15 Views

Is Agriculture Nigeria’s New Oil?

According to the Founder and CEO Agrolay Ventures, Ada Osakwe, Agriculture is the new oil because Nigeria is in a situation where there is receding oil price; and Nigeria cannot continue to depend on it for revenues. She said this while speaking with CNBC Africa.

She added that the country has over 18 million hectares of arable land saying the country should put that land to good use.

“We have the people, resources, water and a booming consumer market; agriculture should help us rebalance our economy and move things away from oil dependency.”

Osakwe said agriculture is not only about making money but also changing lifes.

Emmanuel Ijewere, Chairman Bestfoods farms lamented the failure to plan and anticipate challenges.

“If we had done what we were supposed to have done many years ago, we wouldn’t be reeling from the fall in oil price,” Ijewere said.

He called on young people to consider venturing into the agriculture space.

“All young people left rural areas were agriculture is practiced into urban areas pursuing sectors such as banking and oil. We have to run three times fast so as to be where we were ten years ago. We need new ideas and new technologies.”

Ijewere says the future is in the hands of the country’s younger generation who have the strength and ideas to innovate in the agriculture sector.

“Our youths are the basic source of change we are looking for. Going forward we need youths to come up with new ideas so we can speed the transition into agriculture,” she added.

Other than food, the sector has the potential to create jobs.

Former President, Goodluck Jonathan, launched the Agricultural Transformation Agenda in 2011.

The initiative sought to add 20 million tonnes of food to domestic food supply by 2015 and create 3.5 million jobs along the agricultural value chains.

Source: CNBC Africa

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Leave a Comment

Your email address will not be published.

Latest Posts

Fayemi’s Wife, Erelu Bisi, Appointed as Visiting Senior Research Fellow at London College
Best of Nigeria
23 views
Best of Nigeria
23 views

Fayemi’s Wife, Erelu Bisi, Appointed as Visiting Senior Research Fellow at London College

PH - October 18, 2017

Wife of the Minister of Mines and Steel Development, Erelu Bisi Fayemi, has been appointed Visiting Senior Research Fellow of the prestigious King’s College, London. Mrs Fayemi,…

Diamond Bank Rated Best Bank In Financial Inclusion
Best of Nigeria
21 views
Best of Nigeria
21 views

Diamond Bank Rated Best Bank In Financial Inclusion

PH - October 18, 2017

Diamond Bank has been recognized as the Best Bank in Financial Inclusion Services and the Mobile Banking App of the Year at the 2017 Businessday Banking awards…

Why Nigeria needs land data ’
Business
24 views
Business
24 views

Why Nigeria needs land data ’

PH - October 18, 2017

Estate surveyors have been underutilised by policymakers in national development. In this interview with Tunde Alao of Tribune, Victor Adekunle Alonge, a fellow of the Nigerian Institution…

NDIC Wins Award On Banking Excellence
Business
28 views
Business
28 views

NDIC Wins Award On Banking Excellence

PH - October 18, 2017

Nigeria Deposit Insurance Corporation (NDIC) has been conferred with the Special Recognition and Commendation Award for Excellence in Banking (Public Service) at the Business Day Banking Awards…

Gani Adams Reveals Why He Accepted To Be Aare Ona Kakanfo Of Yorubaland
Art, History and Culture
26 views
Art, History and Culture
26 views

Gani Adams Reveals Why He Accepted To Be Aare Ona Kakanfo Of Yorubaland

PH - October 18, 2017

THE Aare Ona Kakanfo of Yorubaland, Otunba Gani Adams, said on Tuesday that the major reason why he opted to accept the chieftaincy title is to further…

UBA Emerges Best Bank In Support Of Real Sector At Banking Awards
Best of Nigeria
29 views
Best of Nigeria
29 views

UBA Emerges Best Bank In Support Of Real Sector At Banking Awards

PH - October 18, 2017

Pan-African banking group, United Bank for Africa Plc, at the weekend was recognised for its extraordinary support of the real sector as it won best bank in…

Wizkid Breaks Record, Becomes First African Artist To Vie For ‘Best International Act’ At MOBO Awards
Entertainment
46 views
Entertainment
46 views

Wizkid Breaks Record, Becomes First African Artist To Vie For ‘Best International Act’ At MOBO Awards

MT - October 18, 2017

  On Tuesday morning, the nominees for the 2017 MOBO Awards were announced and our very own starboy, Wizkid is the only African artist vying for the…

Why Another Attempt At Power Devolution May Fail – Saraki
Politics
43 views
Politics
43 views

Why Another Attempt At Power Devolution May Fail – Saraki

PH - October 18, 2017

The President of the Senate, Dr. Abubakar Bukola Saraki, has disclosed that overheating discourse on the devolution of power might stall another attempt to get it passed…

Van Vicker Marks 14th Wedding Anniversary In The Most Beautiful Way
Entertainment
46 views
Entertainment
46 views

Van Vicker Marks 14th Wedding Anniversary In The Most Beautiful Way

MT - October 18, 2017

    Popular Ghanaian actor, Van Vicker and his wife, Adjoa took to Instagram to celebrate 14 blissful years of marriage. The couple have actually known each…

Felabration 2017: How Wizkid Helped This Crippled Fan Is Totally Heartwarming
Entertainment
44 views
Entertainment
44 views

Felabration 2017: How Wizkid Helped This Crippled Fan Is Totally Heartwarming

MT - October 18, 2017

Putting up an impressive performance at Felabration 2017, an event hosted in honour of Nigeria’s music legend, Fela who Wizkid said greatly influence him, the StarBoy Records…

VIDEO: Watch Gleeful Moment Davido Arrived Home From Panti Police Station
Entertainment
55 views
Entertainment
55 views

VIDEO: Watch Gleeful Moment Davido Arrived Home From Panti Police Station

MT - October 18, 2017

A video now shows the moment Davido arrived to his home in Lekki as a free man -ready to go back to making music after being released…

Tinubu Speaks on Gani Adams’ Emergence as Aare Ona Kakanfo of Yorubaland
Art, History and Culture
54 views
Art, History and Culture
54 views

Tinubu Speaks on Gani Adams’ Emergence as Aare Ona Kakanfo of Yorubaland

PH - October 18, 2017

Bola Ahmed Tinubu has congratulated the emergence of Gani Adams as the next Aare Ona Kakanfo of Yorubaland. “Dear Otunba, I congratulate you on your appointment as…

Why Nigeria Needs PDP to be as Strong as APC – Obasanjo
Politics
34 views
Politics
34 views

Why Nigeria Needs PDP to be as Strong as APC – Obasanjo

PH - October 18, 2017

Nigeria's former President Olusegun Obasanjo has reiterated that good governor in Nigeria is hinged on a strong opposition party. This way the party in power will not…

Nwankwo Kanu Launches N1 Billion Jackpot Lotto To Support Kanu Heart Foundation
Food and Health
53 views
Food and Health
53 views

Nwankwo Kanu Launches N1 Billion Jackpot Lotto To Support Kanu Heart Foundation

PH - October 17, 2017

Legendary Nigerian footballer and philanthropist, Nwankwo Kanu, is launching the biggest lotto in Africa to raise funds for the Kanu Heart Foundation (KHF) (www.KanuHeartFoundationNg.com) and help build…

6 Reasons Why Senator Abaribe Applied To Be Discharged As Nnamdi Kanu’s Surety
Politics
76 views
Politics
76 views

6 Reasons Why Senator Abaribe Applied To Be Discharged As Nnamdi Kanu’s Surety

PH - October 17, 2017

The Senator representing Abia South Senatorial District, Enyinaya Abaribe, has applied to the court to be discharged from the suretyship, bond and recognizance of the bail of…

Lagos State Records 100% Increase In Domestic And Sexual Violence Cases
Shocking
51 views
Shocking
51 views

Lagos State Records 100% Increase In Domestic And Sexual Violence Cases

PH - October 17, 2017

The Lagos State Domestic and Sexual Violence Response Team (DSVRT) yesterday has stated that 950 domestic and sexual violence cases have been reported this year alone, compared…

Where Is TSTV Nigeria 17 Days After Launch? – Biola Kazeem
Business
68 views
Business
68 views

Where Is TSTV Nigeria 17 Days After Launch? – Biola Kazeem

PH - October 17, 2017

Renowned sport analyst Biola Kazeem has taken to Twitter to express his thoughts on the inability of TSTV to commence operation 17 days after launching. He also…

Davido Finally Speaks After Alleged Murder – ‘I Forgive All Those Who Called Me A Murderer’
Entertainment
85 views
Entertainment
85 views

Davido Finally Speaks After Alleged Murder – ‘I Forgive All Those Who Called Me A Murderer’

MT - October 17, 2017

Nigerian singer Davido, who has been embroiled in some controversies recently over the death of some friends, says he ‘forgives’ all those who accused him of murder.…

Loading...