A professor of Agricultural Economics and Farm Management in the University of Ilorin, Opeyemi Ayinde, has stressed the importance of taking risks in agriculture innovation and promoting gender inclusivity.
Delivering the 251st inaugural lecture of the university, titled, The risk of not taking risk in agricultural innovation and gender inclusivity, Professor Ayinde emphasized the need for strategies to enhance agricultural risk management, dissemination and adoption of innovation, and substantial growth in Nigeria’s agricultural sector while empowering farmers.
One of the key recommendations Ayinde highlighted was the promotion of financial innovation and access to credit for small-scale farmers.
“By creating financial products tailored to farmers’ needs and increasing access to agricultural credit, farmers can better manage financial risks and invest in their operations, ultimately increasing productivity and resilience to market fluctuations. Ayinde also suggested the introduction of innovative financial solutions such as index-based insurance.
Another recommendation she highlighted was the provision of information and training for farmers.
“By enhancing access to information and providing training programs, farmers can make more informed decisions and implement strategies to manage risks effectively. These programs can also empower farmers to adopt best practices and innovative technologies, enhancing their risk management capabilities.
Professor Ayinde stressed the importance of diversification of income sources as a crucial risk management strategy. Encouraging farmers to diversify their investments in agriculture and non-agricultural sectors can reduce the impact of individual risk factors.
Recognising the significance of social networks in facilitating the adoption of agricultural innovations, Ayinde recommended establishing and supporting social groups that connect farmers with researchers. This network can enhance the dissemination of crucial information and accelerate innovation adoption.
Promoting gender-inclusive agricultural research was also highlighted as imperative. Ayinde emphasized the need to involve both male and female farmers in the selection and development of agricultural innovations to ensure equitable access to resources and technology. Empowering women in agriculture, improving their access to resources, and involving them in decision-making processes were stressed as essential steps towards achieving self-sufficiency in crop production.
She also highlighted the importance of promoting awareness among farmers about the risks associated with climate change. Encouraging the adoption of climate-resilient crop varieties and environmentally-friendly technologies were emphasized as necessary steps to stabilize farmers’ incomes and increase agricultural productivity, especially in regions prone to climate-related risks.
To maintain low inflation rates and stabilize the country’s economy, Professor Opeyemi Ayinde stressed the need for a comprehensive policy on agricultural surplus management. Collaboration between the government, private institutions, and farmers’ associations is crucial in encouraging farmers to absorb excess agricultural output during times of surplus and ensure its distribution to the appropriate sectors, thereby curbing inflation.
Effective governance and government support were identified as vital in risk management.
She emphasised the importance of governance systems that promote transparency, accountability, and resilience within the agricultural sector, creating a conducive environment for risk awareness and management.
The lecture dwelled on the urgent need to prioritize agricultural risk management and gender inclusivity in Nigeria. Implementing these strategies can drive substantial growth in the agricultural sector, empower farmers, and lead to increased agricultural productivity and resilience to market fluctuations.
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