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NABG: Advancing Agriculture For Sustainable Growth

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2 years ago

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Read the journey of Nigeria’s agricultural sector and its potential for growth and learn about the Nigeria Agribusiness Group (NABG’s) efforts to uplift farmers and create employment opportunities.

Over the past decade, Nigeria’s agricultural sector has faced significant challenges despite various attempts by previous governments to improve its productivity. Factors such as insurgency, lack of affordable inputs for farmers, and other obstacles have hindered the sector’s progress.

However, research indicates that agriculture engages around 70% of Nigerians, highlighting its critical role in providing employment opportunities and driving economic growth. To address these issues and expand the frontiers of agricultural development, the Nigeria Agribusiness Group (NABG) has emerged as a leading civil society organization dedicated to growing Nigeria’s agricultural economy.

Role Of Nigeria Agribusiness Group (NABG)

The NABG, comprising influential business players in the agricultural sector, collaborates with local and global donor agencies and works closely with the government to enhance Nigeria’s agricultural economy. By creating an enabling environment for private capital investment and focusing on broadening the frontiers of agricultural growth, the NABG aims to lift millions out of poverty and generate employment opportunities for the country’s youth.

The Pre-Presidential Technical Meeting

Recently, the NABG organized a pre-presidential technical meeting to evaluate the agricultural sector’s performance over the past eight years. The objective was to set an agenda for the upcoming presidential roundtable summit, scheduled to take place in Abuja. The meeting brought together key partners, including Harvest Plus, the International Fertiliser Development Centre (IFDC)/HortiNigeria, the International Institute for Tropical Agriculture (IITA), and the Global Alliance for Improved Nutrition (GAIN). These stakeholders engaged in insightful discussions to identify critical areas for the sector’s development.

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Objectives Of The Technical Meeting

The technical meeting served as a platform to bring together diverse perspectives and foster collaboration among stakeholders. The key objectives included shaping policies, exploring emerging trends, promoting sustainable agribusiness development for the next four years, and encouraging open and constructive dialogue on pressing issues in Nigeria’s agribusiness sector. Through evidence-based discussions, participants aimed to address challenges and develop innovative solutions while sharing their insights and experiences.

Focus Areas For Agricultural Development

The technical meeting aimed to lay the groundwork for the upcoming presidential roundtable summit, focusing on key aspects such as the digital transformation of the sector, integration of the value chain, and enhancing national food security. Participants delved into topics such as agric technologies, precision agriculture, market trends, consumer preferences, and the assessment of environments conducive to sustainable farming practices. Furthermore, the meeting highlighted the need to review agricultural policies, regulatory landscapes for export and global trade, logistics in farm-to-table movements, and addressing post-harvest losses and weak storage facilities.

The Importance Of Collaboration And Support

Recognizing the significance of collective efforts, stakeholders emphasized the crucial role of collaboration in achieving food security and improving nutritional outcomes. The Country Manager of Harvest Plus, Yusuf Dollah, stressed the importance of maintaining and sustaining food production quality for both local consumption and exports. Dr. Michael Ojo, the Country Director of the Global Alliance for Improved Nutrition (GAIN), emphasized the need to address malnutrition, food insecurity, and limited economic opportunities, especially for the 80% of Nigerians facing these challenges.

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Supporting Smallholder Farmers And Incentives

To transform agriculture and support smallholder farmers, stakeholders highlighted the necessity of creating an enabling environment and investing in requisite technologies. Dr. Michael Ojo, Country Director of GAIN, emphasized the role of governments and relevant stakeholders in providing incentives and support to smallholder farmers. Dr. Abdullahi Umar, the representative of IFDC/HortiNigeria, pledged their willingness to collaborate and partner with the NABG in advancing the growth of the agricultural sector in Nigeria.

The Planned Presidential Retreat

Building on the collaborative efforts of the NABG and other stakeholders, the upcoming presidential retreat holds the promise of unveiling new strategies for Nigeria’s agricultural development. In the face of challenges posed by climate change, it is imperative to take deliberate measures to address the issues affecting agriculture. One potential game-changer is the proposed project to recharge Lake Chad by channeling the Bangi River, which could create opportunities for massive agricultural production and establish agro-industrial corridors and hubs for the export of food and agro-allied products.

Climate Change Policies And Opportunities

The NABG has been actively involved in climate change policies, collaborating with the National Council for Climate Change and other critical stakeholders. Agricultural activities contribute significantly to Nigeria’s national determined contributions (NDCs), making it crucial to develop implementation frameworks for climate-smart agriculture. Such frameworks, when ratified and implemented, will guide policy efforts and provide tools for monitoring and evaluation. Furthermore, Nigeria has the potential to leverage carbon trading opportunities, enabling communities to adapt and build resilience while benefiting from economic mobilization.

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Looking Ahead To The Presidential Roundtable Retreat

As Nigeria eagerly awaits the first presidential roundtable retreat on agribusiness, there is a growing sense of optimism that the country is poised to unleash its agricultural potential. The NABG, along with its partners, aims to present a comprehensive report to the new administration, highlighting the challenges hindering the sector’s development and providing actionable recommendations. By walking the talk and fostering collaboration among stakeholders, Nigeria can pave the way for sustainable growth and unlock the immense opportunities within the agricultural sector.

The agricultural sector plays a crucial role in Nigeria’s economy, and there is a pressing need to overcome the challenges that have hampered its growth. The Nigeria Agribusiness Group, in collaboration with local and global partners, is committed to driving the country’s agricultural development by creating an enabling environment, fostering collaboration, and implementing innovative solutions. The recent pre-presidential technical meeting and the upcoming presidential roundtable summit offer valuable platforms for stakeholders to shape policies, address critical issues, and explore opportunities for sustainable agribusiness. With collective efforts and a renewed commitment to agricultural advancement, Nigeria can embark on a transformative journey towards realizing its agricultural potential and ensuring food security for its citizens.

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Business

Bayelsa Hits N4.2bn Monthly IGR, Credits e-Ticketing System

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4 days ago

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March 30, 2025

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The Bayelsa State Internal Revenue Service has announced a historic increase in the state’s Internally Generated Revenue hitting N4.2 billion in a single month, marking a 320 per cent surge from previous figures.

The development, disclosed in a statement by BIRS on Saturday, was attributed to the introduction of an electronic ticketing (e-ticketing) system, which has eliminated cash leakages, curbed corruption, and improved transparency in tax collection.

BIRS chairman, Daniel Eniekezimene,
stated that the government transitioned to a fully automated tax collection system, ensuring that all payments from transport operators, traders, and businesses go directly into state coffers.

Unlike the old manual system, the e-ticketing platform generates instant receipts, making transactions traceable and reducing opportunities for extortion.

“This is a turning point for Bayelsa. We have blocked revenue leakages and ensured that every kobo collected goes straight into government accounts,” Eniekezimene stated.

A commercial tricycle operator, Isaac Tamuno, described the shift as a relief.

No individual is bigger than PDP – Bayelsa gov
He stated, “Before now, we never knew where our money was going. But with this e-ticket, we get receipts instantly, and no one can cheat us. It’s a big change for us.”

The chairman said the surge in IGR is expected to fund critical infrastructure projects, education, and healthcare.

Speaking on the significance of the revenue jump, Governor Douye Diri said, “This unprecedented revenue growth means we can now invest more in roads, schools, and healthcare. Our administration is committed to ensuring that every Bayelsan benefits from these reforms.”

Bayelsa’s success with e-ticketing is already being touted as a model for other states struggling with low IGR.

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Eniekezimene emphasised the broader implications of the reform.

“What we have achieved in Bayelsa proves that technology is the way forward. Other states facing similar challenges should consider e-ticketing to improve revenue collection and accountability,” he stated.

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Business

Stock market declines further by N31bn

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6 days ago

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March 28, 2025

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Trading activities on the Nigerian Exchange Ltd. (NGX) on Thursday closed on a negative note, with the market capitalisation declining further by N31 billion.

Specifically, the NGX market capitalisation fell by N31 billion, or 0.05 per cent, to close at N66.109 trillion from N66.140 trillion recorded on Wednesday.

Also, the All-Share Index dropped by 0.05 per cent, or 49.26 points, to close at 105,426.12, against 105,475.38 posted the previous day.

The negative performance was attributed to reactionary behaviour exhibited by some investors.

The market breadth closed negative, with 29 losers and 23 gainers.

On the losers’ chart, John Holt declined by 10 per cent to close at N7.74, while Chams Holding dropped by 8.52 per cent to close at N2.04 per share.

Secure Electronic Technology fell by 8.42 per cent to close at 54 kobo, and May & Baker Nigeria lost 7.95 per cent to close at N8.10 per share.

Similarly, UPDC Real Estate Investment Trust declined by 6.90 per cent to close at N2.70 per share.

On the gainers’ chart, FG202031S1 rose by 12.09 percent to close at N97.52, while The Initiates Plc soared by 9.85 per cent to close at N4.46 per share.

Universal Insurance increased by 9.09 per cent to close at 60k, and Mutual Benefits rose by 9.09 per cent to close at 96 kobo per share.

Also, Royal Exchange gained 8.99 percent to close at 97k per share.

A total of 423.62 million shares, worth N9.181 billion, were exchanged across 11,393 transactions.

This is compared to 5.760 billion shares, worth N342.605 billion, exchanged across 10,908 transactions recorded earlier.

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Transactions in Access Corporation shares topped the activity chart, with 64.962 million shares worth N1.430 billion.

Zenith Bank followed with 41.504 million shares valued at N1.972 billion, while Fidelity Bank transacted 40.703 million shares worth N773.215 million.

Secure Electronic Technology sold 38.419 million shares valued at N20.832 million, and Tantalizers traded 31.503 million shares worth N89.914 million.

Meanwhile, Tajudeen Olayinka, Chief Executive Officer, Wyoming Capital and Partners, said that considering the recent impressive financial results released by United Bank for Africa and Zenith Bank, the stock market should have followed a positive trend.

Olayinka attributed the negative performance to reactionary behaviour from some investors who were not pleased with Zenith Bank’s dividend and reduced share price.

He further described this as mispricing and misjudgment by some investors. (NAN)

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Business

Senate Moves To Slash Data Prices, Calls For FG’s Intervention

Published

7 days ago

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March 27, 2025

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The senate has called on the federal government to take urgent action to address the rising cost of data services in the country.

During Wednesday’s plenary, lawmakers debated a motion sponsored by Asuquo Ekpeyong, senator representing Cross River south, highlighting the financial strain caused by recent hike in data tariffs.

Ekpeyong warned that the surge in data costs was a major setback for young Nigerians who depend on the internet for their livelihoods.

He argued that many young people use digital platforms for freelancing, e-commerce, content creation, and software development, making affordable internet access crucial to their economic survival.

“Telecommunication providers in Nigeria have recently increased the cost of data services by as much as 200%. A move that has placed significant financial strain on millions of Nigerians, especially young people who rely on the internet for their livelihood,” he said.

“Young Nigerians have embraced the digital economy, leveraging the internet for various income-generating activities including freelancing and remote work, direct marketing and social media management, e-commerce, content creation on various platforms, online training, software development, web design, mobile app creation, content creation of various platforms, online education, etc.

“The senate notes that young Nigerians have embraced the digital economy, leveraging the internet for their livelihood, leaving them heavily dependent on mobile telecommunications companies for internet access, and that the sudden and substantial increase in data cost threatens their economic survival and limits access to critical digital services.

“The senate is further concerned that the reasons provided by telecom providers for the data price hike, including high operational costs of favourable exchanges, are untenable, and appears that instead of addressing the root causes of the high cost of doing business in Nigeria, the burden is being unfairly transferred to end-users.

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“Senate is aware that the high cost of doing business in Nigeria is driven by multiple challenges, such as increased operational risk and insurance costs.

“The senate believes that urgent government intervention is required to ensure that affordable internet access remains available to all Nigerians, particularly to the young Nigerians who are at the backbone of Nigeria’s digital economy.

“The senate accordingly resolves to urge the federal government to engage with telecommunication providers to review the recent increase in data costs and ensure the pricing remains fair and affordable for all Nigerians.”

The motion was seconded by Titus Zam, senator representing Benue north-west, and received the support of other lawmakers.

Victor Umeh, senator representing Anambra central, criticised not just the rising cost of data but also increases in telecom charges and Pay TV tariffs, accusing regulatory bodies of failing to protect Nigerians.

“If you buy airtime or data, within minutes, you are out of it. Nigerians are suffering so much, and we cannot turn a blind eye,” he said.

Sadiq Umar, senator representing Kwara North, warned that the price hike disproportionately affects young people, who form a significant part of Nigeria’s workforce.

“These service providers must make life easier for young Nigerians, not harder. The government needs to step in before this situation worsens,” he said.

Lawmakers urged the federal government to engage telecom providers to review and reduce the recent increase in data costs.

They also called on the ministry of communications, innovation, and digital economy to develop a policy framework for affordable internet access.

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Lawmakers further recommended the creation of tech hubs across the country to provide free or subsidised internet for entrepreneurs, students, and innovators.

They also directed the senate committee on communications to investigate the factors driving high data costs and propose solutions to make the telecom sector more business-friendly.

Following the debate, Senate President Godswill Akpabio put the motion to a vote, and it was unanimously adopted.

Akpabio praised Ekpeyong for raising the issue, saying the intervention would support young entrepreneurs and ensure fair pricing in the digital economy.

“This motion, when implemented, will assist our young entrepreneurs, not only to remain in business but also to ensure that they have affordable pricing that allows them to generate profits,” he said.

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