Minister of Agriculture and Food Security, Abubakar Kyari, don dey emphasize say private sector innovation dey crucial for advancing agricultural development in Nigeria. Him make dis statement at de Stanbic IBTC Breakfast Summit wey hold for Abuja on Thursday.
Kyari point out say de theme of de summit, “Driving Economic Transformation through Agro-processing: Building a Sustainable Future,” align well with President Bola Tinubu’s declaration of a state of emergency on food security and de Renewed Hope Agenda, which aim at promoting agricultural revolution.
“Agriculture must be seen as a business and a haven for investment,” Kyari assert, emphasizing de need to integrate food production, storage, processing, and industrial manufacturing to strengthen de agricultural commodity value chain.
Kyari also stress say de private sector should take de leading role in agriculture, stating, “De current agricultural policy be for de private sector to be in de driver’s seat, while de government provide an enabling environment.” Him encourage stakeholders to work towards increasing value addition in agriculture and reducing post-harvest losses to achieve food security and wealth creation.
Wole Adeniyi, de Chief Executive Officer of Stanbic IBTC, also echo dis sentiments in his remarks. “I recognise de essential role that agriculture, particularly agro-processing, plays in Nigeria’s development,” him say. Adeniyi point out say agriculture significantly contribute to de nation’s gross domestic product and provide livelihoods for millions.
Addressing challenges within de sector, Adeniyi note say, “There be significant gap in tomato production, with demand at 2.2 million tonnes and production at 1.5 million tonnes, largely due to adverse weather conditions and harvest issues.” Him further discuss de $182 billion financing gap facing de agricultural sector.
Adeniyi assure attendees of Stanbic IBTC’s commitment to supporting agro-processors by providing financing for machinery, reducing procurement losses, and helping to bridge de financing gap. Him conclude with a call to action, saying, “Let’s collaborate to drive growth opportunities, enhance Nigeria’s agricultural landscape, and build a sustainable future for both de agricultural and cultural sectors.”
