The recent Agriculture Summit Africa held in Abuja marked a significant stride towards enhancing the agricultural value chain on the continent, culminating in deals worth over $100 million. This financial commitment emerged from the Nigeria Feed, Fodder, and Livestock Investment Deal Room, Series 1, which aimed to foster partnerships and innovative solutions amidst the pressing challenges of food insecurity and climate change affecting the continent. The summit, convened under the theme “Transitioning from Scarcity to Security,” received backing from various partners such as Sterling One Foundation, the African Union, and the International Finance Corporation, among others. This collaborative environment underscored the necessity of unifying efforts across sectors to bolster agricultural development and address the dire food shortages prevalent across Africa.
Key figures in the agricultural sector played a vital role at the summit, including Olapeju Ibekwe, CEO of Sterling One Foundation, and Idris Ajimobi, Senior Special Assistant to the President on Livestock Development. Stakeholders included representatives from the Federal Ministry of Agriculture and Rural Development, alongside members of the Benue State Government, who were pivotal in driving discussions aimed at fortifying agriculture within their respective jurisdictions. The diverse participation at the summit not only provided a platform for dialogue but also highlighted the collaborative spirit required to tackle food insecurity effectively. Participants expressed a renewed confidence in forming strategic partnerships necessary to unlock the full potential of agricultural value chains across the region.
Emphasizing the ongoing commitment to strengthening the agricultural sector, Dr. Olusola Obikanye of Sterling Bank outlined the bank’s dedication to its HEART sectors—Health, Education, Agriculture, Renewable Energy, and Transportation. His remarks resonated with the overarching goal of the summit: to create transformative impacts in vital areas of agriculture. By promoting strategic partnerships, the summit aimed to directly address the significant challenges facing the agricultural sector, from production inefficiencies to inadequate supply chains, thereby facilitating sustainable growth across the continent. This vision was further echoed by Oglegba, who emphasized the Deal Room as a conduit for formulating partnerships that lead to enhanced agricultural systems and food security.
The specificity of the partnerships established in the Deal Room became apparent when discussing the collaboration between Benue State and South African investors. This strategic alliance aims to bolster feed production and optimize livestock systems, signifying a targeted approach to strengthen local agricultural capacity and promote food security at a broader level. Such collaborations reflect a shift towards more adaptable and resilient agricultural frameworks that can withstand the vagaries of climate change and food scarcity concerns, thus embedding efficiency into the agricultural value chain.
Ibekwe highlighted the essentiality of collaborative efforts as showcased by the ASA Deal Room in driving inclusivity and job creation in agriculture. He recognized food security as a critical focal area for the Sterling One Foundation, linking it to the concrete results generated through established partnerships at the summit. By fostering these connections, the summit aims to channel resources toward shared goals that promise to uplift vulnerable populations and ensure sustainable agricultural practices are adopted across the continent. Consequently, this collaboration stimulates a ripple effect, unlocking new economic opportunities for stakeholders engaged in agriculture.
The initiative is further complemented by the Agriculture Support Program for Rural Women Farmers developed by Sterling One Foundation, which focuses on equipping women with the necessary tools and training to enhance their agribusinesses. This program aims to elevate productivity and income levels among women in agriculture, reinforcing gender inclusivity in food security strategies. In summary, the accomplishments of the Agriculture Summit Africa reflect a concerted effort to bridge the gaps within Africa’s agricultural landscape, demonstrating that strategic partnerships and innovative solutions are essential to transitioning from scarcity to security in food production across the continent.
