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The need to have more private investors in the Agricultural sector in order to promote growth and sustainability of all sectors has been stressed as the Lift Above Poverty Organisation (LAPO), on Thursday in Benin City, held a one-day webinar on “Promoting Financial Inclusion for Agriculture and Rural Development in Nigeria.”
This is even as the stakeholders at the event called for financial inclusion, especially for women in agriculture towards boosting food security and zero poverty in the country.
These were part of the arguments made by participants at the one-day discussion ceremony.
Speaking at the event, Former National Value Chain Consultant, Food and Agriculture Organization, Mr Babatunde Olarewaju, said there is a link between agriculture, women empowerment and food security
According to Olarewaju, women in agriculture face challenges in terms of access to land, credit, inputs, training, extension services, decision-making process and technology.
He added that having gender equality in the agriculture sector would go a long way in promoting food security.
On his part, Prince Ade Ajayi, while speaking on promoting private sector investment in the agricultural value chain, advocated for a practicable approach to solving the country’s agricultural problems.
Ajayi, Co-founder and National Coordinator, Corporate Farmers International, said private sector investment in agriculture is key in scaling up food supply as well as poverty reduction in the country.
He noted that investment in agriculture was a tangible asset that provides benefits to farmers as well as the community.
Also speaking at the event, Country Representative, Nigeria and Ghana, Farm Radio International, Benjamin Fiafor, opined that radio programmes can be used to communicate best practices in terms of gender needs to farmers.
Fiafor remarked that the radio programmes for farmers should be interactive where farmers should be able to ask questions, including about access to credits and grants.
Earlier, the Executive Director of LAPO, Dr Honestus Obadiora, said LAPO has continued to support agricultural development in the country through credit schemes, access to market and value chain addition for agricultural produces.
Obadiora said the theme of the webinar, ‘Promoting Finacial Inclusion for Agriculture and Rural Development in Nigeria’ was apt and emphasised the need to provide flexible financial opportunities for rural dwellers.
He said that the LAPO Rural Development Initiative disbursed N75.4 billion to 183, 538 clients, who are predominantly rural farmers between 2015 and July 2022.
He noted that the LAPO Micro Finance Bank disbursed over N35 billion to small-scale farmers from January 2012 to December 2021.
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