Ecobank Ghana : How to transform agriculture for growth

Stakeholders have given an overview of the constraints in their businesses and made proposals on how the government can respond to their needs.

Many farmers lack the basic things their counterparts outside the country take for granted, such as logistics, access to improved crop varieties, fertiliser and irrigation.

Although some progress has been made, addressing these weaknesses by themselves is not enough.

The Eco Bank Agribusiness Summit organised by Ecobank in partnership with Vanguard Newspapers, with the theme Unlocking productivity and investment opportunities across Nigeria’s agribusiness value chain provided the platform to bring these issues to the fore.

At the forum held in Lagos, one of the panelists and Vice-President, Nigeria Agribusiness Group, Dr. Emmanuel Ijewere, elaborated on some of the challanges the industry was facing, including diseases and logistics problems.

Ijewere said livestock farmers suffered a lot of losses in transporting cows from the North to the South.

The Minister of Agriculture and Rural Development, Alhaji Sabo Nanono, who was represented by the Minister of State, Mustapha Baba Shehur, reiterated the government’s commitment to giving a new dynamism to the agricultural sector.

He also spoke of the progress achieved in the sector and reiterated the government’s commitment to promoting the sector.

This, he said, was through assistance to farmers to increase production of local crop.

Nanono commended Ecobank and Vanguard Newspapers for providing a forum for stakeholders to seek solutions to the challenges in agricultural development.

Ecobank Managing Director Patrick Akinwutan said there was an agreement with Nigerian Incentive Risk Sharing Agricultural Lending (NIRSAL) to invest another N70 billion in agriculture financing in the next three years.

Akinwutan said the bank recognised agriculture as pivotal to the success of the economy and was determined to work with credible partners to open up the vast opportunities in the sector.

He said this was why the bank partnered Vanguard Newspapers to hold the summit.

The Chief Economist and Partner, PWC, Dr. Andrew Nevin, stressed the need for the government to focus on initiatives that will improve the investment climate.

According to him, growth has not been significant, attributing this to investors’ perceived concerns over risks.

Despite this, Nevin said Nigeria has the capacity to become the sixth world food producer if the government doubled its efforts at achieving inclusive and sustainable agricultural development.

Lagos State Governor Babajide Sanwo-Olu reiterated the commitment of the state government towards changing the face of the various agricultural estates and encourage youth participation in agriculture.

The Governor who was represented by his Special Adviser on Agriculture, Ms. Abisola Olusanya explained that the State Government was also collaborating with development partners like the world Bank to implement various agric-based projects in the State stressing that the Agro Processing, Productivity Enhancement and Livelihood Support Project (APPEALS) is one of such projects which would empower no fewer than 10,000 farmers in the State in the next four years.

‘All these initiatives and several others being promoted by this administration are meant to encourage private sector participation in the agric sector. It is very important that we pay special attention to the agricultural value chain because it is only through the value chain that we can maximize the potentials in the sector,’ the Governor opined.

© Pakistan Press International, source Asianet-Pakistan