FG, USAID Collaborate To End Challenges Inhibiting Nigeria’s Inclusive Agriculture-led Economic Growth
Princess-Ekwi Ajide Abuja
According to a report by the United Nations International Children’s Emergency Fund, UNICEF, nearly 25 million Nigerians are at risk of facing hunger in 2023 if urgent action is not taken.
This report indicates that access to food has been grossly affected by persistent violence in the north-east states of Borno, Adamawa and Yobe and armed banditry and kidnapping in states such as Katsina, Sokoto, Kaduna, Benue and Niger as well as the problem of drought, floods and erosion all threaten food security, and negates the realization of Federal Ministry of Agriculture and Food Security’s mandate and the overall agenda of the present administration on food security.
It is on this backdrop that the Federal government of Nigeria acknowledged that policy approach and needed interventions for economic growth are still inconsistent even though it is aware that promoting inclusive economic growth in the country through innovative agribusiness financing initiative is key to strengthening the Nigerian agriculture sector.
The Permanent Secretary, Federal Ministry of Agriculture and Food Security, Ernest Umakhihe, who made the acknowledgement at the final review and dissemination event of the USAID feed the future Nigeria agribusiness investment activity in Abuja, stressed that the Ministry has keyed into digital Agriculture through the use of information technology equipment along the value chain, for enhanced agricultural development that will help improve agricultural productivity, reduce food wastage and alleviate the effect of climate change.
The Permanent Secretary, represented by the Director, Special Duties of the Ministry, Mrs. Faucet Lawal, opined that optimization of Agricultural activities can be achieved through private sector-driven SMART agriculture hubs for enhanced bio-diversity, enriched soils, improve watersheds, promoting organic farming and enhanced ecosystem support services through building robust mechanisms for weather and climate information sharing to farmers, deployment of innovative technologies for efficient utilization of land, water and inputs, and the use of greenhouses in rural communities.
Earlier, the U.S. Agency for International Development’s (USAID)/Nigeria Economic Growth and Environment Office Director, Michelle Corzine, had said the USAID has been combating global hunger through the Feed the Future Initiative since 2008, saying that the Initiative brings partners together to address the root causes of hunger and poverty by boosting agriculture-led growth, resilience and nutrition in countries with great need and opportunity for improvement.
According to Corzine, five years ago, Nigeria’s federal and state governments, agriculture stakeholders and USAID identified several challenges that inhibited Nigeria’s inclusive and sustainable agriculture-led economic growth, these challenges, she counted to include high cost of doing business, limited access to finance and investment, and high regulatory barriers.
Corzine, counted some achievements of the Agribusiness Investment activity to include but not limited to connecting over 18,000 micro, small and medium agribusinesses to private investors, mobilizing over 188 billion Naira (244 Million U.S. dollars) in private debt and equity financing across seven states of Benue, Cross River, Delta, Ebonyi, Kaduna, Kebbi and Niger.
The Permanent Secretary, Federal Ministry of Industry, Trade and Investment, Dr. Evelyn Ngige, represented by the Deputy Director Industrial Development Department of the ministry, Mrs. Olumuyinwa Ajayi-Ade, said that innovative agribusiness financing is critical to economic growth of the nation hence the present administration is resolute and committed to leveraging agriculture, agribusiness and agro allied industrial sector to diversify her economy.
She promised that her ministry, in line with its mandate of promoting industrialization, trade facilitation and attraction of investment will continue to deepen her collaboration with the Federal Ministry of Agriculture and Food Security and other critical stakeholders in actualising her mandate, thereby creating jobs, generating wealth and boosting GDPs.
The USAID feed the future project, has been in the forefront of promoting inclusive economic growth in Nigeria through innovative agribusiness financing initiative in seven states of the Federation in the past five years.
