Agriculture is Solution to Nigeria’s Economic Downturn, Says Obasanjo

Ademola Babalola in Ibadan

Former President Olusegun Obasanjo on Saturday in Ibadan, the Oyo state capital called on President Muhammadu Buhari to take seriously the diversification efforts of his government from oil to agriculture with a view of bailing the country out of its current economic downturn.

Apart from the government, Obasanjo also charged all Nigerians to embrace agribusiness, saying as a former President he was proud to be seen and identified as a farmer because of the gains accruable from such venture.

The former President made the Remarks while delivering the maiden Eminent Persons Business Lecture, titled: “Agribusiness: TIME TO ACT IS NOW” organized by the University of Ibadan School of Business in partnership with the International Institute of Tropical Agriculture (IITA), Ibadan.

He said the fall in prices of oil at the world market which may be a blessing in disguise has contributed to economic hardship, collapse in businesses. He added that to overcome these challenges, all hands must be on deck to practically embrace agriculture and not just on papers.

While highlighting the importance of agriculture in the areas of economic growth, development and wealth creation, the former President maintained that agribusiness has potentials to stimulate industrialization; generate employment and engender economic growth.

Speaking on how to practically make agriculture a major source of revenue in view of the need to diversify the economy, Obasanjo said if truly the present government is determined to diversify the economy through agriculture, he maintained that attention must be given to the sector at the high level of government and incorporate all departments, ministries and agencies of government in the agricultural sector and not just the ministry of agriculture alone in order to make Nigeria a truly economically viable nation.

Further details later