OPPORTUNITIES IN THE AGRICULTURAL VALUE-CHAIN: MAXIMISING ITS POTENTIALS.
“…that your big opportunity maybe right where you are now” appears to be the perfect narrative of the Nigerian agricultural space. Nigeria is a country blessed with approximately 82 million hectares of arable land with less than 42% of it being utilized for agrarian purposes, an estimated population of 200.96 million with active working population of 53.2% of the population. In the context of Nigeria, we are blessed with the land and water resources, predictable rainfall though this is subject to changes owing to the climatic conditions, sufficient manpower, access to mechanization though still in its infancy level and other necessary factors of production.
To the topic of the opportunities in the agricultural value-chain, for a better understanding of the subject matter, there must be an understanding of certain variables. To start with, a “value chain” is a sequence of related business activities beginning with the provision of specific inputs for a particular product, moving through the phases of primary production, transformation and marketing, and ending with the final sale of the product to consumers. In the agricultural space, food value chain involves the set of activities by which businesses receive agricultural raw materials and the raw materials undergo various processes, value is added to the agricultural produce (raw materials) through various processes for a valuable product to be produced. It must be understood that processes are involved in whatever value-chain activities that is to be practiced.
The need to add value for more profitability and economic benefit cannot be over-emphasized because in every activity, there is a bottom-line that seeks to be achieved.
In this post and further subsequent posts, we will be providing more insights into the opportunities in the value-chain of agriculture with more focus on crops grown across Nigeria.