Agribusiness can contribute N402tn to GDP | Dailytrust

Agribusiness can contribute N402tn to GDP

The Chief Executive Officer (CEO) of Green Eagles Agribusiness Solutions Limited, Mr. Taiwo Oluwadahunsola, has said agribusiness can contribute up to N402 trillion to Nigeria’s Gross Domestic Product (GDP) if key industrialisation innovations are adopted at a national scale.

Oluwadahunsola who spoke at the launch of ‘Green Wealth Project’ on Thursday in Lagos said his company was set to spearhead the creative restructuring and innovation required to achieve the goal with the project launch.

He described the project as an agricultural initiative that will ensure food security, export prominence as well as sustainable wealth for all stakeholders.

He said integrated farm estates would be established in every local government area across the federation to yield a rapid increase in crops and livestock, which is produced round-the-year at significantly lower production costs, until equilibrium of demand and supply at consistently lower prices is achieved.

“The cottage industries will enjoy nearness to materials and farmers will enjoy direct access to the whole value chain, including guaranteed markets and exports. The integrated farm estates of at least a thousand hectares each will be established in each of the 774 LGAs across Nigeria while farmers will be organised into co-operative structures, trained and sponsored to achieve the Project objectives.”

He said the business can bring 30% annual return to sponsors and that at the end of each investment cycle, a sponsor may request for a roll-over or principal repayment.