FG, Flux Carbon ink food production pact

Africa’s agricultural exports have shaped economic activity and market trends, with key insights from the Africa Agriculture Trade Monitor (AATM) 2024 report. Despite challenges, oilseeds, oleaginous fruits, and cotton saw double-digit growth, while cocoa exports declined by 2% annually but remain Africa’s most competitive export, holding 20% of the global market. Edible fruits, cocoa, and coffee drove export growth, while tobacco and sugar exports fell. Africa’s agricultural sector continues to adapt, contributing significantly to the global economy, with 10 commodities making up nearly 80% of its agricultural exports between 2018 and 2022.
Source: Punch

Our Review
The Federal Government’s partnership with FLUX Carbon Ltd to introduce Enhanced Rock Weathering (ERW) technology marks a significant step toward climate-smart agriculture in Nigeria. As an agribusiness consultant, this development holds immense potential for enhancing the entire agricultural value chain, especially with its focus on key crops like sugarcane, maize, and cassava. By sequestering carbon dioxide and improving soil fertility, the ERW technology offers a sustainable alternative to synthetic fertilizers, directly benefiting soil health and boosting crop yields for smallholder farmers.
This initiative not only addresses immediate food security needs but also positions Nigeria as a global leader in climate-resilient agriculture. The ability to attract international organizations like the FAO and IFAD demonstrates the potential for scaling sustainable practices across the country. Furthermore, the project promises to create job opportunities, foster economic development, and reduce the environmental impact of traditional farming methods. For agribusiness stakeholders, this partnership offers a model for integrating cutting-edge technology to improve productivity and sustainability, driving informed decisions that foster growth across the agricultural sector.