From Stanley Uzoaru, Owerri
Former Programmes Director of Nigeria Association of Economists , Chinedu Nsofor said he’s not surprise at the current hash economic situation in the country , explaining that it was earlier predicted in 2022 at their anual conference .
Nsofor addressing newsmen in Owerri on Wednesday said “after the prediction as a way out, we advised the Federal Government to adopt what we called ” The Joseph strategy”.
According to him , “it is the massive investment in food processing and storage in the 36 states and in all local governments of Nigeria.
However, further advising on the solution to the problem, he said that both the state and federal government should be able to work in synergy to set up agricultural processing and storage facilities for the agricultural products in the respective 36 states depending on the commodities produced majorly by the respective states.
” If that is done, there would be massiveg processing and storage of agricultural products in the various states of Nigeria. Thereby eliminating waste of agricultural products that occur due to poor processing and storage after harvest.
I recommend that private sector driven agro holding firms should be established by both the governments at all levels and the private sector in all the 36 states of Nigeria.
These agro holding firms will invest in all the agro value chains of their respective states/regions and will majorly be the offtakers of agricultural products in the various states/local governments.
“When there is heavy presence of agricultural offtakers and heavy investment in processing and storage of agricultural products, we will immediately see how funds will be massively deployed in agricultural sector thereby encouraging the farmers to work harder since there are willing offtakers on ground who will immediately pay for their products from the farms and convey to the appropriate destination for processing and storage.
“This strategy alone will address the problem of massive waste in the agricultural sector of Nigeria thereby ensuring food sufficiency for the country even for exportation since every local government and state now mandatorily have agro processing and storage facilities.