By Abdul-Kadir Abdullah
In line with the vision of Governor Monday Okpebholo’s led administration to develop Edo State into an economic viable state, the Edo State Investment Promotion Office (ESIPO) has Highlighted Untapped Potential for Industrial Growth at the Lagos Agri-Investment Forum held recently.
The 5th edition of the Agri-Investment and Capital Markets Forum under the theme “Cultivating Change: Agri-Food Investments as a Catalyst for Industrialisation” focused discussion on leveraging investments to drive industrial growth within the agri-food sector, and Edo State emerged as a key highlight, championed by Hon. Amen Odigie, the Managing Director of the Edo State Investment Promotion Office (ESIPO) represented by Abdul-Kadir Abdullah, Team Lead of the Investment Promotion and Global Outreach Department.
Aligning with the forum’s core theme, he passionately advocated for the significant investment opportunities within Edo State’s agricultural sector as a catalyst for broader industrial advancement.
According to him, “Edo State stands ready to be a critical hub for agri-food investment, directly contributing to Nigeria’s industrialisation agenda. Our fertile land, strategic geographic advantage, and the strong support from the state government create a fertile ground for businesses to flourish and contribute to our nation’s economic growth.”
Abdullah further elaborated on the diverse investment opportunities within Edo State, spanning agribusiness ventures that can feed into manufacturing processes, alongside opportunities in healthcare, tourism, and energy. This multi-sectoral appeal underscores the state’s comprehensive potential for industrial development.
In his presentation, he illustrated how Edo State’s strategic vision of Governor Monday Okpebholo’s Back to Farm Initiative, which is part of the plan to achieve food sufficiency in the state aligns with the forum’s objectives, highlighting the state’s commitment to embracing innovative financing mechanisms, cultivating robust partnerships, investing in critical infrastructure and technology for farmers to enhance productivity for industrial processing, and actively promoting the compelling investment opportunities within its borders that directly contribute to industrial output.
The forum brought together a diverse range of stakeholders including the Permanent Secretary of the Edo State Ministry of Agriculture and Food Security, Dr Peter Osagie to explore innovative financial strategies aimed at propelling sustainable agricultural economic development and fostering industrialisation across Nigeria.
Discussions centred on the crucial role of innovative financing in tackling pressing challenges such as climate change, population growth, and food insecurity. While acknowledging the impact of existing agricultural financing initiatives in Nigeria, including programmes like the Food and Tuber Expansion and NIRSAL, which have contributed to job creation and improved access to inputs, participants addressed the persistent hurdles of limited reach, short-term financing limitations, and infrastructural deficits, particularly affecting smallholder farmers.
A significant portion of the forum’s discussions revolved around unlocking the largely untapped potential of Nigeria’s capital markets for agricultural financing. Experts explored avenues such as agricultural bonds, insurance-linked instruments, and enhanced private sector partnerships to channel essential capital into the sector, thereby fueling industrial growth. Initiatives like the Nigerian Agricultural Development Fund (NADF) were commended for their proactive role in driving agricultural transformation through innovative financial solutions and strategic interventions designed to unlock value and promote industrial linkages.
Panel discussions at the forum underscored the imperative of strong collaborations between the public and private sectors to bolster agricultural financing and showcased successful models of leveraging capital markets to propel agribusiness growth and foster industrial development.
The resounding message from the Agri-Investment and Capital Markets Forum in Lagos was a call to action: the sustainable transformation of Nigeria’s agri-food system, as a cornerstone of industrialisation, demands innovative financial solutions, collaborative partnerships, and a steadfast commitment to sustainable practices.
With its abundant agricultural resources and proactive governance, Edo State has firmly positioned itself as a key engine for this transformation, inviting investors to partner in its journey towards significant industrial advancement driven by a thriving agri-food sector.
