A former Abia State Commissioner for Finance and Economic Development, Dr Philips Nto has canvassed the active participation of the private sector towards the attainment of food security in Nigeria.
He said that although the government has the primary responsibility to fund the sector, the input of the private sector was urgently needed to ensure that the much talked about agriculture diversification and value chain are realized.
Dr Philips Nto, who is currently the Director, Agribusiness Incubation Centre, Michael Okpara University of Agriculture, spoke to newsmen in Umuahia at the sidelines of World Food Day celebration in Umuahia
He noted that the theme of the celebration,”Hand in Hand for Better Food and Better Future,” has sharply drawn attention to the need for private sector participation in the agricultural value chain.
According to him, the government could initiate a policy that could make it mandatory for leading private concerns in the oil, telecom and banking subsectors among others to invest percentage of their profit after tax to any aspect of the value chain in agriculture.
Said he, ” The best way to diversify the economy for optimal food security and productivity is to invest money from the non-agricultural sector to agriculture.”
Nto, who is the immediate past Provost of Abia State College of Education, Technical, Arochukwu, noted that if the federal government could through the Central Bank of Nigeria mobilize N68b to revatalize the National Theatre, Lagos, it could do more for the agricultural sector.
” Why can’t we adopt such a model in fund raising to develop agriculture and agribusiness sectors that will enhance food security and independence,’ he asked
The director listed the long value chain range that requires private sector funding and support to include financing, input supply, production, packaging, and distribution to final consumers.
Dr Nto was convinced that a synergy among the public and private sectors along with farmers will ensure enhanced food production and ultimate food security in Nigeria.