Post by Ismail AbdulAzeez on May 5, 2017 20:16:51 GMT 1
Nigeria needs a clearly defined policy objective on what it intends to achieve with the present efforts to use agriculture sector as the key to drive its economic diversification project, else, the ongoing efforts to resuscitate agriculture may come to an abrupt end.
Professor Danbala Danju, Managing Director/Chief Executive Officer of Bank of Agriculture (BOA), gave the verdict during an international summit on agriculture in Lagos.
He said that one of the issue policy makers should clarify is the goal of the current focus on agriculture: Is it to produce enough food for local consumption or to target external market to earn foreign exchange? And, which crops, and other agricultural products the country should target on? According to him, these questions need to be clearly answered with specific targets, timeline as well as clearly defined rewards and sanctions for those who fulfilled, or failed to accomplish the target.
He advised that the target should be to feed the local population and the focus should be on food items such as rice, wheat, and other crops that could serve as raw materials for industrial output that Nigeria spends enormous amount of foreign exchange to import. This will ultimately help to reduce hunger, improve nutritional quality, conserve foreign exchange and put the people back to work.
We need agriculture to improve nutrition. Almost 1/3 of Nigerian children are malnourished and exposed to stunted growth. It is a matter of grave concern because it is not only about the present generation but for the next generation. Something must be done to tackle this. Agriculture is not only for earning money or creating jobs but to address the critical/crucial issue of food security. Therefore, Nigeria’s agricultural potential cannot be realized without effective mobilization of funds from the public and the private sectors as well as attracting foreign direct investment to the sector, this is essential because the level of investments in the agricultural sector is still limited.
Finance is the life blood of any economic activities. Nigeria’s agriculture suffers from limited investment. The key task is how to increase investment in the agriculture sector for land preparation, agro-chemicals, food processing and storage facilities. Food security can be described as a situation that exists when all people at all time have physical, social and economic access to sufficient, safe and nutritious food that meet their dietary needs and food preferences for an active and healthy life. He pointed out that food security is dependent on increased food production, effective food distribution and the ability to manage agro risk to be successful.
Insurance is another major component of meeting food security. It provides risk protection across the agro value chains be it production risks. The role of insurance in enhancing food security is to reduce the impact of natural disasters. Also, insurance helps in speeding up agro entrepreneurs so that they can get back to business. It promotes credit availability and gives peace of mind and confidence to anyone who wishes to venture into agriculture.
Ahmed Bashir, acting British Deputy High Commissioner and Director, UK Trade and Investment in Nigeria, once said that agriculture is central to the nation’s economic development by providing food for its population raw materials for economic production. He observed that agriculture development preceded industrial revolution in both the United Kingdom and the United States of America. Thus Nigeria should not be an exception.
Professor Danbala Danju, Managing Director/Chief Executive Officer of Bank of Agriculture (BOA), gave the verdict during an international summit on agriculture in Lagos.
He said that one of the issue policy makers should clarify is the goal of the current focus on agriculture: Is it to produce enough food for local consumption or to target external market to earn foreign exchange? And, which crops, and other agricultural products the country should target on? According to him, these questions need to be clearly answered with specific targets, timeline as well as clearly defined rewards and sanctions for those who fulfilled, or failed to accomplish the target.
He advised that the target should be to feed the local population and the focus should be on food items such as rice, wheat, and other crops that could serve as raw materials for industrial output that Nigeria spends enormous amount of foreign exchange to import. This will ultimately help to reduce hunger, improve nutritional quality, conserve foreign exchange and put the people back to work.
We need agriculture to improve nutrition. Almost 1/3 of Nigerian children are malnourished and exposed to stunted growth. It is a matter of grave concern because it is not only about the present generation but for the next generation. Something must be done to tackle this. Agriculture is not only for earning money or creating jobs but to address the critical/crucial issue of food security. Therefore, Nigeria’s agricultural potential cannot be realized without effective mobilization of funds from the public and the private sectors as well as attracting foreign direct investment to the sector, this is essential because the level of investments in the agricultural sector is still limited.
Finance is the life blood of any economic activities. Nigeria’s agriculture suffers from limited investment. The key task is how to increase investment in the agriculture sector for land preparation, agro-chemicals, food processing and storage facilities. Food security can be described as a situation that exists when all people at all time have physical, social and economic access to sufficient, safe and nutritious food that meet their dietary needs and food preferences for an active and healthy life. He pointed out that food security is dependent on increased food production, effective food distribution and the ability to manage agro risk to be successful.
Insurance is another major component of meeting food security. It provides risk protection across the agro value chains be it production risks. The role of insurance in enhancing food security is to reduce the impact of natural disasters. Also, insurance helps in speeding up agro entrepreneurs so that they can get back to business. It promotes credit availability and gives peace of mind and confidence to anyone who wishes to venture into agriculture.
Ahmed Bashir, acting British Deputy High Commissioner and Director, UK Trade and Investment in Nigeria, once said that agriculture is central to the nation’s economic development by providing food for its population raw materials for economic production. He observed that agriculture development preceded industrial revolution in both the United Kingdom and the United States of America. Thus Nigeria should not be an exception.