The African Development Bank (AfDB) has underscored the need to enhance agricultural production and value addition as a pathway to transforming Nigeria’s economy.
The Director-General of the AfDB’s Nigerian Country Department, Dr. Abdul Kamara highlighted this during the groundbreaking ceremony of the Eruwa Agribusiness Industrial Hub in Oyo State on Thursday.
Dr. Kamara praised Governor Seyi Makinde for revitalizing the rural economy in Oyo State through innovative agricultural initiatives.
He noted that the Eruwa Agribusiness Industrial Hub aligns with the AfDB’s vision of economic transformation by moving away from reliance on unprocessed raw materials, which are prone to market volatility and depletion.
Kamara emphasized the importance of productivity growth, increased production, and value addition in the agricultural sector.
“The days of depending on unprocessed raw materials are over. Boosting agricultural productivity and adding value to commodities is essential for sustainable development,” he said.
He also highlighted the objectives of the Nigeria Special Agro-Industrial Processing Zones (SAPZ) Programme, which include: Enhancing food production efficiency, creating employment opportunities, attracting investments in agro-industry and agribusiness, and building skills, capacity, and entrepreneurship for inclusive agro-industrial development.
Dr. Kamara commended the Oyo State Government for establishing robust infrastructure and implementing policies aimed at modernizing agriculture. He reiterated the AfDB’s commitment to supporting the growth of Oyo State, Nigeria, and Africa at large.
“The Eruwa Agribusiness Industrial Hub is poised to be a game-changer for the agricultural sector in Oyo State and Nigeria as a whole,” Kamara stated, adding that the project is a step towards achieving food security, economic growth, and rural transformation.
