Nigerians who have made billions of naira in other sectors of the economy are now channelling their fortunes into the agricultural sector, following the huge investment recorded under the new dispensation’s transformation agenda, the Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina has said.
Akinwumi, who stated this while speaking at the ongoing Agribusiness Forum 2013, an annual programme for Africa organised by the European Marketing Research Centre (EMRC) based in Brussels, Belgium, said the new commercial farmers were putting huge investments into agribusiness investments having seen the huge prospects in agric the sector.
Speaking at the forum with the theme ‘The Agri-Food Sector: A Catalyst for Sustainable and Inclusive Growth in Africa’, the minister said, “Our billionaires used to make money from other sectors, including oil; now, they are moving back to the farm.”
The minister also expressed optimism about the prospect of agriculture.
“The future of Africa is bright. We need to secure that future. Agriculture as a business is what is needed to secure that future. We have treated sorghum as a subsistence crop before now. We are now turning sorghum into a cash crop. Nigeria will be the largest processor of food sorghum,” he said.