FG: Nigeria Lost $9bn Annually in Agric Sector

By Victor Ogunje in Ado Ekiti

The Minister of State for Agriculture, Senator Heineken Lokpobiri, has disclosed that the country was losing a staggering sum of $9 billion annually due to poor investment in agriculture before President Muhammadu Buhari came to power in 2015.

The minister said Nigeria was also losing over 240 million metric tonnes of fish production in the world market that could have increased foreign earnings and boost the economy.

The minister spoke yesterday at Afe Babalola University, Ado Ekiti, during a lunch organised in his

honour by ABUAD’s founder, Chief Afe Babalola (SAN).

Lokpobiri stated that due to government’s laxity, many of the country’s agricultural products were being exported  to other West African nations and branded in the names of those countries after processing , making  Nigeria  to lose revenue earnings.

“Before President Buhari came,  Nigeria was  losing $9 billion revenue earnings annually in agric sector .

“In Nigeria, we are not producing enough fish to feed our population; that is why we are relying heavily on importation. The deficit between demand and supply was  2.5 million metric tonnes annually; this is about 320 containers . You can imagine the quantum of revenue we lost to low production in this sector alone.

“Knowing that our products were being taken to other West African nations to be processed and rebranded , we introduced certification policy for all our products in order to have right and proper  certificates for our products and in order not to  affect  the Gross Domestic Products(GDP) negatively.

“When I visited Belgium, the Minister of Agriculture told me the country’s annual revenue earning in agric sector  was 35 billion Euros. This is a country with less than five million population.

“He further told me that the difference between agriculture in Africa and the West is Technology and innovation. That was why the FG in partnership with the World Bank earmarked a sum of $250 million to train young graduates in agribusiness.

Lokpobiri urged all Nigerian universities to emulate ABUAD’s landmark exploits in farming, describing the university as setting a pace for the country to actualise food security status.

He expressed fear that the country may witness serious famine in future with the projection that its  population may hit 250 million by 2030, warning that it is high time governments started planning to checkmate such occurrence.

The minister promised that the federal government will partner ABUAD in the area of agriculture and training of young graduates to boost food production.

He said the 400 -bed Afe Babalola University Teaching Hospital has launched the country on the world’s map of medical tourism, describing it as a wasteful effort for any Nigerian to be seeking medical treatment abroad with the facilities in the hospital.

“Our universities must pay attentions to technology and innovation. They must emulate what ABUAD is doing in agriculture sector, because I wonder what would happen to us in future if we cannot feed  just 180m population.

“We are proud to say that ABUAD has become the pride of the nation. It is setting the standard for food security in Nigeria.

“All these accounted for why President Muhammadu Buhari said we must produce what we eat. He reduced taxes in agriculture to attract investors to Nigeria. We are also taking pragmatic steps to increase productivity in the sector,” he said.

On the ABUAD teaching hospital, Lokpobiri said : “The era when people are seeking medical tourism in Dubai, India and USA is gone. Why must you struggle to get visas again when you have ABUTH. The personnel and facilities there are second to none”.