At the 4th edition of the Agric-Investment and Capital Market Conference (AICM 2024) in Lagos, Minister of Agriculture and Food Security Abubakar Kyari emphasized the critical need for enhanced investment in research and development to drive economic growth in the agriculture sector.
Kyari underscored the necessity for governments and businesses to prioritize innovation, research, and development, citing their pivotal role in fostering economic prosperity. He stated, “Investing in entrepreneurship, creativity, and start-ups creates an ecosystem conducive to sustainable growth.”
Representing Kyari at the event, Lagos State Coordinator Omolara Abimbola reiterated the importance of inclusive growth, highlighting that environmental and social concerns should not be overlooked in pursuit of development.
Bamidele Owoola, CEO of Welcome2Africa International, celebrated the success of AICM 2024 in securing $24 million in investments for Nigerian agribusinesses, marking a significant leap from the previous year.
Former Sahara Group Executive Director Tonye Cole stressed the significance of smallholder farmers in Nigeria’s agricultural landscape, advocating for policies that prioritize their welfare and ensure access to arable land for mechanized farming. He also emphasized the pivotal role of addressing security challenges to achieve food security.
Cole also highlighted the role of the capital market in driving agricultural development, emphasizing its function as a platform for investment opportunities that stimulate long-term growth and liquidity in the market.
The discussions at AICM 2024 underscore the collective efforts required to propel Africa’s agricultural sector forward, with a focus on innovation, inclusivity, and sustainable practices.
