As the nation confronts challenges of food insecurity in some parts of the country, federal and state governments have been charged to redouble support and funding for smallholder farmers as a catalyst to drive the agro-economy sector.
Making a presentation at the 1st Annual Socio-Economic Summit organised by the Jericho Business Club (JBC), in Ibadan, Oyo State capital, over the weekend, the founder and Chief Executive Officer of Paltry International Limited, Mrs Oluyemisi Iranloye, noted that Nigeria food production capacity can only be explored if smallholder farmers and other key players in the agricultural industry are encouraged through funding and other critical incentives.
She also contended that power generation is crucial to the socioeconomic growth of the agricultural and manufacturing sectors in order to aid employment generation and free many Nigerians from the shackles of poverty.
The summit titled ‘Driving Agricultural Transformation in Oyo State Through Value Chain Integration for Sustainable Development’, also attracted economy experts from the African Development Bank (ADB), Federal Ministry of Power and other sectors.
According to Iranloye, “smallholder farmers face barriers to access latest agricultural developments, such as improved crop varieties. It is primarily due to the limited research dissemination, financial constraints, and unreliable extension services.”
Also speaking at the summit, Senior Special Adviser on Industrialisation to the president of the African Development Bank, Professor Banji Oyelaran-Oyeyinka, lamented that about 25 million Nigerians are suffering from food insecurity, stressing that leadership of countries in Africa must commit more resources to the agriculture sector.
In his remark, Minister for Power, Chief Adebayo Adelabu, said that President Bola Tinubu’s strategies to effectively address recurring challenges in the power sector is still on course, saying arrangements have been concretised to explore a bottom-up workable plan capable of giving Nigerians and the economic industry regular and affordable supply of electricity.
Delivering his keynote address, the president of Jericho Business Club (JBC), Chief Remi Babalola, said the “topic for this year’s summit titled ‘Driving Agricultural Transformation in Oyo State Through Value Chain Integration for Sustainable Development’, underscored the strides made by Oyo State government in the agriculture sector. ”
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