Expert Calls For Boost In Private Sector Investment In Wheat Production
Dr. Oluwasina Olabanji, former Executive Director of the Lake Chad Research Institute (LCRI), has emphasized the critical need for increased private sector investment in Nigeria’s wheat production. In a recent interview, Olabanji acknowledged that while some companies have started to invest, government support is essential to create an enabling environment for the private sector to thrive. He underscored the importance of collaboration between public and private entities and called for greater government investment in research and development, citing successful agricultural nations that benefited from substantial public funding.
Olabanji attributed the decline in wheat production to inconsistent government policies over the past decade, which he believes have hampered Nigeria’s agricultural progress. He noted that Nigeria could have achieved 50 percent self-sufficiency in wheat production had it maintained output levels from 2012 to 2016, when production rose from 70,000 metric tons to 450,000 metric tons. Despite acknowledging improvements under the current administration, particularly for the 2023/2024 dry season wheat farming, he stated that more action is required to meet Nigeria’s production targets. Although the government aimed to cultivate 270,000 hectares, the actual area cultivated fell short. However, Olabanji remains optimistic about achieving the target of 250,000 hectares for the upcoming 2024/2025 season, projecting that proactive political will could enable Nigeria to harvest 700,000 metric tons of wheat.
Source- Independent.ng
Expert Review for Agri-Food Stakeholders
Dr. Oluwasina Olabanji’s insights into the challenges and opportunities within Nigeria’s wheat production sector underscore the urgent need for collaborative efforts between the government and private entities. By addressing policy inconsistencies and increasing investments, Nigeria can enhance its wheat output and work toward greater self-sufficiency.
The Crucial Role of Private Sector Investment
Dr. Olabanji’s call for increased private sector investment in wheat production highlights a pivotal strategy for revitalizing Nigeria’s agricultural landscape. By leveraging the resources and expertise of private companies, the country can enhance its wheat production capacity. This collaborative approach is crucial, as it allows for the pooling of financial resources, technology, and innovative practices that can significantly improve productivity.
Government Support and Policy Consistency
The assertion that government support is vital for private sector growth cannot be overstated. Creating a stable, conducive environment through consistent policies will foster investor confidence. Dr. Olabanji’s concerns about policy inconsistency are valid; they have been a significant barrier to achieving agricultural goals. To rectify this, the government must commit to long-term agricultural strategies that align with private sector capabilities and market realities.
Investing in Research and Development
The need for substantial investment in research and development is another key point raised by Olabanji. By funding research initiatives, the government can drive innovations in wheat production, addressing challenges such as disease resistance and climate adaptability. Successful agricultural nations have thrived due to their commitment to R&D; Nigeria must follow suit to unlock its potential in wheat production.
Setting Realistic and Achievable Targets
While optimism about reaching cultivation targets is essential, it is crucial to set realistic expectations based on historical data and market conditions. The projected cultivation of 250,000 hectares for the 2024/2025 season should be paired with actionable plans and support systems to ensure successful implementation. This includes providing farmers with access to quality seeds, fertilizers, and training on best practices.
Potential for Self-Sufficiency
Dr. Olabanji’s projection that Nigeria could harvest 700,000 metric tons of wheat with the right political will is encouraging. Achieving self-sufficiency in wheat production is not only vital for national food security but also for reducing import dependencies, which strain foreign exchange reserves. With the right investments, partnerships, and policy frameworks, Nigeria has the potential to transform its wheat sector into a model of agricultural success.
The insights from Dr. Olabanji underline a significant opportunity for Nigeria to bolster its wheat production through strategic partnerships and robust government support. By fostering collaboration between the public and private sectors, investing in research and development, and ensuring policy consistency, Nigeria can pave the way for a resilient agricultural future that meets both local demand and enhances food security.
