Obasanjo, Oduntan Advocates Policy Coherence, Single-digit Interest Loans for Farmers

Raheem Akingbolu

Former President Olusegun Obasanjo has urged the federal government to prioritise food security by offering single-digit interest loans to farmers to further open up the Agric sector for more players.

The former President, who chaired the 2024 edition of Agriconnect in Lagos recently, argued that the Agric sector stands a good chance of lifting Nigeria’s economy, arguing that “any country that offers more than a single-digit loan to people in agribusiness is not helping farmers.”

The summit, themed, “Bridging the Divide: Fostering Collaboration and Innovation for a Sustainable Agricultural Future,” underscored the urgent need for concerted efforts to address the challenges facing the agricultural industry and to unlock its full potential.

Also, former President of Poultry Association of Nigeria (PAN), Dr. Ayoola Oduntan, who was one of the major speakers at the summit emphasised the critical need for policy coherence to enhance market access and build resilient food systems in Nigeria. 

Oduntan, who is also the Managing Director of Amo Farm Sieberer Hatchery Limited, spoke during a panel discussion titled, “From Farm to Table: Enhancing Market Access and Building Resilient Food Systems.” 

Oduntan addressed the challenge of inconsistent government policies hindering the advancement of agribusiness in Nigeria. 

He highlighted the perpetual cycle of new policies introduced by different ministers of agriculture without adequate consideration for the continuity of previous initiatives. 

“We have all the right ideas to take the agribusiness to where it should be but a major challenge has been the implementation of policies. In my over 30 years of experience in the agricultural sector, I have witnessed numerous policy shifts with each new Minister of Agriculture. This inconsistency hampers the progress of our agribusiness,” Oduntan remarked.