Agribusiness in Nigeria: Road to Sustainable Agricultural Development in Nigeria
Agribusiness is also known as an agricultural business; it is the business of farming, producing, marketing, and management of agricultural products such as crop production and livestock.
Agriculture has been an essential factor to humanity, from the foods we eat and the refined fibres in the clothes we wear.
Farmworkers, livestock farmers, and farm managers are affiliates of agriculture.
However, with technology and an increase in the global market, the agricultural business has further advanced to meet and resolve various needs while embracing investors and all agents of the fibre and food chain, investors, and other institutions influencing it.
How is Agribusiness in Nigeria the way forward?
With the recent global happenings and the impact of the coronavirus on the food chain we see a food crisis lurking if not handled properly and this is what the food and agricultural organization of the United Nations had to say about this:
“We risk a looming food crisis unless measures are taken fast to protect the most vulnerable, keep global food supply chains alive and mitigate the pandemic’s impacts across the food system” – FAO.org
We have hopes that the pandemic will eventually depart, but how soon before it causes more disruption on the food chain is what we don’t know.
Many elements and activities surrounding the food supply and demand chain are already affected by the pandemic.
Border closure, lockdown, market, trade, and agricultural supply chain management, and in return, this has limited people’s access to sufficient food supply, most notably in countries hit hard by the pandemic or those already affected by a high level of food insecurity.
Although disruptions have been minimal in terms of food supply and adequacy, there is a higher rise in demand for nutritious food and a lower supply rate as a result of the slowdown of all economies worldwide.
According to a statement by the food and agricultural organization of the United Nations, we should brace up to experience more disruptions in the food supply chains especially in the high-value commodities (fruits, vegetables, meat, fish, milk, etc.)
You may ask, what are the signs we are experiencing that could lead to a food security problem?
- Disruptions in socio-economic activities
- Logistic challenges
- Restrictions in local food supply chain
- Food import-dependent countries are struggling
All these and more are some of the first signs that signify an incoming food security problem.
Agribusiness in Nigeria and its Role in Sustainable Agriculture
Sustainable agricultural development is the critical enhancer for adequate food security not just for short term purposes like surviving a pandemic but for sustaining life in general now and for the future generations because, as human beings, we will always need food to survive.
Although Nigeria’s economy is still tied to the oil market, before the period of oil, finding Agriculture was the dominant source of the country’s economy and source of foreign exchange.
The less attention given to the agricultural sector has led to multifaceted challenges in the country, ranging from food insecurity to unemployment.
According to the data revealed in the foreign trade report released by the National Bureau of Statistics (NBS) and Chief Audu Ogbeh, Minister of Agriculture and Rural Development Nigeria spends almost $22 billion every year on food importation, a situation he described as unsustainable and posed a danger to the nation’s economy (vanguard).
Now more than ever is the time to invest in sustainable agriculture by funding agribusiness in Nigeria.
This data proves that Nigeria is under the radar of this statement-Food import-dependent country struggles to have the needed resources to buy food. In turn, as demand for food will decrease over the next months, prices should go down in 2020, and this will hurt farmers and the agricultural sector.” – FAO.org
Benefits of Agribusiness to Sustainable Agricultural Development in Nigeria
Food security is everyone’s business, and as individuals, we should begin to explore and employ ideas on how we can all contribute to the sustainability of agriculture to reach an optimum food supply chain in the country.
However, an agribusiness like Trado Global has recognized that not everyone can manage farmlands, and also other persons may be occupied in different sectors of the country, contributing their quota in battling the pandemic.
As a specialized agribusiness in Nigeria, we have engrossed ourselves with the task of providing a platform to enhance food security through sustainable agricultural development.
Also, identify fast-growing agricultural food crops that can be produced and ready for consumption within a short period.
The types of agricultural ideas in agribusiness are endless ranging from vegetative farming, spice production from pepper farms and also fruit juice production from fruits farming such as pineapple farms.
These sustainable agricultural practices will in turn;
- Meet the demand for food by increasing the production of sufficient human food, fiber, and fuel to meet the needs of a fast-rising population and its future generations.
- Increase profitable farm income for farmers
- Increase a profitable Return of investment (ROI) for farm investors
- Improve the standard of living for farmers and communities
- Increase the production of sufficient human food, feed, fiber, and fuel to meet the needs of a fast rising population
- Improve the protection of the immediate environment
- Improve soil fertility and maximize the supply of natural resources.
- Improve sustainment of the economic activities of agriculture systems in the country
It is not in any body’s capacity to predict the long term damages caused by the pandemic.
Quarantines and panic during the Ebola Virus Disease outbreak in Sierra Leone (2014-2016), for example, led to a spike in hunger and malnutrition (fa.org).
Although we don’t expect the pandemic to last for too long, the best practice we can do while we wait for the pandemic to be over is to prepare ourselves for the worse, by making the most out of on-farm resources to scale up food production.
We can achieve this by funding the farmers, farmlands, and investing in agribusiness in Nigeria. To be better prepared is safer than been sorry in the long run.