In line with transformation efforts by President Goodluck Jonathan, the agriculture sector attracted about $5.6 billion (N896 billion) from 2012 to this year.
bank-of-industry-agreement-tractors.pngThis was disclosed by the Minister of Agriculture and Rural Development Dr. Akinwumi Adesina during his keynote address at the opening of Agra Innovate Nigeria Exhibition.
According to the Minister, agriculture in Nigeria can now be seen as a business, providing opportunity for a private sector led renaissance which has placed Nigerian agribusinesses at par with their global counterparts.
Adesina said, “Nigeria has a lot of arable land of about 84 million hectares and not more than 10 per cent of that is cultivated, the two abundant weathers, rainfall and sunshine seasons in the North, South, East and West is an indication that we have potential to be a global power house in food and agriculture. We must aggressively work to unlock this potential by diversifying the economy, reduce demand for food import and create jobs. We decided to be investment focused in agriculture with a clear government role which is to create good roads, provide good incentives and the investment we talk about is about private sector that is depending on growth because Agriculture is not a poverty reduction sector but wealth creation sector where everything about agriculture is business.”
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