The Chief Operating Officer of Silvex International, an agribusiness company, Abubakar Garba Ibrahim, has said the Nigerian agricultural sector has more business opportunities than any other if properly managed.
He stated this in an interview with Daily Trust, noting that the sector has been the main economic basis of every civilization.
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Ibrahim also said that based on the huge business opportunities in the sector, his company is redefining the concept of employment for youths in the country through its innovative approach to agricultural activities.
“Based on some recent analyses, we realized that farmers under our out-grower and in-grower schemes are getting between 300% – 500% returns in a production cycle, and since farmers can do up to three production cycles in a year with irrigation facilities, they can accumulate about N2 million per annum, which is an average of N160,000.
“When you look at these figures, it’s by far more than what a director earns in many states,” he said.
He stated that to explore the opportunities, the company gives youth and farmers access to land with irrigation facilities as well as supplies them with top farming inputs especially improved seed varieties and fertiliser for better yield.
“We train them on good agronomic practices and provide extension services through our field coordinators and lead farmers. We also buy back from the farmers at prevailing market rates,” he said.
