Sanwo-Olu, Bago, Kyari insist on competitive agric produce to boost foreign reserves
The Minister of Agriculture and Food Security, Senator Abubakar Kyari has said that the way out for Nigeria to grow its foreign reserves is by exporting agricultural produce that meets an acceptable international standard, and for the country to invest heavily in the agric sector.
Speaking at the First Bank 2025 Agric and Export Expo, held at Eko hotels on Tuesday, Kyari who was represented by Engineer Ibrahim Aikali said if Nigeria is determined to grow non oil export economy, agric sector is the major area to invest in.
He explained that, for the sector to succeed, there is need to build infrastructures.
“Infrastructure is not just about roads and ports, but it is about building efficiency into every step of the supply chain.
“Volumes are important, but volumes without quality will fail. Every tonne of cocoa must be of international accepted standard certified and traceable, with stronger laboratories, functional certification system and farmer training. We can ensure that our exports consistently meet global requirements and avoid costly rejection at the destination market, if we want to build a non oil export economy, storage, ports, and certification system are not rhetoric, they are fundamental.” Senator Kyari stated.
The minister stressed that president Bola Tinubu in his roadmap agenda “provides us with a map for economic reform, agriculture and food security, energy and natural resources, infrastructure and transportation, diversification and governance, we must also confront central issue of our economy, the strength of the Naira.
Our currency is only as strong as our export’s back up,” the minister stated.
He explained that exports earnings are what build reserves, reduce inflationary failure and stabilize the exchange rate.
Lagos State Governor, Mr Babajide Sanwo-Olu- Olu in his goodwill message at the event, stressed that Nigeria needs to urgently broaden its economic base by moving away from dependence on oil export, and embracing Agricultural sector as the export to generate revenue.
Sanwo-Olu commended President Tinubu for the effort he has taken so far in improving the exportation of Agricultural produce but admitted that what is exported in the agricultural sector is still far below what is expected.
He explained that his administration is committed to promoting agricultural sector by providing roads that leads to the market for farmers and providing digital platforms to ease trade process and also build partnership.
Also speaking at the event, Niger State Governor, Umar Bago said his state is excited with President Tinubu’s initiative for improving the agric sector.
He also promised to support the Lagos State government initiative to improve the agriculture sector by providing the state with 100,000 acres of land for its farming.
