As Nigeria aims to enhance market access and build resilient food systems, former President Olusegun Obasanjo has urged the federal government to prioritize food security by providing single-digit interest loans to farmers.
“Any country offering more than single-digit loans to those in agribusiness is not aiding farmers. We must recognize food as a national security priority and provide the necessary financial support,” Obasanjo stated at the recent Agriconnect Summit 2024 in Lagos.
Obasanjo, who chaired the summit themed “Bridging the Divide: Cultivating Collaboration and Innovation for a Sustainable Agricultural Future,” emphasized that strategic innovation and collaboration can address challenges facing Nigerian agribusiness.
“Innovation is crucial. Land is important. But without money, your land is useless. You cannot do agribusiness without money and innovation,” Obasanjo asserted.
Ayoola Oduntan, Group Managing Director of Amo Farm Sieberer Hatchery Limited, highlighted the critical need for policy consistency to improve market access and build resilient food systems in Nigeria. He reaffirmed Amo Farm’s commitment to driving positive change and fostering collaboration within the agricultural sector.
During a panel discussion titled “From Farm to Table: Enhancing Market Access and Building Resilient Food Systems,” Oduntan pointed out that inconsistent government policies hinder the advancement of agribusiness in Nigeria.
“We have all the right ideas to advance agribusiness, but policy implementation has been a major challenge. In my over 30 years in the agricultural sector, I’ve seen numerous policy shifts with each new Minister of Agriculture. This inconsistency hampers our progress,” Oduntan said.
He stressed the need for coordinated efforts to address the challenges facing the agricultural industry and unlock its full potential. He also called for a central coordinating agency to provide direction, allocate resources, and ensure the sustained implementation of agricultural policies.
Another panelist, Meka Nwabuko, Managing Director of Prime Agro Seeds Limited, emphasized the need for collaboration and technology in transforming Nigerian agribusiness. “Smallholder farmers are at the heart of food cultivation and production and remain the dominant producers across the country,” Nwabuko said.
According to Nwabuko, smallholder farmers face numerous challenges to produce profitably. He added that these challenges are more effectively and sustainably addressed when farmers are organized into clusters or cooperatives.
