By Rotimi Famakin
The need to improve the knowledge of Nigeria’s growing younger population towards agricultural development and addressing the challenges affecting agricultural productivity formed the focus of the Distinguished Personality Lecture organized by the Department of Agricultural Economics, University of Ibadan.
The lecture, held at the Trenchard Hall of the institution, was delivered by the country’s Director of the World Bank, Dr Ndiame Diop.
In the lecture entitled: “Leveraging Agricultural Transformation for Sustainable Economic Development in Nigeria: Key considerations”, the World Bank Director for Nigeria said the growing younger population of the country may not translate to economic prosperity if they remain less knowledgeable.
Dr Diop, who compared the statistics of Nigeria’s population some years ago with the present statistics, noted that Nigeria’s low population of workers in the informal sector would not reduce poverty, hence the need for the government to work towards equipping the population with professional knowledge.
Dr Diop therefore suggested an enhanced integration of small holder farmers, fixing of deplorable rural roads to link rural agricultural producers with urban markets to prevent post-harvest losses, ensuring access to power, finance and encouraging unhindered cross-border agricultural business.
Dr Diop equally advocated leadership with zeal to elevate agriculture, credit facility, stability of players in the micro economy, increase in budgetary allocation, encouraging mechanized agriculture to subdue insecurity among others.
Earlier, the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, explained that President Bola Tinubu saw the huge economic potential in Nigeria’s agriculture sector, adding that his renewed hope agenda has led to the formation of the Ministry of Livestock Development.
“The theme of this lecture aligns with President Bola Ahmed Tinubu’s administration’s prioritisation of agriculture because it believes the sector is key to achieving its goal of inclusive, sustainable economic growth and development. Employing 70 per cent of the nation’s rural population, agriculture remains for the administration a potent tool to fight unemployment, hunger, and poverty.”
Senator Bagudu, who is also a former governor of Kebbi State, said President Tinubu’s administration has increased budgetary allocation for agriculture from N228.4 billion to N362.94 billion.
“The sector has enjoyed increased budgetary allocation since President Tinubu’s administration’s inception, from N228.4 billion to N362.94 billion in 2024 and N826.5 billion in the 2025 budget.
This is in addition to the N100 billion National Agricultural Development Fund, which the President created in 2023 to address agricultural financing challenges upon declaring a state of emergency in the sector. The Central Bank of Nigeria also donated 2.15 million bags of fertilizer worth N100 billion to support farming”
In their separate goodwill messages, representatives of agricultural Research Institutes in Oyo State described the lecture as timely and an eye-opener, adding that their institutions were working in tandem with the goal of the Federal Ministry of Agriculture and Food Security.
Vice Chancellor, University of Ibadan, Professor Kayode Adebowale, represented by Dean of Faculty of Science, Professor Oludayo Sonibare, said agriculture is a vital sector in the country, providing raw materials, food and enhancing foreign exchange for Nigeria before independence.
He noted that agriculture was the mainstay of Nigeria’s economy, accounting for over 63 percent of the country’s gross domestic product, GDP.
The Head of the Department of Agricultural Economics, Professor Bolarinwa Omonona, hinted that agriculture remained the way out for Nigeria if the country must achieve the desired economic growth
The lecture featured the presentation of awards to the guest lecturer, Dr Ndiame Diop and Minister of Budget and Economic Planning, Senator Abubakar Bagudu.
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