Nigeria must shift focus from merely growing crops to processing agricultural produce into finished and value-added products if it is to unlock the full potential of its agricultural sector, Abdul Rabiu, executive chairman of BUA Group, has said.
Rabiu stressed that greater investment in agro-processing would boost local production, create jobs, reduce post-harvest losses and strengthen Nigeria’s economy by ensuring that more value is retained within the country rather than exported in raw form.
Speaking on the topic, “Growth that Works: Building a New Economic Accord for Nigeria”, at the 32nd Nigerian Economic Summit on Monday, he emphasised the need for the agricultural sector to move beyond just growing crops to agro-processing to be more impactful.
“Industrialisation must transform lives, provide opportunities for farmers and SMEs. The future of Nigeria’s agricultural sector goes beyond growing crops to processing, and becomes a major producer of consumables for Nigerians and African markets,” he said.
Nigeria stands at a pivotal moment in its economic journey. Landmark reforms including exchange rate unification, the removal of fuel subsidies, and banking sector recapitalisation have begun reshaping the nation’s economic landscape and laying the foundation for long-term stability.
Yet, reform implementation alone is not enough. The true measure of success lies in translating these changes into tangible outcomes that improve livelihoods, create opportunities, and drive shared prosperity.
To navigate the economic murky waters, he said that Nigeria’s future prosperity must be built on adding value, transforming from import-dependent to export-oriented, amid the various reforms of the federal government, which he insists must be geared towards a more friendly business environment.
“Industrialisation requires the right infrastructure, and infrastructure is not just all about building roads. No country prospers building on import consumption; Nigeria must develop what it consumes.
“Industries need more long-term financial support to create jobs for Africans. We can’t expect businesses to make long-term commitments if they cannot get a conducive business space,” he noted.
Moreover, he outlined some factors for building growth that work in Nigeria, such as a stable policy, which he hinted will help businessmen and women to plan and project their business trajectory.
He also said that human capital should be prioritised, emphasising that Nigeria’s greatest resource remains its young population, but he maintained that population alone does not transform into prosperity without investing in the people.
“Population alone is not prosperity; it must be harnessed and organised,” he noted.
However, he emphasised that for Nigeria to make growth that works, there must be partnership between the government and private sectors.
“There must be a partnership between the government and private sectors, and every Nigerian has their responsibility to build and develop the country,” he said.
Charles Ogwo is a proactive journalist, driving education, and business innovations for over 10 years. He leads initiatives leveraging tech to enhance storytelling and build topnotch performing team. Charles is passionate about harnessing technology to inform, engage and empower communities.
