Agricultural and Rural Management Training Institute (ARMTI) Acting Executive Director,Dr Olufemi Oladunni said the rate of return on investment (RoI) is higher in Nigeria for global firms exploring opportunities in the agric sector.
According to him, more investment is required if the nation’s agric sector is to provide food to meet rising consumption.
He stressed the need for foreign investment to come to develop agribusinesses, working with local farmers to improve yields and buying their crops.
He explained that there are challenges such as lack of infrastructure, low-quality seeds and fertiliser, adding that the involvement of global firms will help the industry overcome
some of these issues.
Stakeholders have expressed concerns that foreign Direct Investment (FDI) into the nation’s agriculture sector remains limited despite the industry’s vast potential to develop.
Source: The Nation