Business
Group Proposes New Standard For Agric
The Montpellier Panel has suggested a new standard for African agriculture in which the techniques of sustainable innovations are used by smallholder farmers to address the continent’s food and nutrition crisis.
This is contained in a statement by Mr Mike Shanahan, the Press Officer of the group, made available to newsmen in Abuja on Wednesday.
The Tide source reports that the Montpellier Panel is a group of experts from the fields of agriculture, sustainable development, trade, policy and global development chaired by Prof. Gordon Conway.
Since March 2010, the Panel has worked together to make recommendations to enable better European government support of national and regional agricultural development and food security priorities in sub-Saharan Africa.
The, group, in its report, said that term “Sustainable Intensification” has come to take on a highly charged and politicised meaning, becoming synonymous with big, industrial agriculture.
It added that as the world strived to sustainably feed a population expected to reach nine billion by 2050, the risk was that it could lose sight of the term’s scientific value and its potential relevance to all types of agricultural systems.
It quoted a member of the group, Dr Camilla Toulmin, as saying that that the world needed to boost the harvest of food and fibre from any given area.
“But rather than doing this in conventional unsustainable ways, which mean more pollution, less biodiversity and more climate change, we can choose to intensify farming in a sustainable way with fewer adverse impacts.
“This means scientists and local farmers working together, building on tradition and applying solutions at a local scale.
“Many of these solutions involve better use of soils, water and ecological systems, as well as diverse crop mixes.
“They also need secure land rights, and support from policymakers and the development community to help them to spread.”
The report examined the process and elements of intensification and considered how to ensure sustenability.
It cited some examples of sustainable intensification as microdosing of fertilisers in Niger, Mali and Burkina Faso and using the cap of a soda bottle to measure precise amounts of nutrients for each seed hole.
Other examples are the planting of leguminous tree which sheds its leaves in the wet season and provides a natural nutrient source to crops planted underneath for sunlight to pass through.
It also cited the conservation farming in Zambia and the New Rice for Africa (NERICA), a cross-fertilisation between Asian and African rice species.
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
-
Opinion14 hours ago
Ozoro Festival: Tradition or Tyranny?
-
News1 day agoRSG Reiterates Commitment To Youth Dev
-
Oil & Energy1 day agoTranscorp Energy, Renewvia Partner On Renewable Energy Gap
-
Business1 day agoNSCDC Discloses Illegal Dump Site In Ikwerre Community
-
Rivers1 day agoPolice Launch Community-Centred National Day Celebration In Rivers, Today
-
Business1 day agoYenagoa’s Radisson Hotel Ready December — NCDMB, Other
-
Politics14 hours ago
RIVERS WOMEN RALLY SUPPORT, CONTINUOUS PRAYERS FOR TINUBU
-
Maritime1 day agoMWUN Raises Alarm Over Port Security Lapses In Lagos