Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has sounded the alarm on Nigeria’s agricultural strategy, emphasizing the need for a more adaptive and resilient approach to address the country’s growing concerns over food insecurity and economic vulnerability. This call to action is timely, considering the sector’s recent performance.
The agricultural sector has shown signs of vulnerability, with a notable decline in agricultural exports from N302.2 billion in 2018 to N269.8 billion in 2019, representing an 11% decline. Conversely, agricultural imports rose by 12.7% from N851.6 billion to N959.5 billion during the same period, making Nigeria a net food importer. This trend is unsustainable and highlights the need for a revised strategy.
However, there are existing frameworks that can be built upon to improve the agricultural sector. The Nigeria Digital Agriculture Strategy (2020-2030) aims to harness digital technologies to enhance food security and make Nigeria a leading country in food security and exporter of standard agricultural produce. Additionally, the Agricultural Sector Food Security and Nutrition Strategy 2016 – 2025 guides the activities of the Federal Ministry of Agriculture and Rural Development and the wider agricultural sector in Nigeria for improved nutrition.
To achieve a more adaptive and resilient agricultural strategy, Minister Edun’s proposal could involve leveraging digital technologies to enhance agricultural productivity and efficiency. This could include initiatives such as precision farming, agricultural data analytics, and digital marketplaces to connect farmers with consumers. Furthermore, promoting local production and reducing reliance on imported goods could help boost the country’s agricultural export capacity.
Improving food security and nutrition is also crucial, and this could be achieved by increasing access to nutritious food and promoting sustainable agricultural practices. By adopting a more adaptive and resilient approach, Nigeria can reduce its economic vulnerability and ensure a more food-secure future.
The minister’s call to action is a wake-up call for stakeholders to rethink Nigeria’s agricultural strategy. By working together, the government, private sector, and farmers can develop a more effective and sustainable approach to agriculture, one that prioritizes local production, leverages technology, and promotes food security and nutrition. The future of Nigeria’s agricultural sector depends on it.
