Daily Trust

‘Agribusi­ness can con­trib­ute N402trn to GDP’

- From Chris­tiana T. Alabi, La­gos Business · Nigeria News · Ecology · Agriculture · Industries · Nigeria · Lagos · Lagos State · Lagos

The Chief Ex­ec­u­tive Of­fi­cer (CEO) of Green Ea­gles Agribusi­ness Solutions Lim­ited, Taiwo Oluwadahus­hola, has said agri­cul­ture busi­ness can con­trib­ute N402 tril­lion to the Gross Do­mes­tic Prod­uct (GDP) of Nige­ria if it is well har­nessed.

Speak­ing in La­gos at a sym­po­sium on “Green Wealth Project” for co­op­er­a­tives along with the state Min­istry of Com­merce, In­dus­try and Co­op­er­a­tives, he said this would re­quire es­tab­lish­ment of in­te­grated farm es­tates in every lo­cal govern­ment area to yield a rapid in­crease in crops and live­stock.

He ex­plained that, “In­te­grated farm es­tates of at least 1,000 hectares will be estab­lished in each of the 774 LGAs across Nige­ria.”

Green Ea­gles Agribusi­ness So­lu­tion, he said, was set to spear­head the cre­ative re­struc­tur­ing and in­no­va­tion re­quired to achieve the goal of Green Wealth Project.

He said, “Our pro­jec­tions show we can as­sure an an­nual re­turn of 30 per cent to spon­sors, that is 15 per cent every six months, and at the end of each in­vest­ment cy­cle, a spon­sor may re­quest for a roll-over or prin­ci­pal re­pay­ment.

“Our re­search re­veals that as we col­lab­o­rate to achieve the Green Wealth ob­jec­tives, we would to­gether drive an an­nual GDP of up to N402trn.”

The La­gos State Min­istry of Com­merce In­dus­try and Co­op­er­a­tives, en­cour­aged co­op­er­a­tive so­ci­eties to take ad­van­tage of the op­por­tu­nity the project presents, say­ing, “This is in­deed a good op­por­tu­nity for co­op­er­a­tive so­ci­eties to in­vest in agribusi­ness, es­pe­cially now that the na­tion is di­ver­si­fy­ing into agri­cul­ture. The Green Wealth Project is a laud­able ini­tia­tive.”

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