17 March 2021 | 10:00 am to 13:00 pm (WAT)

Population growth remains a constant and unchanged factor driving global food scarcity, particularly where there is no complimenting increase in agricultural produce outputs. Despite oil, agriculture remains the base of the Nigerian economy, providing the main source of livelihood for most Nigerians. In 2017, farming alone accounted for about 68% of rural income in Africa and about half of the rural income in South Asia. Agriculture remains the largest sector in Nigeria contributing an average of 24% to the nation’s GDP between 2013 - 2019. The sector also employs more than 36% of the country’s labour force. While the Nigerian agricultural sector is mainly focused on crop production, which accounts for 90% of output, the value chain across the sector remains highly untapped. For example, analysis from the cocoa barometer suggests that in the production of a bar of chocolate, a marginal 6.6% of the value addition is in the production, while the remaining is in the processing, marketing and retail segments of the value chain. The value chain concept is an efficient optimization of all the linkages between the producer and final consumer through a strategic partnership among inter-dependent businesses that collaborate to progressively create value for the final consumer. Agric-food Value Chains are designed to increase competitive advantage through collaboration in a venture that links producers, processors, marketers, food service companies, retailers and supporting groups such as shippers, research groups and suppliers. Agricultural value chains encompass the flow of products, knowledge and information between smallholder farmers up to consumers and within the value chain help producers to prevent losses. Typically, value chain finance systems would allow borrowers to benefit from higher lending at better terms and obtain loans that reflect the cash flow pattern consistent with their producing, processing or trading activities. Such interventions are growing in popularity with donors as a means of promoting economic growth and poverty reduction. Notably, food is a common thread linking all 17 SDGs, given the interconnected economic, social and environmental dimensions of food systems. Many food systems are already falling short of the aspirations of the 2030 Agenda for Sustainable Development even as poverty and hunger remain entrenched.