The International Institute of Tropical Agriculture’s (IITA) Youths in Agribusiness group is advocating that the federal government should drive increased investment in the nation’s agro-industry to make it economically viable and productive.

This view was expressed at Agribusiness Investors Network that was organised by the Innovative Youth in Agriculture (I-Youth) in Lagos recently.

The Deputy Director, General Partnership for Partnership and Delivery, IITA, Mr. Ken Dashiell said that it has become imperative for stakeholders to work together to empower the youth in transforming Nigeria’s food system.

In his keynote address, a former President of the Federal Republic of Nigeria, Chief Olusegun Obasanjo, who is also an ambassador of IITA, stated that concerted efforts must be made to ensure that the funding gap in agribusiness is bridged.

Obasanjo added that financial institutions, investors and entrepreneurs must collaborate to realise this endavour because serious entrepreneur would be interested in seeking a double-digit loan

The former president stressed the need for government to invest heavily in the agricultural sector, noting that no nation has witnessed reasonable industrial development without paying adequate attention to its agriculture.

The Managing Director and Regional Executive of Ecobank Nigeria, Bolaji Lawal, also explained that Ecobank is committed to supporting any investment that would stimulate the growth of Nigeria’s economy and transform opportunities in Nigeria into businesses and empowerment for the youth.

Ecobank is already in a partnership with the IITA to train and provide support services to 16,000 Nigerian youths between the ages of 18 and 40 on poultry, aquaculture, horticulture, and value addition. 

A beneficiary of the I-Youth project and Chief Executive Officer of Farm2Fill Enterprises, Ms. Evelyn Areo revealed that her participation in the IITA’s training program has greatly impacted her entrepreneurial journey as she now offers varieties of agricultural produce to local and international markets.

Commenting on the training, the Executive Manager of I-Youth Project, Ms. Aline Mugisho emphasized the need for stakeholders to work together to break the myth around the agricultural sector’s profitability, sustainability, and growth when she spoke on “De-Risking Agro-Industry Investment”.