{"id":9462,"date":"2024-02-09T07:19:01","date_gmt":"2024-02-09T07:19:01","guid":{"rendered":"https:\/\/angolanembassy-nga.ao\/?p=9462"},"modified":"2024-02-09T07:19:02","modified_gmt":"2024-02-09T07:19:02","slug":"nigerias-food-production-to-hit-e62bn-in-2024","status":"publish","type":"post","link":"https:\/\/angolanembassy-nga.ao\/?p=9462","title":{"rendered":"Nigeria\u2019s food production to hit \u20ac62bn in 2024"},"content":{"rendered":"\n

By\u00a0\u00a0Edidiong Ikpoto<\/a><\/p>\n\n\n\n

Nigeria\u2019s food production will rise by 48 per cent to \u20ac62.6bn between 2021 and 2024, according to Fairtrade and OTACCWA.<\/p>\n\n\n\n

In a statement, Fairtrade and OTACCWA, organisers of the Nigeria Agrofood and Plastprintpack trade show, disclosed that the country\u2019s food production had improved by 39.6 per cent from \u20ac26bn in 2016 to \u20ac36.3bn in 2020.<\/p>\n\n\n\n

Senior Project Manager at Fairtrade, Freyja Detjen, noted that with investments in food and packaging technology amounting to \u20ac363m in 2022, Nigeria stood as Africa\u2019s second-largest investor, trailing only South Africa with \u20ac381m and leading Egypt with \u20ac319m.<\/p>\n\n\n\n

She said, \u201cNigeria\u2019s food production has witnessed a remarkable surge of 39.6 per cent in recent years, from \u20ac26bn in 2016 to \u20ac36.3bn in 2020, projected to rise by 48 per cent between 2021 and 2024, from \u20ac42.3bn to \u20ac62.6bn.<\/p>\n\n\n\n

\u201cDespite significant investments in local food production, Nigeria\u2019s food imports totalled<\/p>\n\n\n\n

US$6.9bn in 2022, positioning the nation as one of Africa\u2019s foremost food importers.<\/p>\n\n\n\n

\u201cWith \u20ac143m in 2022, Nigeria emerges as the second-largest investor in plastics technology in Africa, showcasing an annual growth rate of 17.6 per cent between 2016 and 2022.\u201d<\/p>\n\n\n\n

According to a report by the Food and Agricultural Organisation, Nigeria has 70.8 million hectares of agricultural land area with maize, cassava, guinea corn, yam beans, millet and rice being the major crops.<\/p>\n\n\n\n

The report said that despite the contribution of agriculture to the economy, Nigeria\u2019s agricultural sector faces many challenges which impact its productivity. These include: poor land tenure systems, low levels of irrigation farming, climate change and land degradation. Others are low technology, high production cost and poor distribution of inputs, limited financing, high post-harvest losses and poor access to markets.<\/p>\n\n\n\n

Meanwhile, following the fruitful collaboration since the 2021 event, Fairtrade and OTACCWA, the Organisation for Technology Advancement of Cold Chain in West Africa, said they would  co-organise the 6th West African Cold Chain Summit and Exhibition by OTACCWA alongside Agrofood and Plastprintpack Nigeria 2024.<\/p>\n\n\n\n

It will feature the 3rd Annual MFI Awards and the Millers for Nutrition Country Launch \u2013 powered by TechnoServe via a Bill and Melinda Gates Foundation-sponsored initiative \u2013 the Millers for Nutrition Coalition \u2013 M4N.<\/p>\n\n\n\n

The organizers added that several Nigerian ministers and members of the Dangote family and the Dangote Foundation would present the awards to the CEOs of the top five brands in the wheat flour, edible oil, and sugar industries.<\/p>\n\n\n\n

Also on the menu is a top-level three-day conference with 20+ sessions and 70+ speakers. Bureau Veritas, a company which specialises in testing, inspection and certification services, is the Registration Sponsor of the event.<\/p>\n\n\n\n

Detjen said over a hundred world-class exhibitors from Austria, Bulgaria, China, France, Germany, Ghana, India, Italy, the Netherlands, Nigeria, Poland, South Africa, Spain, Taiwan, Tunisia, T\u00fcrkiye, and Ukraine, will showcase tailored products and solutions for the Nigerian market.<\/p>\n\n\n\n

Edidiong Ikpoto<\/a><\/strong><\/p>\n\n\n\n

The PUNCH journalist, Edidiong, holds a First Class degree in Media Studies. He has over five years experience with specific interests that span across business journalism, climate change and human interest stories.<\/p>\n","protected":false},"excerpt":{"rendered":"

By\u00a0\u00a0Edidiong Ikpoto Nigeria\u2019s food production will rise by 48 per cent to \u20ac62.6bn between 2021 and 2024, according to Fairtrade and OTACCWA. 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