Expert Seeks Increased Investment in Nigeria’s Agricultural Sector

Gilbert Ekugbe

The Director of the Society for Corporate Governance Nigeria, Tijani Borodo, has stated that Nigeria can only win the tussle against hunger and poverty by addressing issues constraining food production with tactical and deliberate investment in the sector.

Borodo stated this at the Validation Workshop organised by the Society for Corporate Governance Nigeria in Lagos.

The workshop was aimed at reviewing the survey report on corporate governance and board structure of the agriculture sector in Nigeria.

In his keynote address, he stated that agriculture has been identified to be a pivotal mechanism for reducing poverty and fortifying local livelihoods nationwide.

Borodo, however, identified policy biases; underinvestment, mis-investment and lack of capacities underpin weak governance in agriculture, as some of the challenges bedeviling the sector.

According to him, there was need to engender the principles of good governance structures and related policies at all levels, if the agriculture sector is to thrive.

He said: “Where the tenets of corporate governance including accountability, fairness, transparency, and responsibility are adhered to and executed effectively, it can prevent corporate scandals, fraud, and the civil and criminal liability of a company. There is need for reforms to improve public sector capacity, efficiency and delivery. Investors must consider problems affecting the performance of agriculture ministries, agencies and extension services.

“Along with national and local partners, donors also have a role to play in improving governance in agriculture.”

Borodo further stated that in addition to the reforms at national and regional levels of governance, there is also a need for reforms in the global governance of agriculture.

On his part, Chief Executive Officer at Society for Corporate Governance Nigeria, Ms. Chioma Mordi, while presenting the survey carried out in partnership with AFOS Foundation, said the report was a comprehensive review of the sector across the various value chains.

The report recommended that the agricultural sector must be properly structured and segmented across the value chain in all ramifications.