In order to give direction for successful agricultural practices for the year, some experts in the sector have met and come up with the need for agribusiness investors and farmers to consider several indices before setting their plans for the year and warned them to be wary of foreign loans during this period.
This warning was issued in Ibadan, at a lecture titled “Economic Outlook and Agribusiness Direction in Year 2022,” organized for members of the Oyo State Chapter of the Institute of Agribusiness Management Nigeria (IAMN) under the chairmanship of Mr. Olukunle Samson.
IAMN was established in 2015 to provide a functional platform that facilitates intellectual stimulation and the exchange of knowledge and opportunities within the ever growing agribusiness community in Nigeria.
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The institute is a business membership and training organization for practitioners operating within the food and agricultural value chains in Nigeria through the provision of an intellectual platform for the advancement of trade, capacity, and enterprise activities within the agribusiness industry in Nigeria.
Dr. Oreitan Adigun, a member of the National Economic Council, who was the guest speaker, explained that this is not a good time for foreign loans, citing the unstable value of the naira to buttress his point that this is the time to invest wisely in exports rather than imports to earn foreign exchange.
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Adigun went on to emphasize that agribusiness opportunities are numerous and range from food and livestock production, processing, storage, transport/logistics, marketing, commodity trading, consultancy, agro export, among others, adding that farmers should be more sensitive to macroeconomic parameters, the general price level, inflation, and Money Policy Rate (MPR).
The chairman of the institute, on his own, narrated that the gathering was to inform and educate members on what to look out for in the coming year and how to perform better in terms of investment and everything relating to agribusiness.
