Ironically, Nigeria, according to Audu Ogbeh, former Minister of Agriculture, spends
about $22 billion annually to import food into the country.
But with sustained gains from the Agric Expo, more funds would be available to
agric entrepreneurs to improve production, and reduce the high importation of food
that has negatively impacted Nigeria’s Balance of Trade.
With more funding, the bank assured that Nigeria can be self-su<cient in producing
things it has comparative advantage on, especially rice, the staple food, which can
be grown across the country.
As well, improved funding in the agric sector will result in more entrepreneurs, more
investments, more hands in the farms, more food produced, huge foreign exchange
earnings from exportation, as well as, less crime in the country. Though the National
Bureau of Statistics (NBS) report stated that the value of agricultural exports rose
by 115.1 percent in the fourth quarter of 2018, the country can double the value if
agric entrepreneurs are nanced and guided, which makes the First Bank Agric
Expo very imperative.
As a continuous nancier of credit worthy agro-allied businesses, the bank is rolling
out the drums once again to hold the third edition of the agric expo. Like the
previous editions, the expo will hold on August 30, 2019 at the Eko Hotel and Suites,
Lagos with the theme, “Agricultural Value Chain – Spotlighting Opportunities and
Managing Risks” and would have Professor Benedict Oramah, president, AFREXIM
Bank, as the keynote speaker.
It will host over 600 delegates and over 60 exhibitors who will display the latest
technology in farm equipment, tools and machineries, as well as, packaged nished
agricultural produce, logistics and supply, thereby keeping the participants and
sundry agribusiness practitioners abreast with new opportunities in the Agricultural
Besides the plenary session, the expo will feature three masterclasses with in-depth
analysis on specic areas of Agribusiness, facilitated by enterprising Subject Matter
Experts (SMEs). The masterclass facilitators include; Leonard Anyanwu, Group
Executive Director, Saro International Limited; Segun Ogunwale, Team Lead,
Kominity Digital and Bamidele Ayemibo, Managing Director, 3T Impex Trade Centre,
who will provide insight, as well as, share success stories and experiences.
For the agric entrepreneur looking to grow your business, there are many reasons
to be at the expo as FirstBank has a large base of agribusiness clients across
Nigeria who you will likely meet.