GLOBAL FOOD BASKET: A JOURNEY OF ABUNDANT ECONOMIC WEALTH

By David Chigaekpebi

Nigeria is blessed with a huge amount of arable land and currently boasts over 100 million heads of livestock and with the emphasis that the administration of President Muhammadu Buhari and Vice President Yemi Osinbajo have placed on agriculture, it is not surprising that it is receiving huge investments in this sector. Recently some Chinese investors were in the country upon invitation by the African Development bank (AFDB) and met with the Vice President looking to invest heavily in Agro related businesses. This in turn would address the food security and eventually transform Nigeria into a global food basket.

Vice President Yemi Osinbajo while receiving the Investors said the Federal Government will welcome partnerships and initiatives that will make Nigeria actualize its potential of being a global food basket. “Nigeria is constantly aiming to advance agricultural technologies to boost plant agriculture and livestock sectors so as to contribute to food security globally.”

Despite Nigeria’s huge investments in its oil & gas and mineral resources, agriculture still forms a big contributor of the country’s economy. With Nigeria no longer over depending on oil for its economic development, the vice president has taken a great step to focus on agriculture and agro-businesses, thereby extensively creating more employment opportunities and ebbing away poverty in the country.

It therefore means that this wave of new business suggests a profoundly encouraging investment climate for investors. Strategically positioned to trade with surrounding nations, Nigeria henceforth will be increasingly noted as an investment destination and ‘’Global Food Basket’’ as stated by the Vice President, Yemi Osinbajo.

Amidst such developments, it seems that agribusiness investment opportunities in Nigeria will now be as rich and diverse as the land itself.

Blessed with plentiful sunshine and rainfall, access to the fertile plains surrounding the life-giving River Niger and its tributaries, Nigeria's rich soils yield a vast array of crops, such as yam, beans, rice, maize, millet, other cereal grains, vegetables and fruits, including lemons, mangoes, grapefruits and oranges. Rivers within the country are also abundant sources of fish.
In the drier northern region livestock farming is the most prominent activity. An estimated 100 million heads of different animal species – namely cows, goats and camels.
Undoubtedly, if these and further investments both exterior and from within can be obtained, the country is on track to be a major contributor to the global food basket and the vice president, Yemi Osinbajo has surely embarked on a journey of abundant economic wealth for the people of Nigeria.


David Chigaekpebi, an agro-enthusiast writes from Nnewi