...

READ MORE
Posted By: key2naira | 5th October 2020 | 1 | 318