Agriculture: AFDB Says Africa Has Potential To Become Net Exporter Of Commodities - Liberty TV/Radio - News - Voice For All! Vision For Alll!
Editor 2
April 27, 2019
The AfricanDevelopment Bank, AfDB says Africa has the potential to become a net exporterof agricultural commodities, replacing imports worth more than 110 billiondollars.
A statement by thebank’s Communication and External Relations Department said the continent canalso double its market share for select processed commodities.
It said Africa’sagribusiness sector was predicted to reach one trillion dollars by 2030,describing it as the next “oil sector”. According to the statement, Nigeria isin a position to provide leadership in Africa’s agribusiness sector.
It explained that thiswas necessary because of its vast agricultural resources and existing drive totransform its subsistence agriculture economy into a major global player.
To this end, AfDB saidthat it had concluded plans to host an investment forum on its SpecialAgro-Industrial Processing Zones (SAPZ) initiative in Abuja on April 30.