The Director, Corporate and Regulatory Affairs, Olam Agri, Ade Adefeko, has raised concerns about Nigeria’s food security, saying Nigeria has comparative advantage in a lot of staples.
During an interview on Arise TV’s Global Business Report, he pointed out that the country’s population growth is outpacing food production.
“We need to do more in terms of production. We can only be competitive when we have comparative advantage,” he stated.
“Nigeria has comparative advantage in a lot of staples, but how well we harness that has always been the challenge.”
He noted that the government’s budget allocation for agriculture has been decreasing, dropping from 2.1% to 1.3% over the last three years, far below the recommended 10% of the total budget.
This reduced funding, he noted, has led to inadequate support for the agriculture sector, which is essential for national security.
Adefeko stressed that food security is an essential part of national security, and the current high food inflation reflects the need for increased production.
The United Nations had said that a huge percentage of Nigeria’s population is likely to face high levels of acute food security between June and August 2024 as a result of over 40% year-on-year food inflation.
Speaking further, he pointed out several problems facing the agricultural sector, including underused cultivable land, insufficient inputs, and poor farming practices.
He urged the government to take strategic, deliberate actions to address these issues, particularly in providing fertilizers, inputs, and infrastructure.
Adefeko further stressed the need to carry out soil mapping operations. He pointed out that many fertilizers are not compatible with certain soils, stating that soil testing and soil mapping are crucial to understanding what crops can grow on what soil, and that this is the duty of research institutions.
He highlighted the importance of research institutions developing better seed and seedling varieties to boost yield per hectare.
“The average varieties we have in Nigeria in terms of yield per hectare is between 1.5 to 2.5, whereas, the global average ranges from 14 to 16% in some crops, particularly in Asia and Latin America. We need to improve our farming practices and techniques,” he said.
Speaking on ways to navigate the mechanized farming aspect, Adefeko said, “We need large-scale mechanization, and this can only be done by large multinationals.”
