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The three-day Business of Agriculture Masterclass 2024 has concluded, bringing together key stakeholders, policymakers, and agripreneurs to address the pressing challenges and transformative opportunities within Nigeria’s agricultural sector. Held virtually from September 17 to 19, 2024, the event was themed “Cultivating a Rich Future through Agriculture” and was organized by Cluster 5 of the Private Sector Advisory Group (PSAG) in collaboration with the British American Tobacco Nigeria (BATN) Foundation and executed by the BusinessDay Foundation.
“The theme of this gathering, ‘Planting the Seed of Innovation: Opening Pathways to Agricultural Transformation,’ is both timely and relevant, aligning perfectly with our mission to ensure food security, economic growth, and sustainable development in Nigeria,” said Senator Abubakar Kyari, Honorable Minister of Agriculture and Food Security, during his keynote address at the Business of Agriculture Masterclass 4.0. He commended the collaborative efforts of the private sector and international organizations for their unwavering dedication to advancing agriculture, emphasizing that the future of the sector depends on transitioning from traditional farming practices to innovative approaches.
This year’s masterclass sought to equip both aspiring and established agricultural entrepreneurs with knowledge and strategies to turn agriculture into a profitable, sustainable business. The event also aimed to foster a new era of innovation in Nigeria’s agricultural practices by providing participants with tools to enhance productivity and overcome the sector’s longstanding challenges, such as outdated farming methods, lack of technology, limited investment, and youth disengagement.
The masterclass featured ten expertly curated sessions, ranging from crop production, agri-finance, and agro-processing to animal husbandry, aquaculture, and agricultural technology. The opening session, titled “Planting the Seeds of Innovation: Opening the Pathway to Agricultural Transformation,” set the stage for a series of discussions focused on adopting innovative solutions and a business mindset to unlock the potential of Nigeria’s agriculture.
Other standout sessions included:
- The Business of Crop Production: Focused on improving crop yields and profitability through modern farming techniques.
- Agri-Finance: Discussed how to access and navigate financing options to support agricultural growth.
- The Business of Agricultural Technology: Emphasized the role of digital tools in driving agricultural efficiency and expansion.
- The Business of Agro-Logistics and Trade: Highlighted the importance of efficient supply chains for market access.
Co-chair of UN PSAG Cluster 5, Dr. Mories Atoki, also highlighted the importance of innovation in her remarks. “Innovation is the seed from which transformative changes occur. By fostering a data-driven approach, we can optimize agricultural value chains and develop scalable farming practices that benefit our communities,” Atoki stated, calling for new investment models that attract global interest and manage risks effectively.
Oludare Odusanya, General Manager of the BATN Foundation, expressed the Foundation’s long-standing commitment to empowering rural communities and fostering sustainable agricultural practices. “For the past 20 years, BATN Foundation has worked to support smallholder farmers through innovative agricultural initiatives, contributing not only to poverty reduction but also to the achievement of multiple United Nations Sustainable Development Goals, particularly 1,2,6,8,10 & 13” Odusanya said. He encouraged participants to take full advantage of the masterclass to gain actionable insights that can transform agriculture into a thriving business.
The Business of Agriculture Masterclass underscored the critical role that agri-preneurs play in the future of Nigeria’s economy, given that agriculture contributes about 24% to the nation’s GDP and employs nearly 70% of its workforce. Industry leaders, including Oba Dokun Thompson, the Oloni of Eti-Oni, and Segun Awolowo, National Coordinator of the National Committee AFCTA Nigeria Office, echoed the sentiment that innovation, technology, and private-sector collaboration are essential for driving the agricultural sector forward.
The masterclass concluded with a renewed commitment to advancing Nigeria’s agricultural sector through sustainable, innovative practices. Participants were urged to continue leveraging the insights gained to build a thriving agricultural business that supports not only economic growth but also food security and environmental sustainability.
To learn more about the masterclass and watch the sessions, visit Business of Agriculture – Cultivating a Rich Future Through Agriculture (bdfoundation.ng)
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