Business A.M
No Result
View All Result
Monday, March 30, 2026
  • Login
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
Subscribe
Business A.M
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us
No Result
View All Result
Business A.M
No Result
View All Result
Home Commodities

N12bn worth of agric produce wasted annually in Nigeria

by Admin
July 19, 2019
in Commodities

* As Obaseki pushes for agric-focused culture

Kenneth Afor

About N12 billion worth of agricultural produce in Nigeria perishes annually from the point of harvest to point of delivery at the markets, due to lack of storage facilities, experts and investors have said.

This is as Godwin Obaseki, governor of Edo State, called on Nigerians to imbibe an agriculture-focused culture, as they were before the discovery of oil in the country.

At an agribusiness food and security summit themed: “Fixing the Broken Linkages between Farm and Market, organised by Businessday Newspaper yesterday in Lagos, agricultural experts and investors bemoaned the poor food security in Nigerian, calling on the federal government to activate investments in agricultural produce storage to save farmers N12 billion being lost to wastage, as well as ensure availability of produce round the season.

Experts and investors who spoke at the event were Jamie Rixton, chief agronomist, Ellah Lakes Plc, Mr Ayodeji Balogun, country manager, AFEX Commodities Exchange, Rotimi Fashola, team head, Project, Elephant Group and Daniel Manzo Maigari, CEO Agrolog Innovative Agriculture Limited, among others.

Obaseki said, Nigeria’s agriculture sector would continue to have setbacks if the government do not find lasting solution to the scourge in the sector. To fix this, “the first thing we must do is to begin to think on how we can inculcate the culture of agriculture in us,” said Obaseki.

“Although, before the advent of crude oil, we have a strong culture for agriculture in Nigeria because at that time, agriculture formed the backbone of our development, not only does it provide food and security for us,” he noted.

According to him, one of the greatest disaster to agriculture in Nigeria is the abolition of the commodity boards and not putting in place anything that will help to perform the roles which these boards were performing.

“We need to understand that agriculture is now the way of life. Farming may not be profitable as trading which we now perfected as a people, there is a learning curve which we every agric person must go through”, he said.

Panelists at the event proffered solutions to agric supply chain problems in Nigeria.

Ayodeji Balogun, country manager, AFEX Commodities Exchange said agriculture is the major life line for economic growth in the country.

“What need to be done to get these commodities into the markets is there need to be market information, our grains need to be of good quality which can be compared globally. A systematic financing structure that balances both the supply chain and demand chain.

“Agriculture accounts for about 40 percent of Nigeria’s GDP and it is widely practice across the nation. This compared to more than 50 percent of the GDP in the Nederlands,” he noted.

Jamie Rixton, chief agronomist, Ellah Lakes Plc, said the current state of our inter-state roads roads needs to be fixed.

Rixton said, “If the roads are right the trucks are right. We need to have more refrigerated trucks that will take these produce from the farm to the markets.

“We must ensure that the needed skills for agriculture are actually acquired by the farmers and people should know what they are ready for and we should ensure produce from the farm are the best.”

Rotimi Fashola, team lead, projects, Elephant group, said, “Nigeria need to develop mechanization all the spectrum from land preparation, planting, harvesting and storage must be available for farmers. Our agricultural system needs to be mechanised.”

Admin
Admin
Previous Post

Bill Gates loses ‘second richest man’ seat to LVMH’s Bernard Arnault

Next Post

Wall St. edges higher on Microsoft’s beat, rate cut optimism

Next Post

Wall St. edges higher on Microsoft's beat, rate cut optimism

  • Trending
  • Comments
  • Latest
Igbobi alumni raise over N1bn in one week as private capital fills education gap

Igbobi alumni raise over N1bn in one week as private capital fills education gap

February 11, 2026

CBN to issue N1.5bn loan for youth led agric expansion in Plateau

July 29, 2025

How UNESCO got it wrong in Africa

May 30, 2017

Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

November 20, 2017

6 MLB teams that could use upgrades at the trade deadline

Top NFL Draft picks react to their Madden NFL 16 ratings

Paul Pierce said there was ‘no way’ he could play for Lakers

Arian Foster agrees to buy books for a fan after he asked on Twitter

Analysing Legend Internet beyond the NGX award

Who’s afraid of the T+1 settlement cycle of CSCS?

March 30, 2026
From potential to power:AfCFTA, industrialisation and Africa’s hidden balance sheet

AFRICA & THE THREE GLOBAL SHOCKS 

March 30, 2026
PHCCIMA makes strong showing at NBCC’s 2026 UK trade mission

PHCCIMA makes strong showing at NBCC’s 2026 UK trade mission

March 30, 2026
Cross River taps UNICEF to partake in Nigeria’s $100bn waste recycling potential

Cross River taps UNICEF to partake in Nigeria’s $100bn waste recycling potential

March 30, 2026

Popular News

  • Igbobi alumni raise over N1bn in one week as private capital fills education gap

    Igbobi alumni raise over N1bn in one week as private capital fills education gap

    0 shares
    Share 0 Tweet 0
  • CBN to issue N1.5bn loan for youth led agric expansion in Plateau

    0 shares
    Share 0 Tweet 0
  • How UNESCO got it wrong in Africa

    0 shares
    Share 0 Tweet 0
  • Glo, Dangote, Airtel, 7 others prequalified to bid for 9Mobile acquisition

    0 shares
    Share 0 Tweet 0
  • Insurance-fuelled rally pushes NGX to record high

    0 shares
    Share 0 Tweet 0
Currently Playing

CNN on Nigeria Aviation

CNN on Nigeria Aviation

Business AM TV

Edeme Kelikume Interview With Business AM TV

Business AM TV

Business A M 2021 Mutual Funds Outlook And Award Promo Video

Business AM TV

Recent News

Analysing Legend Internet beyond the NGX award

Who’s afraid of the T+1 settlement cycle of CSCS?

March 30, 2026
From potential to power:AfCFTA, industrialisation and Africa’s hidden balance sheet

AFRICA & THE THREE GLOBAL SHOCKS 

March 30, 2026

Categories

  • Frontpage
  • Analyst Insight
  • Business AM TV
  • Comments
  • Commodities
  • Finance
  • Markets
  • Technology
  • The Business Traveller & Hospitality
  • World Business & Economy

Site Navigation

  • Home
  • About Us
  • Contact Us
  • Privacy & Policy
Business A.M

BusinessAMLive (businessamlive.com) is a leading online business news and information platform focused on providing timely, insightful and comprehensive coverage of economic, financial, and business developments in Nigeria, Africa and around the world.

© 2026 Business A.M

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Technology
  • Finance
  • Comments
  • Companies
  • Commodities
  • About Us
  • Contact Us

© 2026 Business A.M