The President of Nigeria Agribusiness
Group, NABG, Sani Dangote, has expressed optimism over massive
revolution in agribusiness in 2017 based on collaborations and synergies
formed by the Federal Government and the group.
Dangote stated this at the 2nd Annual General Meeting of NABG in
Abuja, where he also disclosed that NABG Presidential Committee in
partnership with the Federal Ministry of Agriculture and Rural
Development were working hard to jump-start and catalyze a roadmap on
the implementation of the recently launched Agriculture Promotion
Policy, APP, tagged: “Green Alternative,” which will propel the expected
revolution in Nigeria’s agribusiness within the next 12 months.
He acknowledged and said with President Muhammadu Buhari leading the
revolution in the sector and willingness to engage the organised private
sector in renewed drive to diversify the economy through transformation
of the agricultural sector, agribusiness will experience a boom and
farmers’ living standard will improve.
He said: “Agriculture in Nigeria is still done the way it was done in
the 1960’s probably before 1960. But within the next 12 months, we will
experience a dramatic revolution in agribusiness.
“The government of President Buhari has started listening. We have
engaged the office of the Vice-President, we have also engaged the
office of the Minister of Agriculture and Rural Development, and they
have agreed to engage NABG to fashion out the way forward for the next
12 months.
“We have proposed focusing on industrial food and non-food
ingredients manufacturing, and value added processing of staple foods
(crops, livestock and fisheries) into packaged, convenient and
nutritious food products for domestic consumption and export markets to
create jobs, drive competitiveness and significant increase in generated
revenue base at the state level.
“We have proposed a shift from incentivising commercial banks to lend
to agriculture to directly incentivising structured cooperative farmers
through off-take markets and price stabilisation mechanism.
“We have proposed a strengthening the cooperation platform of the
current Central Bank of Nigeria, CBN, and State driven Anchor Borrowers
Programme by shifting to the concept of private sector focused programme
through recapitalisation of Bank of Agriculture, NISRAL and Bank of
Industry.
“These are some of the proposals we have made to the federal
government that we believe, if they follow what we have advised to be
done, in 12 months, we will see a big revolution in agribusiness and it
will turn out to be a big business, and not a mere formality in service
and practice.”
The agro-investor also expressed optimism that with the proposed
roadmap for the sector, the expected revolution will bring interest rate
for agriculture and agribusiness financing down to five per cent or
less in 2017 for more attraction of investors.