2019 THEME: OPPORTUNITIES IN THE AGRICULTURE VALUE CHAIN IN NIGERIA – FROM FARM TO TABLE
According to the Vice President, Prof. Yemi Osinbajo, in discussing self-sufficiency in food production as a major policy thrust of the Buhari Administration, agriculture is key to lifting majority of Nigerians out of poverty.
At the 4th National Discourse on Food Security of the Companion at the University of Lagos, Prof. Yemi Osinbajo stated “President Muhammadu Buhari has set a clear direction that Nigeria must produce what we eat and consume what we produce”.
He stressed that the entire value chain will be driven by the private sector developed from production through industrial processing, to logistics/handling and marketing through technology transfer. He also stated that a “critical component of our agricultural programme is described as the Green Imperative” which is the idea to move from the prevailing basic form of agriculture to a more mechanized system.
He also stated that through the Anchor Borrowers’ Programme, which the President launched in Kebbi State in November 2015, credit is given directly to smallholder farmers, through the CBN and 13 participating banks. “So, far credit totaling N120.6 billion has been given to 720,000 smallholder farms cultivating 12 commodities including rice, wheat, cotton, soya beans, cassava, poultry and groundnuts, across the 36 States and FCT.
“The Anchor Borrowers Programme is now digitized, with all farmlands’ GPRS mapped, biometric data of farmers captured, electronic cards issued and specific inputs are required. This has enhanced traceability and enhanced productivity and yield.”
Agricultural sector contributes 25% of Nigeria’s Gross Domestic Product (GDP) and accounts for 48% of the labour force. The sector’s growth rate over the last 5 years averaged 4%. Crop production dominates the sector, accounting for 22.6% of GDP alongside livestock (1.7%), fisheries (0.5%) and forestry (0.3%).
The Agriculture Promotion Policy 2016-2020 defines specific strategies for key stakeholders to build an agribusiness economy capable of delivering sustained prosperity by meeting domestic food security goals, generating exports, and supporting sustainable income and job growth.
Some of the policy objectives for this sector include:
§ Doubling the growth rate of the integrated agriculture sector thereby increasing the contribution of the sector to the national GDP
§ Significantly reduce food imports and become a net exporter of key agricultural products
§ Integrating agricultural commodity value chains into the broader supply chains of domestic and foreign industries, driving job growth, increasing the contribution of agriculture to wealth creation, and enhancing the capacity of the country to earn foreign exchange from agricultural exports
Some of the investment opportunities include:
§ Food processing and preservation across the value chains of the sector
§ Water resources development especially for irrigation and flood control infrastructure
§ Development and fabrication of appropriate small scale mechanized technologies for on-farming processing and secondary processing of agricultural produce
Click on the on the images below for more detailed information on investment opportunities in agriculture.