He said the productivity gap was not necessarily due to farmers\u2019 unwillingness to work but reflected limited access to the inputs and support needed to improve yields.\n<\/p>\n
\u201cThey are either using the incorrect seed, inadequate inputs, inappropriate agronomic practice, not because they are lazy,\u201d he said, noting that some farmers begin work as early as 4am.\n<\/p>\n
Bagudu urged businesses to invest across agricultural value chains, including farm input supply, production, processing and market access.\n<\/p>\n
He said raising farm productivity could increase output and improve farmers\u2019 incomes.\n<\/p>\n
The minister said the government planned to map economic opportunities across Nigeria\u2019s 8,809 wards to identify local needs and attract investment. He called for greater cooperation among federal, state and local governments and the private sector to expand economic activity.<\/p>\n
Read also:\u00a0Nigeria backed farmers with subsidies. Where is the cheaper food?<\/a><\/strong>\n<\/p>\n He also said public resources should be used to reduce the risks associated with private investment, particularly in sectors where financing constraints discourage businesses from committing capital.\n<\/p>\n \u201cBudget or public resources should be used \u2026 to de-risk private investment,\u201d Bagudu said.\n<\/p>\n He cited government support for the Bank of Industry, Bank of Agriculture and the National Agricultural Development Fund as part of efforts to improve financing for productive sectors.\n<\/p>\n Bagudu also called on businesses to expand domestic investment, saying Nigeria had the market to support more large-scale enterprises.<\/p>\n \u201cWhy not 100 other BUAs? Why not 100 other Dangotes?\u201d he asked, urging businesses to invest in ventures that could drive production and employment.\n<\/p>\n Read also:\u00a0Nigeria targets $30bn annual climate finance for smallholder farmers<\/a><\/strong>\n<\/p>\n He said government initiatives in consumer credit, mortgages and credit guarantees were intended to improve access to financing and support economic activity.\n<\/p>\n The minister added that investment in early childhood nutrition and skills development was important for improving productivity and preparing workers for changes in the labour market, including the growing use of artificial intelligence.\n<\/p>\n He acknowledged that the benefits of economic reforms were taking time to reach households and businesses. He called for continued cooperation between the government and private sector to translate reforms into higher productivity, job creation and improved living standards.<\/p>\n The Nigerian Economic Summit Group organised NES #32 in partnership with the Federal Government.<\/p>\n Source: <\/p>\n The federal government said about 90 percent of Nigeria\u2019s 42 million agricultural households may not be producing optimally, citing unsuitable seeds, inadequate farm inputs and poor agronomic practices as constraints… <\/p>\n","protected":false},"author":1,"featured_media":2355,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-2354","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/2354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/comments?post=2354"}],"version-history":[{"count":0,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/posts\/2354\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media\/2355"}],"wp:attachment":[{"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/media?parent=2354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/categories?post=2354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/globalnigerianews.com\/index.php\/wp-json\/wp\/v2\/tags?post=2354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Related News<\/h4>\n<\/p><\/div>\n
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