In a bid to boost private sector investment in the agricultural value chain, Grow Africa, New Partnership for Africa’s Development (NEPAD), and Nigeria Agribusiness Group (NABG) have partnered to increase investment in agribusiness.
The signed Memorandum of Understanding (MoU) was aimed at bringing all players in the agricultural value chain under one roof and providing interventions for them through the government and donor agencies.
William Asiko, Chief Executive officer of Grow Africa while signing the tripartite agreement in Lagos said they have agreed to focus on cassava, rice and aquaculture among the priority value chains that would be developed, adding that private investors that showed interest in investing in the value chain would be empowered and guided to make the business viable.
Acknowledging that the development was a step in the right direction towards ensuring the agriculture sector attracts the right investments, he stressed that the relationship with NABG was a milestone partnership that will transform the economy by engaging different actors in the agricultural value chain to evolve business scale of the investments.
“We would analyse the policy commitment required, in order to make the investment happen, and we will get the government to commit to those policy commitments, to make the investment viable for the private sector.
Princess Gloria Akobundu CEO of NEPAD Nigeria, who was represented at the signing by Folayan Ayodele, Director, Programmes Development and Implementation, said forging the right partnership is crucial for the sector in order to realise its full potential for economic growth and job creation, particularly among farmers, women and youth.
Sani Dangote, chairman NABG said collaboration with different segment is needed so that players would channel all their resources towards ensuring mutual benefits for all, noting that it was not possible for a single player to succeed.
Emphasising that the private sector has the capacity to promote growth in agriculture, he tasked the Federal Government to create the enabling environment.
“This MoU is meant to share ideas, challenges, and to find common solutions for the rural, small, medium and large scale players, also agro processors for total value addition to their businesses.
“From the public to the private sector, we must sit together, on a common ground where all the players would be able to create trust and stability,” he said.