Agric Business Group tasks FG on economic growth

Nigerian Stockbrokers Agribusiness Group (NSBAG), have tasked the Federal Government, on the need to put in place the right policies that will drive the growth of Agriculture, which will further diversify the income earnings of the country as well as create more values for farmers in the economy.

The stakeholders who spoke at a recent Symposium organized by (NSBAG), in commemoration of the World Agriculture Day at the Nigerian Stock Exchange (NSE) event center, said the entire value chain in Agriculture process in the country should be private sector driven.

Speaking during a panel session after his paper presentation themed ‘Tapping into Investment Opportunities in Agribusiness’ Managing Director, Cullunant Nigerian Limited, Bolaji Akinboro, said the Agric business enclave has a worth of between $33 billion to $55 billion opportunity market that is yet to be tapped into.

He said the government should put in place the right policies and create the needed environment to ensure a level playing grounds for players in the sector, as well as simplify the laws, while also allowing private business to have command of the sector.

According to him, for the Agricultural sector to take its place and help drive the economy, he said constraints in the area of identity management, access to input, access to market, information and technology to make life easy for the farmers must be address.

In his words “If we are able to solve the problems around the farmers, it will go a long way to solve the issue of food production in the country”.

In her contribution, the Head, Agric Finance Department, Diamond Bank Plc, Mrs. Lois Sankey said while the funds are available for farmers to access, unfortunately they approach the banks with poor preparation in seeking for loans.

Earlier in his remarks, the Vice Chairman NSBAG, Mr. Tunde Oyediran said the coming on stream of the body, is to make the value of farmers’ daily work known and make their farms profitable.

He said NSBAG want to work with Agribusniess SMEs in Advisory capacity and Advocacy and other means beneficial, to ensure they reach the status of being listed on the Nigerian market.

NSBAG goals and objectives includes; Financial Intermediation to stimulate growth and Development of Agribusiness in Nigeria and Africa, Standardization of Produce and Practice for Commodity & Futures Exchanges in Nigeria/Africa, Youth Agri-preneurship & Gainful Employment, Popularize & Promote Agribusiness amongst Stockbrokers and other Professional Bodies in Nigeria so as to attain Food Security and enhance Foreign Exchange Earnings for the country.