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By Chinyere Anyanwu
The International Institute of Tropical Agriculture’s (IITA) Youths in Agribusiness has called on the Federal Government to increase investment in the nation’s agro-industry to make it economically viable and productive.
The call was made at the Agribusiness Investors Network organised by the Innovative Youth in Agriculture (I-Youth) in Lagos recently.
The Deputy Director, General Partnership for Partnership and Delivery, IITA, Mr. Ken Dashiell, noted that it has become imperative for stakeholders to work together to empower the youth in transforming Nigeria’s food system.
In his keynote address, former President Olusegun Obasanjo, who is also an ambassador of IITA, stated that concerted efforts must be made to ensure that the funding gap in agribusiness is bridged.
Obasanjo added that financial institutions, investors and entrepreneurs must collaborate to realise this endeavour because serious entrepreneurs would be interested in seeking a double-digit loan.
The former president stressed the need for government to invest heavily in the agricultural sector, noting that no nation has witnessed reasonable industrial development without paying adequate attention to its agriculture.
Also speaking, the Managing Director and Regional Executive of Ecobank Nigeria, Mr. Bolaji Lawal, explained that the bank is committed to supporting any investment that would stimulate the growth of Nigeria’s economy and transform opportunities into businesses and empowerment for the youth.
A beneficiary of the I-Youth project and Chief Executive Officer of Farm2Fill Enterprises, Ms. Evelyn Areo, stated that her participation in the IITA’s training programme has greatly impacted her entrepreneurial journey as she now offers varieties of agriculture produce to local and international markets.
The Executive Manager of I-Youth Project, Ms. Aline Mugisho, who spoke on “De-Risking Agro-Industry Investment,” emphasised the need for stakeholders to work together to break the myth around agricultural sector’s profitability, sustainability and growth.
