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THE SITUATION

The Government of Nigeria (GON) is in a hurry to build a private sector led agribusiness ecosystem that addresses two fundamental gaps in the economy: reduce the heavy import dependence for basis food items; and increase foreign exchange generation from exporting many cash crops that Nigeria produces. The GON looks up to the private sector to play a leadership role in achieving these two objectives. As clearly elucidated in the Agriculture Promotion Policy framework, Government recognizes that the “success of the new agricultural policy will be driven by the levels of engagement of market place participants, farmers, states, investors, financial institutions, and communities. Performance will be tracked and published periodically to help inform smart decision making” (Chief Ogbeh, Agriculture Promotion Policy document, P.3).

OUR SOLUTION

One approach to track the performance of the agribusiness sector sustainably is a public-private partnership model call “The Nigeria Agribusiness Register”, modelled after the concept of Business Registers. It produces a quarterly statistics on agribusiness population, openings, closures, intentions and demography. It is a veritable and a first of its kind platform for aggregating investments in the agribusiness supply chain across the country that can be used to measure growth, jobs and inclusiveness. The Register will capture investor preferences, identified opportunities within geographies, as well as value chain and supply chain focus. Focus will be on the priority value chains of the Government of Nigeria which currently includes rice, wheat, maize, aquaculture, dairy milk, soya beans, poultry, horticulture, sugarcane. Others include cowpea, cocoa, cashew, cassava, ginger, sesame, oil palm, gum arabic, yam, horticulture, beef, and cotton.

The Objectives of the Register

The Register’s primary objective is to identify and track agribusiness investments that are above $1 million and provide statistical data and information for measuring employment and inclusive growth in agribusiness demography. In its beginning days, focus of the Register will be on research, intelligence and networking to identify, track and profile investments. The Register will in addition provide innovative business development services to existing investors and new investors across the selected value chains.

VALUE PREPOSITION
  • Provision of researched information, data and analysis on agribusiness investments
  • Provision of supportive services to facilitate investments
ACTIVITIES
  • Improve identification of agribusiness investments through provision of researched information (census of establishments).
  • Promote Nigeria agribusiness potentials and opportunities locally and internationally through presentations to targeted audiences.
  • Harvest announcements and intents of new investments through Letters of Intents from potential investors.
  • Provide regular information on investment trends, analysis, summaries, destination trends, publicity and media briefings, etc.
  • Knowledge Partnership: Platform for disseminating recent value chain study reports.
  • Provision of business development services to support investors.
EXPECTED OUTCOMES
  • Improved identification of investments in the agribusiness space.
  • Increased awareness of proposed and existing investment projects through improved tracking and count of investments.
  • Increase domestic and foreign capital flows into Nigerian agribusiness.
  • Advance agribusiness investments by facilitating dialogues between project promoters, government agencies and development partners to address barriers and challenges.
  • Agribusiness investment projects are aided and advanced by supply of innovative business development service solutions.
  • Inclusive agricultural growth achieved.
TARGET AUDIENCE
  • Domestic and Foreign Investors
  • State Investment Promotion Agencies
  • Policy Makers
  • Development Partners
  • Researchers
TARGET AUDIENCE
  • Students
  • Community Leaders
  • Farmers and Association Leaders
  • Nigerians in Diaspora
  • Diplomatic community etc.)

The Indicators of Achievement

The following will be indicators of achievement of the Register’s activities:

INDICATOR
  • Improved identification of investments in the agribusiness space.
  • Number and value of investments increased by xx % every quarter.
  • Baseline: value of investments as at December 2017 from LOIs from Grow Africa.
  • New Alliance for Food Security efforts and FMARD’s records.
INDICATOR
  • Increased awareness for proposed and existing investment projects through improved investments tracking.
  • xx% increase in the number of investments in the database, measured every quarter.
INDICATOR
  • Investment projects are aided and advanced by supply of innovative business development service solutions.
  • Number of innovative business development service solutions available through the Register.
  • Number and value of BDS received and sold.
INDICATOR
  • Inclusive agricultural growth achieved
  • Number of small holder farmers and vulnerable groups (dis-aggregated by age and gender) integrated into supply chain
    investment projects captured by the Register

Our Research and Engagement Capabilities

The Nigeria Agribusiness Register continues to build its capabilities to engage and source information that are current and relevant to update the Register and undertake business development services. Currently we have identified over 1,000 sources of information from 50 categories including categories like:

  • Nigerian Banks Agri Desk Officers,
  • Nigeria Agriculture Journals,
  • Foreign Agriculture Journals and Magazines,
  • Nigerian Field Agronomists Network (covering 36 states and the FCT)
  • Heads of Agricultural Development Projects,
  • Agri Desk Officers at Federal Ministry of Agriculture,
  • Agri Desk Officers at Federal Ministry of Industry, Trade and Investment,
  • Nigerian Commodity Associations.
  • Agricultural Market Price Information Providers,
  • Agri-focused  Private Equity Funds,
  • International NGO and Forums.
  • Agric Statistics Providers,
  • International Commodity Alliances,
  • Social Impact Fund Providers,
  • Donor Funded Agri Development Value Chain Projects,
  • Nigerian States’ Investment Companies & Investment Promotion Agencies/Committee
  • Heads of Agribusiness Desks in Nigerian Newspapers
  • International Commodity Alliances (e.g. The African Cashew Alliance, Global Shea Alliance)
  • Top 5 States producing each crops covered by the Register
  • FDI Projects.
  • Foreign Agricultural Chamber of Commerce And many more
LATEST AGRIBUSINESSES

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Nigeria Agribusiness Register

“…. Think about it. The size of the food and agro business sector in Africa is going to be in
trillion dollars by 2030. Think of it that way…”

Dr. Akinwumi Adesina, President of the African Development Bank and former
Minister of Agriculture of Nigeria.