1.3% Agric Output Insufficient For Food, Raw Materials Demands – Ighodalo

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The chairman, Board of Directors, Sterling Bank Plc, Mr Asue Ighodalo, has said that the annual agriculture output of 1.3 per cent is insufficient to meet

“With millions at risk of being deprived of their means of livelihoods occassioning major concerns around food security, with an estimated population of over 200 million growing at an annual rate of three per cent, regardless of recent interventions, agricultural productivity in Nigeria growing at about 1.3 per cent is insufficient to meet our food and raw materials demand,” he said.

“When we started ASA 4 years ago, we conceived it as a veritable advocacy platform to provide solutions towards rebuilding and transforming our agriculture sector into a resilient growth driver. According to Sarumi, there are some Nigerian agriculture firms that have deployed innovations and technology to grow their businesses.

“I have seen transformation especially in the last 10 years in the agriculture space. The trust of my discussion is private sector bringing innovation. Innovation can solve problems and would attract smart capital, address consumer pains, propel growth of agriculture in Africa, more than we have had over the last 30 or 10 years.

He added that “Our population is growing and there is need to fill the gap because there are customers at the upstream, downstream both in Nigeria, Africa and the world to serve.“If we get productivity right, we will have the opportunity to serve Africa and the globe.

 

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