Business
‘Future Of African Youths Lies In Agric’
The President of the African Development Bank (AFDB), Dr Akinwunmi Adesina says the future of African youths lies in unlocking the tremendous opportunities available in agriculture.
Adesina said this at the inauguration of the Akin Adesina Agripreneurs building which was held as part of activities to mark the 50th anniversary of the International Institute of Tropical Agriculture (IITA) in Ibadan.
He said: ”I firmly believe the future millionaires and billionaires of Africa will come from the agriculture sector.
“Africa is spending 35 billion dollars a year importing food. That is 35 billion dollars it should be keeping on the continent; that’s 35 billion dollars market each year for its young people to tap into to create new wealth.
“ But to do that requires totally changing the lenses with which we look at agriculture.
“Agriculture should no longer be seen as a way of life or a development sector, but rather as a business for wealth creation.”
He said many students now choose to study agriculture as a last option
“Our young ones have memories of deserted villages with poor farmers.
“ With a rapidly aging population of farmers, unless something is done, urgently, Africa will have no farmers left within 20 years.
“The immediate action, therefore, must be to change the perception of agriculture.
“ We must make agriculture cool,” he said. He said youths’ involvement in agriculture was key to sustainable economic growth and reduction of poverty across the continent. Adesina said that investing in the youth would protect the continent’s economy today and in the future.
He called on African governments to prioritise investments in youths and their business.
“The youths are like computer microchip processors inside of Africa’s economy. small, many, but if we’ll connected, will transform Africa’s economy with speed.
“Over the next 30 years, Africa’s GDP is estimated to grow by 500 billion dollars a year, if it is able to address jobs for its youth, develop its human capital and improve access to better healthcare for its youths.
“GDP per capita in Africa will rise by 55 per cent in the next four years and by additional 55 per cent through 2050, if Africa provides jobs for its youths.
“The youths in agriculture, the agripreneurs, have set sail to a better future. Let’s put wind behind their sails,” he said.
The AFDB boss promised to offer his unwavering support by working tirelessly for agripreneurs across Africa.
“It is my hope that Akin Adesina Agripreneurs Building will become the oyster from where the pearls of wealth in agriculture will develop.
“The bank will be investing 24 billion dollars in agriculture over the next 10 years, with sharp focus on agricultural value chains, agribusiness and agroindustrial development, a key component of our strategy is to scale up support to agripreneurs, “ he said.
In his remarks, Dr Nteranya Sanginga, the Director General of IITA, said that the building would be used to train African youths in order to help them unlock employment opportunities and drive development through agriculture.
“Dr Adesina has staunchly promoted the cause of the African youths, especially strongly supporting the IITA Youth Agripreneurs (IYA) over the years.
“Through his initiative, Jobs for Youth in Africa, the AFDB in collaboration with IITA would be scaling out the IYA model of youth engagement in agribusiness to create eight million agribusiness jobs within five years for youths.
“Over one billion dollars would be used to support agribusiness enterprises and jobs for young women and men who have embraced agriculture as a business.
“In appreciation of his continuous support and deep commitment of the youth, the IITA Board of Trustees, Management and staff, and the IITA Agripreneurs are preserving Dr Adesina’s legacy by naming the Youth Training Centre at IITA Headquarters after him,” he said.
MoniePoint Inc. a digital financial firm in Nigeria, has said it is empowering community pharmacists across the country with innovative payment solutions to improve access to drugs.
The financial firm said it had also provided loans for pharmacists under the aegis of the Association of Community Pharmacists of Nigeria (ACPN) to drive healthcare delivery in the country.
MoniePoint in a release titled, “Inside Nigeria’s community pharmacies: How Moniepoint drives healthcare access with payments and funding”, has reaffirmed its commitment to providing digital payment solutions to improve health outcomes in Nigeria.
The release examined how community pharmacies play a crucial role as vital access points for medical care in Nigeria, especially in areas with limited hospital or clinic access.
According to the release, the ACPN National Chairman, Ambrose Igwekwam, highlighted the critical role played by community pharmacies in Nigeria’s healthcare system over the years.
Igwekwam, however, expressed concerns over the challenges confronting the nation’s pharmaceutical industry which he said was hindering access to affordable medicines.
The pharmacist listed poor infrastructural systems, power, transportation, regulatory bottlenecks, importation dependency, and limited research opportunities as major challenges facing the pharmaceutical sector.
He also stressed the need for robust collaborative efforts with institutions like Moniepoint to strengthen the sector.
“As Nigeria continues to grow, improving local pharma manufacturing to meet the demands of this growth presents a key opportunity for us all.
“There is also the African Continental Free Trade Area Agreement, which is expected to boost our industry, especially when we start producing our drugs locally, which will provide the much needed foreign exchange from exports.
“We are also seeing advancements in digital health and technology which would hopefully deepen the practice of e-prescription in Nigeria”, the ACPN boss said.
Corlins Walter
In order to enhance customer service and streamline operations, the Chartered Insurance Institute of Nigeria (CIIN) has called on stakeholders in the insurance industry to embrace Artificial Intelligence (AI).
The President of the institute, Yetunde Ilori, made this call at the 2024 Office Representatives Committee (ORC) Workshop, organised by the institute, with the theme “AI and the Future of the Insurance Industry”, in Lagos.
Ilori at the event, emphasised the importance of AI adoption, noting that it was not a threat to jobs but rather a tool to improve efficiency across the insurance sector.
“It is not about AI taking over our jobs, but about us using AI to simplify processes and give maximum satisfaction to all the customers we serve whether as underwriters, brokers, loss adjusters, or in educating our members”, she said.
The workshop, which brought players in the insurance sector together, aimed to address how AI could be leveraged to transform business processes and improve customer interactions.
The Chairman of the ORC, Monica Nwachukwu, underscored the role of AI in modernising the industry, adding, “AI can automate customer and claims processes, allowing insurers to provide faster and more efficient services to their customers”.
She explained how AI could help extract data from legacy systems, enhancing decision-making processes.
“By integrating AI with APIs, insurers can feed valuable data into AI solutions to improve operations and customer service”, she added.
In his address, the Managing Partner of A4S and Training Heights, Orlando Odejide, stressed the need for companies to align their strategies with future technologies like AI, especially as they prepare for 2025.
“Any organisation that wants to grow into the future must have its strategic plan in place. If your strategy for 2025 is not ready, it should be done by October”, he advised.
He encouraged participants to think critically about how AI could be integrated into their business models to ensure they remain competitive.
“The idea is for you to use this workshop as a platform to think about your organization and how AI can help streamline your processes and improve growth”, Odejide noted.
In order to gain global respect and recognition, the National Space Research and Development Agency (NASRDA) has reaffirmed its determination to pursue its goal in ensuring that Nigeria’s space capabilities are recognised on the world stage.
The agency also reaffirmed its commitment to positioning Nigeria as a key player in the global space economy.
In a statement by the Director of Media and Corporate Communications, Dr. Felix Ale, NASRDA revealed that the Director-General of the agency, Matthew Adepoju, emphasised this during recent engagements at the 79th United Nations General Assembly and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture (NACCIMA) and Global Alliance Business Association international conference in Michigan, United States.
The statement noted that Adepoju outlined a forward-thinking agenda, stressing the importance of Nigeria’s space programme as a leader in research, exploration, and technological innovation.
“Our goal is to ensure that Nigeria’s space capabilities are recognised on the world stage.
“We must foster collaborations with global space agencies to enhance our satellite capabilities and technological infrastructure”, he stated.
The NASRDA boss said the agency is focusing on enhancing satellite capabilities, expanding international collaborations, and leveraging space science for national development.
He said NASRDA will have no stone unturned in pursuit of excellence, ensuring the agency secures the necessary resources and recognition to propel it forward.
“The relationships we build today will pave the way for tomorrow’s advancements in space science.
“Innovation and progress thrive in an environment built on collaboration and inclusivity”, he stated.
He emphasised that with the support of the government, international partners, and a dedicated team, NASRDA is poised to make significant strides in the evolving global space landscape.
“We are on the brink of a new era for Nigeria’s space agency. Together, we will ensure our nation stands out in the global space economy”, he said.
Corlins Walter