Nigeria’s Agriculture Can Generate $50 Billion In GDP

News in brief: Dr. Victor Iyama, Chairman of a Nigerian agricultural commodity association, expressed confidence in Nigeria’s agricultural sector’s potential to generate over $50 billion in GDP. He emphasized the importance of investing in the sector for foreign exchange and food security, while urging stakeholders to work together to unlock Nigeria’s agricultural wealth.

Board of Trustees (BoT) Chairman of one of Nigeria’s agricultural commodity associations, Dr. Victor Iyama, has expressed optimism about the ability of Nigeria’s agric sector to earn over $50 billion in gross domestic profit (GDP).

He made the remark at an event hosted by the Federation of Agricultural Commodity Associations of Nigeria (FACAN), held in the nation’s capital city, Abuja.

Iyama said proper investment in the sector would bring about much desired foreign exchange for the government as well as ensure food security.

The BoT Chairman of the association described agriculture as Nigeria’s most important sector and a top earner among other sectors like solid minerals, information technology and entertainment. He urged stakeholders to put all hands on deck to harness the country’s wealth for the sake of posterity.

The event was a seminar titled Building Stronger Economy through Agro-Commodity Value Chain Development and International Cooperation and it witnessed local and foreign investors participation as well as representatives of several commodity associations.

Speaking further, Iyama called for Nigerians to participate in agriculture activities because it was a significant key in boosting food productivity as well as wealth creation.

President of the association, Alhaji Sheriff Balogun, said the union stood by the government’s resolve to significantly improve food security in the country. He mentioned that the state of emergency declaration on agriculture was in line with the association’s objective.

Balogun further enjoined all to be part of the agricultural revolution which his association has been championing in the past 10 years of its existence.