Nigerian Minister Audu Ogbeh talks agriculture

Nigeria's Minister of Agriculture and Rural Development, Audu Ogbeh, recently sat down for an interview with CNBC Africa to discuss the current state of agriculture in the country. With food inflation at an eight-year high and the impacts of flooding on food production, Minister Ogbeh shed light on the challenges facing the sector and outlined strategies to revamp it. The flooding, particularly along the banks of the Benue and Niger rivers, has wreaked havoc on food production in many states. The lack of river dredging for the past 45 years has contributed to the severe impact of the floods as the rivers can no longer hold water effectively. This has led to topsoil erosion and frequent flooding, washing away crops and creating food supply issues. Minister Ogbeh highlighted that Nigeria is now facing pressure from neighboring West African countries due to a weakened Naira, further straining the food supply chain. To address these challenges, the minister emphasized the need to improve soil knowledge, enhance fertilizer production strategies, and adopt high-quality seeds to increase yields and meet growing demands. Mechanization was also discussed as a crucial aspect of modernizing agriculture in Nigeria. The shortage of tractors, with some states having as few as four working tractors, poses a significant hurdle to efficient farming practices. Minister Ogbeh acknowledged the need for better tractor management and highlighted successful initiatives where private companies are managing tractor operations effectively. He underscored the importance of restructural plans to recapitalize the Bank of Agriculture to provide single-digit financing for farmers. The government is working towards restructuring the bank and partnering with global institutions like the World Bank and the African Development Bank to inject funds into the agricultural sector. The goal is to offer affordable loans to farmers and increase access to finance for agricultural activities. Through these efforts, Minister Ogbeh aims to enhance the agricultural landscape in Nigeria and drive sustainable growth in the sector. Additionally, plans are in place to open branches of the Bank of Agriculture in every local government, creating a network of support for farmers across the country. By the end of the year, the ministry expects to have completed the restructuring of the bank and obtained a second license to facilitate deposit-taking. The minister's vision is to establish a one-stop shop in each local government, providing comprehensive agricultural services to farmers. With a focus on education, innovation, and strategic partnerships, Nigeria aims to overcome challenges in the agricultural sector and foster a thriving farming community. Minister Audu Ogbeh's commitment to transforming agriculture in Nigeria reflects a concerted effort to ensure food security, economic stability, and sustainable development in the country.