The Senior Special Adviser (SSA) on Agribusiness in Ondo State, Mr. Akin Olotu has stated that Nigeria’s agriculture sector is adequately funded, debunking claims that the sector has been starved of finance.
He made this disclosure at the Farm2Fork Dialogue, during a special plenary session themed “Farmstead Productivity, Health and Safety: Calibrating for High Impact.”
Staking his position, Olotu said that farmers, processors and other players in the sector are adequately funded but they do not understand the language and details of financing, as well as the capacities needed.
In his remarks, “It is sometimes difficult to carry these farmers along and they feel less concerned as well when seminars are held. The only question they ask is ‘when are you giving us money?.”
He stated that infrastructure is a major challenge bedeviling the agriculture system, while also urging farmers to think of an innovation that can make their outputs easier.
The SSA also added that many farmers do not have the technical know-how on obtaining credit facilities. “If you desire to fund small scale or large scale, act on it because banks are ready to give loans to farmers, as they are aware agribusiness is hot right now.”
“There is a need for the government to look for farmers with increased capacities because the output from these farmers needs to be felt. We also need to curb the issue of farmers misappropriating funds”
Issuing a rallying cry to farmers on building enough capacities, He said “Seek ye first the kingdom of capacity and every other thing shall be added unto you. Farmers need to grow their capacities to obtain loans.”