Agriculture is a vital sector in Nigeria, contributing 23.7% to the country’s GDP and employing 35% of the labor force. However, the sector faces numerous challenges, including insufficient inputs and outdated technology for smallholder farmers and commercial processors, weak market connections, inefficient supply chains, and limited access to funding.
To mitigate these issues, The Global Alliance for Improved Nutrition (GAIN) supported the Agribusiness Innovation Challenge (AIC) program for early-stage agritech start-ups that are actively contributing to the supply chain efficiency in Nasarawa. The program was implemented by Ventures Park and it began on October 11, 2022, with 20 founders selected by top-level executives in Nigeria’s agribusiness ecosystem. 35% of the participants were women and 6% were over 35 to promote gender inclusion and information access for older individuals.
The AIC ran for three months and significant growth was recorded among its participants, many of whom were new to structured learning. The program covered a range of topics, including logistics & distribution channels, business modeling, and marketing and sales. These sessions were rich in value and simplified in communication. In addition to the training sessions with seasoned facilitators, participants were also matched with mentors to help them with the achievement of their goals as the program progressed.
During the AIC, the founders had two major events, known as Deal Day 1 and 2, where they had the opportunity to pitch their businesses to investors and venture capitalists and receive one-on-one feedback. The feedback has given them the confidence to pitch one last time at the program’s Award Day. Yakubu Jama, Director of the Ministry of Agriculture Lafia, and Vincent Aya, Director of the College of Agriculture Lafia, encouraged the founders to hold onto the things they learned during the AIC and pursue their passions. Mr. Jama emphasized that this is the path to improve living standards and boost Nigeria’s economy.
To wrap up the program, GAIN will be hosting the Nasarawa Agribusiness Innovation Challenge Award Day with keynote presentations, awards for top innovators, and networking opportunities. Don’t miss out on this exciting opportunity to be a part of the future of agribusiness in Nasarawa and beyond. To participate, kindly register by clicking on the link below: https://bit.ly/aicawardday
References
https://www.statista.com/statistics/1207951/gdp-distribution-across-sectors-in-nigeria/
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Supporting the Agricultural Industry in Nigeria: The Agribusiness … – TechCabal
