Ecobank Nigeria announced earlier in the year that it would be disbursing N70 billion to players in the agro-sector as a part of a scheme to boost agribusiness in the country. To reinforce that focus, the bank is organising one of the largest food and agro summit on February 13th.
Themed “Unlocking productivity and investment opportunities across the Agribusiness value chain”, the summit will take place at the Civic Centre, located on Ozumba Mbadiwe, Victoria Island.
Nigeria has seen her major source of revenue, Oil, shrink over the past 5 years. Uncertainties across key regions, climate change activism, and the rise in electronic vehicle will have impact on the demand for oil across the globe going forward. It is expected that countries which depend on oil will be affected adversely due to such development. Hence, nations such as Suadi Arabia, Qatar and the rest have been taking proactive actions to diversify their economy. Since Nigeria is in the process of reviving the agro-sector to shore up her diminishing revenue, the Ecobank’s summit will serve as incentives in reaching internal food sufficiency as well building stronger export capacity.
Speaking about the initiative, Head, Agribusiness, Ecobank Nigeria, Mojisola Oguntoyinbo, said the summit will help unlock opportunities in the nation’s agro-sector.
According to her, “This maiden edition of the Ecobank Agribusiness Summit is to stimulate discussions, examine critically the opportunities with the intent of unlocking the growth potentials in the entire value chain of the agric sector”.
Highlighting what the summit will look like, she added, “The full day event will include keynote speakers, panel discussion sessions and exhibition of Agro and Agro-allied products where marketplace experience will be created for buyers and sellers to interact and make sales. Between 400 to 450 companies, regulators and other stake holders in Agric-business are expected to attend and participate at the event. This will create opportunity for networking among the industry players”.
The summit adds to a list of corporate efforts targeted at developing agriculture in Nigeria. The British America Tobacco Company also holds annual events targeted at enhancing the sector’s value chain while banks such as GTBank and Zenith Bank invest in some niche areas of the sectors with the aim of fostering innovation and attracting young people into food and related businesses.