The Need For More Nigerian Youths In Agribusiness


UF Member

Production, processing, storage and distribution, inputs, financing and livestock, these and more are business opportunities in the agriculture sector, according to Alf Monaghan, the Chief Party for USAID, Nigeria Expanded Trade and Transport (NEXTT) project in Nigeria, at a recent event held in Lagos.
Earlier, experts in the agric sector have for sometime called for private sector participation in agribusiness and if statistics were anything to go by; the market potential in this industry is mindboggling. According to Cowrie Partners, a firm of commercial lawyers focused on finance and investments, Nigeria is adjudged a country with “immense agricultural potential,” with a population of 170 million providing a “huge market.”

But it seems that some private sectors may have been listening to the call, therefore, are participating in the agribusiness. A private equity fund that focuses on small and medium-sized enterprises in East Africa, TBL Mirror Fund and Sahel another fund for Agricultural Finance in Nigeria (FAFIN) with a target of $100million fund that focuses on SME agribusiness opportunities in Nigeria may be just what entrepreneurs intending to go into agribusiness need.

This provides opportunities for entrepreneurs who are looking to maximise the potential in the sector.

Currently, 40 per cent of the country’s 84 million hectares of arable land is cultivated and if one were to add the 263 billion cubic meters of water, according to the Cowerie Partners, one can begin to imagine the immense potential in the agriculture sector.