Agric sector potential to hit $1trillion by 2030 – AfDB

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From: Bamidele Fashube, ABUJA

Dr. Akinwumi Adesina, President of the African Development Bank (AfDB) has said the agricultural sector deserves all required supports as it will cater for food need of 2.5 billion people by 2050.

He said potentials in the sector are already valued at $1 trillion by 2030, thus youths should consider taking advantage of opportunities inherent in it.

Speaking while receiving honorary Doctorate of Science awarded by the Federal University of Agriculture (FUNNAB) in Abeokuta, Nigeria, on Tuesday, in honour of his works in the sector across the continent, it is people that would feed the increasing population of Africans pegged at 2.5 billion.

“The size of food and agriculture in Africa will rise to $1 trillion by 2030. The population of Africa, now at 1.2 billion, will double to 2.5 billion by 2050. They all must eat. And only through food and agribusiness can this be achieved,” he added.

He charged the varsity students on important role they play in the society.

In a statement issued by Fatimah Abubakar, Adesina said the AfDB was spearheading efforts to feed Africa and was investing $25 billion over a ten-year period to transform the continent’s agriculture sector.

“What Africa does with food will determine the future of food, given that 65% of the arable land left to feed the world is here”, Adesina said.

“I am delighted to see so many of our young people engaged in agriculture arising from the Youth Employment in Agriculture initiative launched when I was minister to get the youth into agriculture as a business.  From their innovations in the use of drones, food processing, packaging, transport and logistics and marketing, they are already unlocking the opportunities in agriculture,” he added.

He urged agricultural universities to optimize their role in linking research, innovations and technologies to farmers and the food and agriculture industry.

“Africa’s youth must become leaders to help feed our world,” he advised.

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