Nigeria’s billionaires now invest in agric – Minister

The Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, stated this at the Agribusiness Forum 2013, an annual programme for Africa, organised by the European Marketing Research Centre (EMRC) based in Brussels, Belgium. A statement signed by the Special Assistant to the minister on Media, Dr Oyeleye Olukayode quoted him as saying that “our […]

The Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, stated this at the Agribusiness Forum 2013, an annual programme for Africa, organised by the European Marketing Research Centre (EMRC) based in Brussels, Belgium.
A statement signed by the Special Assistant to the minister on Media, Dr Oyeleye Olukayode quoted him as saying that “our billionaires used to make money from other sectors, including oil, now, they are moving back to the farm.”
The theme of the EMRC forum 2013 is “The Agri-Food Sector: A Catalyst for Sustainable and Inclusive Growth in Africa.”
The minister was optimistic about the prospects of agriculture, saying, “the future of Africa is bright. We need to secure that future,” and “agriculture as a business is what is needed to secure that future.”
The minister also told his audience that Nigeria will be the largest processor of food sorghum.  He said that Dansa is investing 36 million Euros into the production of high energy foods using sorghum as one of the inputs. Food Concept,  a Nigerian investor, he added, “is partnering with a Rwandan counterpart in a $27 million investment in poultry.”
Dr. Adesina, stressed that “Investing in infrastructure is very expensive, but, in Nigeria, to overcome that constraint, “we have developed staple crops processing zones,” which are to set up food manufacturing plants, a cluster of infrastructure “to close the missing link between agriculture and industry.
Rwanda’s Minister of Agriculture and Animal Resources, Dr. Agnes Karibata, disclosed that her country will take advantage of GES developed and currently implemented by the Nigerian government.
Karibata advised that attention should be focused on untapped regional market potentials as the population in regional markets is also significant as consumers.
In his address, Professor Pierre Mathijsen, President of EMRC, said “We need to help Africa regain its strength by strengthening the small agricultural entrepreneurs.”