Wednesday, January 22, 2025

Investing More In Agriculture Reduces Cost Of Food Importation By $20B, Says Obasanjo

Nigeria’s Former President Olusegun Obasanjo has prescribed a solution to the nation’s hefty $20 billion food import bill: capitalize on the extensive arable land that remains largely untapped within the country. Speaking at the Africa Methodist Council of Heads of Conference Summit and Women’s Movement Leadership Summit held in Lagos, he linked the extensive import costs to Nigeria’s shortfall in food self-sufficiency.

At the conference, where Obasanjo served as the chairman of the public lecture themed: Leadership in a Volatile, Uncertain and Ambiguous (VULCA) World, he stressed that the discovery of oil has detrimentally shifted the country’s focus from its once-thriving agricultural base to oil dependency. He emphasized the dire need to revisit agricultural ventures, considering the renewable nature of this sector as opposed to the finite lifespan of oil reserves.

Citing agriculture as a pivotal industry for reducing unemployment and averting socioeconomic unrest amongst Nigeria’s rapidly growing population, Obasanjo pointed out the looming threat if massive investments in skills, empowerment, and job creation are not actualized.

READ MORE: Nigerian Students Studying Abroad Not Eligible For Loan, Says NELFUND

Furthermore, Obasanjo addressed the historical plight of Africans through the eras of slavery and colonialism and lamented over attempts to deny or diminish this history in some American educational narratives. He committed to maintaining the awareness of the slave trade’s historical significance.

The summit’s keynote speaker, Dr. Ivan Abraham, highlighted Africa’s acute need for quality leadership that inclusively upholds the welfare of all, especially the most vulnerable in society. Ensuring that no African is left behind is crucial for the continent’s collective rise, he added.

The insights shared by both leaders shine a light on Africa’s need for strategic governance, particularly in Nigeria, where agriculture can play a significant role in securing economic stability and preventing the resurgence of historical subjugation.

Africa Today News, New York

Hot this week

Why Nearly 90,000 Nigerians Were Denied Schengen Visas Over Two Years – Report

Nearly 90,000 Nigerians were denied Schengen visas in 2022...

Nigeria Joins BRICS as Ninth Partner, Strengthening Global Cooperation

Nigeria has officially joined BRICS as its ninth partner...

Subsidy Era Masked Nigeria’s Debt Crisis, Economic Realities – Taiwo Oyedele

Nigerians lived in an economy shrouded in “window-dressed realities”...

NLC Slams FG’s N8 Billion Budget to Educate Nigerians on Paying Electricity Bills

The Nigerian Labour Congress (NLC) has criticized the federal...

Families of Fallen Heroes, War Veterans Demand Support on Armed Forces Day 2025

Families of Nigeria's fallen military heroes and war veterans...

Streaming Giant Netflix Posts $1.87B Profit, 19M New Subscribers

Netflix ended 2024 on a high note, reporting 19...

FG Releases N22 Billion to Settle Pension Arrears for 2023-2024 Retirees

The Federal Government has released an additional N22 billion...

NLC Slams FG’s N8 Billion Budget to Educate Nigerians on Paying Electricity Bills

The Nigerian Labour Congress (NLC) has criticized the federal...

World Bank Debars Two Nigerian Firms, CEO for Corruption in $500m Welfare Project

The World Bank has banned two Nigerian firms, Viva...

Nigerian Navy Seizes Boat with 40,000 Litres of Stolen Crude Oil in Ondo

The Nigerian Navy has intercepted a wooden boat carrying...

Related Articles

Popular Categories