The Business of Agriculture Masterclass 2024 successfully concluded its three-day virtual event from September 17 to 19, uniting key stakeholders, policymakers, and agripreneurs to address critical challenges and explore transformative opportunities within Nigeria’s agricultural sector. Themed “Cultivating a Rich Future through Agriculture,” the event was organized by Cluster 5 of the Private Sector Advisory Group (PSAG) in partnership with the British American Tobacco Nigeria (BATN) Foundation and executed by the BusinessDay Foundation.
In his keynote address, Senator Abubakar Kyari, Minister of Agriculture and Food Security, emphasized the theme, “Planting the Seed of Innovation: Opening Pathways to Agricultural Transformation.” He noted that this theme aligns with Nigeria’s mission to achieve food security, economic growth, and sustainable development. Kyari commended the collaborative efforts of the private sector and international organizations in advancing agriculture, stressing the need to transition from traditional farming practices to innovative methods.
The masterclass aimed to equip both aspiring and established agricultural entrepreneurs with the necessary knowledge and strategies to transform agriculture into a profitable and sustainable business. It focused on fostering a new era of innovation in agricultural practices, providing participants with tools to enhance productivity and tackle longstanding challenges such as outdated farming methods, limited investment, and youth disengagement.
The event featured ten expertly curated sessions covering various topics, including crop production, agri-finance, agro-processing, animal husbandry, aquaculture, and agricultural technology. Key sessions included:
- Business of Crop Production: Focused on improving crop yields through modern farming techniques.
- Agri-Finance: Discussed how to access and navigate financing options for agricultural growth.
- Business of Agricultural Technology: Highlighted the role of digital tools in driving agricultural efficiency.
- Business of Agro-Logistics and Trade: Emphasized the importance of efficient supply chains for market access.
Dr. Mories Atoki, Co-chair of UN PSAG Cluster 5, underscored the importance of innovation, stating, “Innovation is the seed from which transformative changes occur. By fostering a data-driven approach, we can optimize agricultural value chains and develop scalable farming practices that benefit our communities.” She called for new investment models to attract global interest and manage risks effectively.
Oludare Odusanya, General Manager of the BATN Foundation, reiterated the foundation’s commitment to empowering rural communities and promoting sustainable agricultural practices. “For the past 20 years, BATN Foundation has supported smallholder farmers through innovative agricultural initiatives, contributing to poverty reduction and achieving multiple United Nations Sustainable Development Goals,” Odusanya stated.
The masterclass highlighted the vital role of agripreneurs in Nigeria’s economy, with agriculture contributing approximately 24 percent to the nation’s GDP and employing nearly 70 percent of its workforce. Industry leaders, including the Oloni of Eti-Oni, Oba Dokun Thompson, and Segun Awolowo, National Coordinator of the National Committee AFCTA Nigeria Office, echoed the sentiment that innovation, technology, and private-sector collaboration are essential for advancing the agricultural sector.
The masterclass concluded with a renewed commitment to advancing Nigeria’s agricultural sector through sustainable, innovative practices, urging participants to leverage the insights gained to build thriving agricultural businesses that support economic growth, food security, and environmental sustainability.
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