By Dr. Barthy Okorochukwu
INTRODUCTION:
Agriculture is the production of crops and livestock for the sustenance of man and economic gain. It is also the processing, marketing and distribution of crops and animal products for money and food. Agriculture was the most important sector of the Nigeria economy before the discovery of oil from the stand point of sufficiency in food and fiber, rural employment and export earnings. It is the hallmark of the first stage of economic development and it held the key to rural development, poverty alleviation and overall economic development. Agriculture has the potential to replace crude oil as an alternative major economic earner for Nigeria.
AGRICULTURE AND ECONOMIC DEVELOPMENT
The role of Agriculture in development cannot be over emphasized. It contributes to industrialization, political and economic stability of any society. In the first place, it provides food for an expanding population. Both under developed, developing or even developed countries get their food from agriculture for sustenance of life and human development. If agriculture fails to meet the demand for food products, it is found to affect adversely, the growth rate of the economy. Malnutrition causes both mental and physical retardation; and poor dietary conditions affect general health. Also the industrial sector depends on agriculture for raw materials. It is the backbone of an economy which provides the basic ingredients to mankind and raw material for industrialization. Again, it provides employment to a greater proportion of the entire population especially our rural dwellers, and offers them the surest route to overcome chronic poverty. More importantly, it provides foreign exchange earnings from commodity exports. It contributes in fostering economic advancement by creating effective demands even during depressions and health pandemics like COVID-19. The agricultural sector has the potential to offset the negative effect of negative growth in an economy.
This probably explains why the Governor of Imo State His Excellency, Distinguished Senator Hope Uzodimma is laying a lot of emphasis on agriculture. His recent decisions and activities point in this direction. He has proved his commitment to agriculture by the training and empowering our youths in agriculture, giving fertilizer to Imo farmers free of charge, reviving and commissioning Achara Ubo Farm, establishing 136 hectares of oil palm plantation in Ngor Okpala and Adapalm and host of others.
AGRICULTURE AND Agribusiness Potentials in IMO STATE
Whether living in the urban or rural areas, Imolites are encouraged to engage in agriculture at different levels. The opportunities are enormous:
- People can still plant some crops in small or vertical containers as nurseries for the burgeoning market or through it to grow food for personal needs and for sale in the local market
- People can also plant a variety of vegetables around their homes and harvest them to eat or to sell
- People can take advantage of the fertile land and grow economic trees around their home for personal consumption and for the open market
- One can raise animals or manufacture animal feeds for sale; there is always a ready market for this.
- Soybeans and cloves give abundant yield in most part of Imo State, so those who have enough space can grow it in commercial quantities.
- One plot of land or equivalent of a space of 50 x 100 meters can serve for rearing of cattle or other animals for the production or meat, dairy products like milk, yoghurt or cheese
- Raising poultry is becoming fashionable in homes, but it is important for people to understand that it is beneficial to them to do more. It doesn’t require much capital, space or infrastructure.
- In like manner people can try their hands in fish farming, snail farming, bee-keeping/honey production or even in raising rabbits; all for food and sales. Bee wax can be sold to candle makers or for related needs.
- Soy is another popular substance that is in high demand because it is consumed in large quantities and can be used in a variety of different products. So people should grow processes and sell it for money and food.
Agribusiness potential in imo state AND FINANCE CHALLENGES
As we have seen, agriculture presents a big opportunity for our people. We have seen the various value chains and demand structures into which our efforts can fit in for big returns, no matter how small we think the effort is. Enterprising Imolites and Nigerians in general can benefit from the opportunities in the agricultural sector and agribusinesses in Imo state. Agriculture/agribusinesses constitute great opportunity for to enterprising Imolites / Nigerians to become essential role player in the food chains in the State and country. However there is urgent need to move in the direction of large scale and fully commercial farming, and related agribusinesses like processing and marketing as the main engine of economic growth in Imo State.
To do this, funds needs to be available to farmers and entrepreneurs. Investors in agriculture and agribusinesses will benefit by coming into Imo to scale up agricultural activities. Financial institutions should create products that can drive agricultural productivity and the development of agribusinesses in Imo state to help create jobs, food, wealth etc. The state needs to partner with investors (Local and Foreign) to fully harness the agricultural potentials in the state especially in the areas of production of crops where it is believed that the state has comparative advantage. Other areas are the installation of processing machines, value-adding products-creation etc. and so on. The finance sector has a key role to play to improve agricultural productivity and stimulate economic growth and bring about poverty reduction.
PRIVATE SECTOR PARTICIPATION IN AGEICULTURE AND AGRIBUSINESS
The private sector in Nigeria can play a crucial role in developing agriculture and agribusinesses. They can drive agricultural research, invention, innovation, value utilization etc. They can also work hand in hand with government for the development of agriculture and agribusinesses. The state relies on dynamic and innovative private/public partnership between producers, processors, marketers, financiers and Government to achieve agricultural transformation. This will spur industrial development and raise incomes for producers, processors, marketers and the state at large. Trending globally is the Public- Private- Partnership (PPP) in which governments engages the public in working partnership towards food sufficiency. Global private spending on agricultural by food industries rose from $5.1billion in 1990 to $15.6billion in 2014. Private investment accelerated as agricultural commodity prices began to rise in 2003. Although the companies that account for most agricultural spending are based in developed countries, their technologies have considerable and growing importance for developing countries.
BARRIERS TO AGRICULURE AND AGRIBUSINESS IN IMO STATE
Imo state is facing some teething constraints in the agricultural sector.
- dominance of subsistence and small-scale framers with abysmally low output per farmer relative to effort.
- Unwillingness of youths to go into agriculture. Instead they migrate to urban centre in search of white-collar jobs.
- Limited facilities for storage of their produce and lack of processing equipment for value-adding.
- Poor farm mechanization
- High cost of farm inputs
- Land tenure system which is restrictive
Other significant barriers to agribusiness include startup capital, limited experience with farming, lack of knowledge about business planning, discrimination, student loans, access to markets, affordable housing, affordable healthcare, labor, climate change, farm policies, and need for off-farm income.
CONCLUSION
Agricultural development is a must for the economic development. It has proven to be one of the most stable and essential sectors of the economy. Agricultural progress is essential to provide food for growing non-agricultural labour force, raw materials for industrial production and tax revenue for government work, export to earn foreign exchange and to provide a growing market for domestic manufactures. It will be rational and appropriate to place greater emphasis on further development of the agricultural sector for an overall economic development and gain. The normal projection and saying of “No food, no Nation” details the nexus in the value of agriculture in the nation.