Agribusiness: How to End Poverty
The Society for Corporate Governance, Nigeria, has said agribusiness can provide a pathway out of poverty, as 82 per cent of corporate governance compliance are met in the agricultural sector in Nigeria.
The Director, SCG, Alhaji Tijani Borodo, made this known at the Validation Workshop held for the review of the Survey report on Corporate Governance and Board Structure of the Agriculture Sector held on Tuesday.
Borodo said, “If you have good governance in your business you would have a successful business. It is also exciting that it is done in agriculture.
“Despite the recommendation of the 1982 world development report that the government should focus on governance and improve agriculture, very little has been achieved today.
“Policy bias, underinvestment, mis-investment and lack of capacity have undermined the development in agriculture. To address these issues, we should focus on the key areas, invigorate the public sector, private sector and civil society with guidance and support. The time has come for this sector to think and have different regulations in agriculture in Nigeria.”
According to the Chief Executive Officer, Chioma Mordi, said there was a need for the sector to be well regulated and comply with good corporate governance practices.
The Commissioner for Agriculture, Mrs Abisola Olusanya, who was represented by the Senior Special Assistant to Lagos State Governor on Agriculture, Mr Gbolabo Olanihun, said agriculture business was a trillion-dollar business that could attract foreign investors.
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Olusanya said, “We have moved the focus from agriculture to agribusiness. You must have it at the back of your mind if you are going into this space that you are going into agribusiness.
“What we are doing from the onset of this administration is to become a power sector. That is why we have a five-year road map, particularly around the red meat value chain, which is a major area Lagos State focuses on.
“There are opportunities for people to invest in. You would come to Lagos State Ministry of Agriculture; you would get a form and pay and they would give you a full plot, you bring in your cows.
“Without corporate governance in place, foreign investors may not come in. The role of the government is to build an enabling environment where investors would come into the agric space.”
“The market is a trillion-dollar market and without a good structure, investors would not come in and the government has a good role to play.”
She added that Lagos State had a butcher academy to revamp the cattle business.