Business
Stakeholders Inaugurate Cooperative To Boost Industrial Agriculture
Some stakeholders in agri
culture yesterday called for replacement of subsistence farming with mechanised farming to eradicate poverty and guarantee food security in the nation
The stakeholders, at the inaugural meeting of the National Cooperative for Commercial and Industrial Agriculture (NACCIA) in Lagos, stressed the need to organise the sector for higher productivity.
Reports say that NACCIA was formed to reposition agricultural practice in Nigeria to global standard.
The founder of the cooperative, Chief Felix Okonti, told newsmen that NACCIA was formed to address problems that reduced output of farmers in Nigeria despite massive deployment of labour.
Okonti, who is also the Managing Director of Lix-Konti Ranch, said that NACCIA was forming farmers into clusters to relate as federating members to address problems of funding, processing, storage and markets for produce.
“What we want to achieve is to do it differently for Nigeria whereby less than a hundred or a thousand people can produce what more than 50 million people are producing today.
“The aim is to place Nigeria in the map as industrialised agro based commercial country that can fulfil its potentials.
“Why would Argentine maize producer produce 16 tons per hectare, while the Nigerian farmer is doing 0.3 tons per hectare?’’ he queried.
Okont said that NACCIA already had over 100 federating units where every farmer ran his farm but fell back to the cooperative to cultivate, process and sell without losses.
He said that the cooperative would also set up processing plants for clusters of federating farms that would extend the model to all farmers in their environment to curb wastages and financial losses.
Okonti said members would be mobilised with a minimum of N100 million to start, adding that various committees were being formed to properly guide farmers towards investments.
He appealed to the Federal Government to construct roads leading to farms and develop other infrastructure and power to promote commercial agriculture.
Prof. Mohammed Yisa, the immediate past Deputy Speaker of the Kwara State House of Assembly, who was chairman of the occasion, lamented that Nigeria imported almost all agricultural products it could produce.
“It is not good for a country with over two million hectares of arable land to be buying things. “We cannot rely on hoe and cutlass or peasant farmers who do about two acres to feed us; that is why we need mechanised farming’’ he said.
Yisa, a former Commissioner for Agriculture, said that there was need to revolutionalise the sector to attract foreign investors and encourage Nigerians to do business and plan for it.
The Managing Director and Chief Executive Officer of the Bank of Agriculture (BOA), Dr Danju Danbala, delivering a keynote address, said commercial agriculture was the antidote to poverty and food insufficiency.
“In many developed economies cooperatives are known to have made invaluable impact in agriculture, commerce, industry and have transformed their society greatly. Not so in Nigeria, why?”, he said.
Kolomoni Microfinance Bank has awarded grants to five female entrepreneurs to boost their businesses as part of its commitment to promoting women in business.
The initiative, organized to mark International Women’s Day, was themed “Accelerate Her Growth.”
According to the bank, the decision to support women was inspired by World Bank data, which shows that 41 percent of Nigeria’s micro-businesses are owned by women.
Delivering the keynote address, business strategist, Ebun Akinwale, emphasized that entrepreneurship requires resilience, creativity, and passion.
She illustrated this by recounting her own business challenges and highlighting the critical role passion plays in overcoming obstacles.
The event underscored Kolomoni’s mission to empower women and support small businesses in Nigeria.
Other speakers at the occasion were Odunayo Oyebolu, a seasoned entrepreneur; Victori Ajiboye, a marketing strategist with global experience; and Simi Ojumu, a finance expert.
The beneficiaries said the financial support was a validation of their hard work and a boost of confidence towards scaling through in their businesses.
The winners were selected after sharing their entrepreneurial journeys and presenting business proposals for financial assistance from the bank.
The 8th edition of the Nigeria Small and Medium Enterprises (SMEs) Summit and Awards (Nigeria SMEAwards) is set to take place in Lagos for the first time in its history, marking a significant milestone for this prestigious event.
Endorsed by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the annual awards celebrate the entrepreneurial spirit driving Nigeria’s economy.
The visionary convener of NigeriaSMEAwards 2025, Adedayo Olalekan, said, “Governors from Zamfara, Sokoto, Ebonyi, Borno, Enugu, Ekiti, Benue, and Kaduna States have all implemented transformative initiatives that have greatly benefitted local enterprises.
“Their contributions will serve as a beacon of inspiration for the nation.”
Speaking at a recent press conference in Lagos, Olalekan emphasised that the event would introduce a fresh and unique approach, moving away from tradition.
“Despite economic challenges, Nigerians continue to show an unwavering commitment to progress”, he said.
He noted that the awards will not only honor outstanding individuals, but also recognise the critical role state governments play in nurturing vibrant SMEs.
“State governments have been instrumental in fostering a supportive environment for SMEs, which in turn benefits both the awardees and the larger economy.
“With major banks like Providus, Access, and First Banks competing for top honors, the 8th NigeriaSMEAwards promises to be a night of celebration, recognising exceptional contributions to Nigeria’s SME landscape”, Olalekan added.
Amid global challenges such as inflation, geopolitical instability, and the ongoing conflict in Ukraine, Nigerians continue to show remarkable resilience.
Their efforts, according to reports, have contributed to job creation, economic growth, and overall prosperity, with SMEs at the forefront of this success.
This year’s awards will recognise governors who have made significant strides in advancing the SME sector within their states.
Small and Medium Enterprises (SMEs) consultants in Rivers State have called on entrepreneurs to be focused and avoid distractions.
The experts, who were speaking on the recent developments about the change of leadership in the state, said entrepreneurs need to put more efforts in their businesses in order to break even in the present situation in Rivers State.
Speaking in a chat with The Tide, an international SMEs consultant, Amb. Larry Goodwill Ajiola, said the political moves is capable of distracting SMEs who are not grounded in their businesses, adding that “the serious minded business men and women would utilise the opportunity to increase their revenues”.
Amb Ajiola, who is the President and Chief Executive Officer (CEO) of Rumuomasi Co-operative and Credit Society Limited, Port Harcourt, said, “Rugged entrepreneurs look out for business opportunities in situations around them, whether good or bad”.
He reiterated that the loan facility given to 3,000 SMEs in the state revived and expanded businesses, adding that the empowered businesses should continue to push, no matter the situation.
“credit is a powerful tool for achieving financial security.
“We can only keep imagin the economic value that the over 3,000 MSMEs would add to the positive economic dynamics of Rivers State and the Local Government Areas in terms of Gross Domestic Prooduct (GDP), increased tax returns, employment creation, income distribution, and production of goods and services”, he said.
Another SMEs Expert, a business consultant and SMEs trainer, Mr. Chisom Sam-Orji, in his advice, noted that every SME in the state should realize that change is the only constant thing.
He said SMEs should also know that “tough times never last, but tough people do”, adding the need for every entrepreneur to stay focused on creating value and remain resilient.
“This is not the time to be distracted by every noise around your space, but to maximize every time you have to focus on the essentials and keep creating value.
“For some people, it may just be the time to diversify, create new products and services to serve a new or existing market. But this must be based on the facts available to you via research and market surveys”, he said.
The SMEs expert also said the present time in the life of an entrepreneur is a time to cut off unnecessary excesses that surround one’s business.
“Those extra costs that may hamper your growth in this season and beyond, and focus on just essentials.
“SMEs should find certain leverages that are available to aid their business growth. This could be in form of grants, knowledge, and other leverage tools.
“Collaboration is one big way to grow in this season. Finding ways to collaborate with like minds instead of competing could enable a product or service gain advantage in the market and beyond.
“They should also find ways to sustain and grow their customer relationship as this is key to sustaining business flow. They must seek new and efficient ways to serve their customers and gain their loyalty”, he stated.
He further called on every entrepreneur to keep building capacity and never take their eyes off their visions, adding the need to muster every courage it takes to keep building and moving forward.
Lilian Peters