IMPENDING FOOD CRISIS : AGRO INDUSTRIAL TECHNOLOGY TO THE RESCUE. . . Prof. Oyebanji, Oyelaran--Oyeyinka

By Mike ALADENIKA. 

That the Covid-19  Pandemic and the ongoing war between Russia and Ukraine among other natural factors would have collosal consequences on Agricultural food production chain in Africa to the extent of a possible food scarcity is no longer news.

The news, however, is that Scientists of Nigerian extraction have been able to come up with postulations and workable theories that would enhance stable food production process which will, inturn, improve the foreign exchange earnings of African Nations. 

Addressing a zoom seminar organized by the International Affairs Committee of The Nigerian Society of Chemical Engineers (NSCHE), a division of Nigerian Society of Engineers, titled, ‘PROSPECTS AND CHALLENGES  IN AGRO-PROCESSING IN WEST AFRICA Prof.Oyebanji Oyelaran- -Oyeyinka said "the Special Agro-Industrial Processing Zones of the AfDB  would enable agricultural producers, processors, aggregators and distributors to operate in one vicinity, which would reduce transaction costs and sharing business development services for increased productivity and competitiveness.

Prof.Oyebanji Oyelaran-Oyeyinka who is the Senior Special Adviser to the President of The African Development Bank(AfDB) on Industrialisation said ‘‘The twin approach of growth strategies rely on imports substitution and exports of goods and services.  As imports grow, however, so must is the rate of export revenue in order to sustain economic growth.  Promoting relative balance of payments stability in order to secure the value of the domestic currency, and secure reliable foreign currency inflows, a country needs faster export revenue growth. A key challenge is our concentration on exports of oil and primary goods with relatively low-value added while importing high value-added goods including capital and intermediate goods. SAPZs will bridge infrastructure deficit and foster manufacturing, break the dependence on oil and raw material exports, SAPZs will help embark on urgent economic diversification through faster modernisation of agriculture.’’

Prof Oyelaran-Oyeyinka who is also a Chemical Engineer explained that "SAPZs were designed to concentrate agro-processing activities within areas of high agricultural potential, saying Nigerian leaders should  implement a bold and compelling industrial agenda for the country.

“Nigeria is crying for leadership that is accountable and is incorruptible. Leaders that will husband our assets to achieve tangible outcome by putting forth and aggressively implementing a bold and compelling industrial Agenda for our country.

“Economic history has shown that without diversification into industrial manufacturing including modernised agribusiness and services, and away from simple resource extraction, the long-term development prospects of countries are always bleak, he said.

He posited that "agro-processing will resolve the perennial foreign exchange and volatility challenges".

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