Adeshola Oyetunde, the CEO of Rainbow Agrotech based in Ilero, Oyo State, has made exploits in the agricultural sector; from veterinary consultation, land tilling, livestock, processing of farm produce to building a multipurpose agro centre. In this interview with YEJIDE GBENGA-OGUNDARE, he talks about government support, agrotech business, form of agricultural services and food security among other issues.
AS an expert, what is the agrotech business about?
Agrotech like we do in our company provides high quality agricultural services to people. It helps the government to solve challenges associated with food insecurity not only in Nigeria but all over the world. What this connotes in simple term is that we are into farming and some of the areas we operate as an agrotech are livestock production, processing of livestock such as catfish, beef, chicken just to mention a few, we are also into irrigation farming as well as agricultural consultancy services to those who may need our services amongst several many others.
Agriculture is seen as the new gold, will you say government has done enough to attract youths to the sector?
I would not say government has not tried but instead give kudos to the current ruling administration both in Oyo State and Nigeria for encouraging young people in my generation to embrace agriculture through many programmes. But beyond that, government has many lapses in ensuring that its noble intentions are actually executed and made into reality, especially at the implementation stage. I will rather say that government needs to do more for this sector.
What areas do you think government needs to put efforts to help agriculture sector?
I will like to see government give more credit facilities to farmers at good interest rates and make it more accessible through less bureaucratic bottlenecks. Farm machinery importation, if duty free, will also help farmers in Nigeria, the area of research is another thing government needs to revive by ensuring those established research institutes are actually carrying out their mandates effectively. I also think farmers in Nigeria need a special insurance coverage package, which I think government should look into.
On the land border closure by the Federal Government, how did this affect your sector?
Believe me, the border closure especially against those agricultural produce that our local farmers could produce here in Nigeria for me is an opportunity to tap into the goldmine of farming in Nigeria. It was during this border closure policy that we scaled up our irrigation farming; currently we have about 30 acres for irrigation farming with different plants such as vegetables, maize, sugarcane etc. We intend to increase the acres as the year winds up.
Can you evaluate the value chain in the agriculture sector, what are the opportunities that you think are in this industry?
The opportunities here are enormous, let us look at cattle as a case study, the products that you can get from this alone are many. Looking at Aquaculture too, I can tell you, there is a plethora of products can be derived from it as well.
What inspired you to go into agriculture?
Agriculture is in my blood, as a little boy in Ogbomoso, I grew up under a father who himself was an agricultural expert that reached the peak in that sector before he retired. Again, while in the secondary school, Agricultural Science was my best subject. I think all of these added up to make me what I am today.
There is a belief that agriculture requires huge capital, how much did you use to start your company?
This is one question that always makes me smile. Let me surprise you, I started with zero capital. This is because I started as a consultant to different farmers across many places in Oyo State and later in Nigeria as a whole. It was the funds I got form my consultancy services that I invested to set up a veterinary store in Ogbomoso, Oyo State. I am of the opinion that as a young man with great potential, I have no reason to roam the streets in search of a white collar jobs like many would do. So, I took the risks and ventured into the world of an agro entrepreneurship.
What are the challenges you face in the agricultural sector?
Of course, there is no business without its challenges; the first challenge for me after I realized that I needed to set up a well structured company was to raise capital. Another challenge is that of clients’ high expectation. It is so funny when some of our clients expect one to perform miracle on their birds, like making the fowls to lay 100 per cent even when some of these clients don’t listen to professional advice on an appropriate feeding formula for their birds.
What is the next move for rainbow agrotech in the new year?
That is a fantastic question; we are at the moment putting finishing touches to commissioning our multipurpose complex in Ilero, Oyo State Nigeria. It is our way of giving back to the society and contributing to the local economic growth of our host community, Oyo State and Nigeria in general.
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