With the international price of crude oil on the decline the fortunes of Nigeria’s mono-product economy is also fast depleting. It is against this background that there have been renewed calls for Nigerians to invest in agriculture.
Investing in agriculture seems more like a strategic move; after all, whether the overall economy is in recession or booming, people still have to eat. This is perhaps why many investors regard agriculture as an investment that is recession-proof, With the world’s population increasing in geometric proportion, farming would play an increasingly important role in sustaining global societies.
Agriculture is the bedrock of any society which is why we first have to be self sufficient in this sector before going into exportation. We actually have the potential to not only feed ourselves but also be a net exporter of food and cash crops as obtained during the good old-days of groundnut pyramids, cocoa, palm Oil, cotton and many other crops.
Agriculture is a great source of raw materials and this is why hitherto third world countries like China and Brazil have been able to deploy it in their quest to develop their countries and transform their economies.
Why can’t we develop our local industries through agriculture and become a net exporter of agricultural produce as well as its by-products? Currently, Nigeria possesses.
A recent publication by Leadership Newspaper which depicts a supply-demand gap in the ginger business value chain of 34 million metric tonnes according to data by the Ministry of Agriculture. The same publication indicates that, Nigeria exported ginger worth over N12 billion naira in 2021, These statistics underscores the need to come up with workable plans and initiatives that will address the demand gap and enhance exportation thereby improving the value of our currency, Dr Ruma added.