The Abuja Chamber of Commerce and Industry (ACCI) is dedicated to developing Nigeria’s economy, with an emphasis on industries that make significant contributions to the nation’s GDP, such as agriculture. Dr. Emeka Obegolu, President of the ACCI, made this point clear when he opened the first Food and Allied Technologies (FARMFATECH) Expo in Abuja. Agro-allied Investment prospects and policies that promote economic and personal progress are the two main objectives of the event, which is being organised in collaboration with Autodex Nigeria Limited and other partners.
To advance agricultural technology, FARMFATECH aims to build international collaborations, particularly between China and Nigeria. By exhibiting innovative Technology and investment opportunities that have the potential to transform farming methods, the Food and Allied technology (FARMFATECH) Expo is well-positioned to strengthen Nigeria’s agricultural industry. The expo helps to exchange ideas and knowledge by bringing together stakeholders from both domestic and foreign markets, especially in fields like mechanisation, Agro-processing, and Sustainable Agricultural methods. One significant advantage is the chance to establish international alliances, particularly with nations like China, in order to import cutting-edge agricultural equipment and raise farm output.
It provides a forum for information exchange that can boost the industry.
Also, the exhibition works with legislators to create legislative and incentive frameworks that encourage Innovation in the industry. In order to lessen Nigeria’s reliance on imported machinery, cut production costs, and improve food security, FARMFATECH seeks to provide access to contemporary tools and highlight the possibility of local equipment manufacture. In the end, the expo provides a forum for cooperation, funding, and information exchange that can promote development and long-term growth in the Agriculture industry. Dr. Nnamdi Ezeani, the chairman of Autodex Limited, described the company’s production and assembly of agricultural equipment, citing accomplishments such as locally manufactured tractors and Productivity gains through their services.
Over the years, Autodex has put hundreds of tractors and farm equipment together. Furthermore, in order to fully realise their agricultural potential, African countries must invest in finance, upgrade infrastructure, and modernise agricultural techniques, according to Mr. Eric Intong, Acting Group Managing Director of Afreximbank. The key components of Afreximbank’s strategy include financing agricultural equipment, Export development, and industrialisation in order to foster regional commerce and create sustainable food systems throughout Africa. Nigeria’s Economy is based mostly on its agricultural sector, which makes a substantial contribution to GDP and jobs.
Recent initiatives seek to modernise and revitalise agriculture.
According to recent figures, over 70% of Nigeria’s workforce is employed in agriculture, which contributes between 23-25% of the nation’s GDP. Snails like cassava, maize, and rice are important products in this extremely varied industry, which also includes cattle, fishery, forestry, and agricultural cultivation. Nevertheless, despite its significance, the industry has not reached its full potential due to issues including antiquated farming methods, poor infrastructure, and restricted access to financing. In order to meet local and international demands, recent initiatives like partnerships and expos seek to modernise and revitalise agriculture.
Nigeria and China’s expanding agricultural relationship is a component of a larger plan to implement contemporary methods and technologies to increase productivity. As a leader in agricultural innovation and mechanisation worldwide, China has been supporting Nigeria with Infrastructure projects, equipment supply, and knowledge transfer. It is anticipated that this partnership will increase crop yields, decrease post-harvest losses, and speed up mechanisation in Nigerian agriculture. China, for example, has already introduced hybrid rice varieties and sponsored Irrigation projects, increasing yields by up to 50% in some locations.
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One noteworthy instance of a successful partnership is the Green Alternative Program, which was started in association with foreign organisations with the goal of increasing agricultural output in order to diversify Nigeria’s economy. Because to this project, rice output significantly improved, and by 2019, Nigeria was the largest producer in Africa, lowering the nation’s dependency on imports and saving billions of dollars in foreign cash. International cooperation has the potential to greatly improve Nigeria’s agricultural Sustainability and productivity, as these programs have shown.