Daily Trust

‘Agribusine­ss can contribute N402trn to GDP’

- From Christiana T. Alabi, 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.”

Newspapers in English

Newspapers from Nigeria