The African Development Bank AfDB has advised Nigeria to formulate appropriate and sustainable strategies to promote agro-industrialisation to foster domestic and export competitiveness in the agro-business industry.
The statement by the bank’s Communication and External Relations Department, reported Banji Oyelaran-Oyeyinka, Senior Special Advisor on Industrialisation to AfDB President to have given the advice at an event.
It further said that Oyelaran-Oyeyinka gave the advice at the Feed Nigeria Summit 2019 held in Abuja.
He explained that once such strategies were put in place, the outcome would generate jobs, reduce poverty, improved livelihoods and quality of lives through increased contribution of manufacturing to Gross Domestic Product GDP.
He said Nigeria like other African countries needed to focus on exporting processed agro-products in general.
The advisor said it was important to identify which were priority products for individual countries in terms of food security and export advantage.
