Nigeria Has Potentials To Lead Africa’s Agriculture Industry — Adesina

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Yemisi Izuora

 The President African Development Bank, Akinwumi Adesina, has said that  Nigeria has the potential to be “a power house in food and agriculture” on the African continent.

Adesina, who made the observation during the Bank’s Annual Meeting in Malabo, expressed delight that the country had introduced a lot of agricultural initiatives to boost food production.

According to him, this will go a long way in ensuring food security in Nigeria and the continent at large.

Adesina said with the present administrations focus on agriculture, it would further boost the nation’s economy.

He said: “I believe that agriculture is not a way of life, agriculture is a business, Nigeria must be a power house in food and agriculture.”

According to him, this is because Nigeria is the only country like the AfDB that has a fund of its own

He said: “We have the African Development Bank, we have the African Development Fund and we have the Nigeria Trust Fund.

Adesina said Nigeria was a big player on the continent, especially in the area of trade.

He said: “If you look at the economic growth rate in Africa today, you look at West Africa, it is only  about 3.3 per cent, East Africa is about 5.7 per cent and North Africa is about 4.3 per cent

“But the 3.3 per cent part of it is because of the weight of Nigeria in terms of the economy.

“Nigeria has always been a leader and I am sure it will continue to do so.”

The AfDB president said though the country was just coming out of recession, he was positive that the future was bright economically as Nigeria addresses critical structural problems of energy, infrastructure and making agriculture business.

He said: “We are just putting in about over $230 million in the north of Nigeria with the North East reconstruction effort so as to build more hospitals, construct more roads and support a lot of displaced people that are in that particular area.

“It is part of what they call the Buhari plan.

“And the other thing that we are also doing is that we have provided $200 million to help to deal with the liquidity causing problem that the Nigeria Bulk Electricity Trader company has so that the electricity system in Nigeria can work.”

According to him, these initiatives will also go a long way in creating jobs for Nigerians.

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