Business
‘Agriculture, Panacea To Nigeria’s Economic Growth’
Agriculture has been described as one of Nigeria’s most powerful tools in addressing the challenges of creating more employment, better public health and greater economic growth.
The Managing Director of Duromu Farms Limited, Dayo Olu, in an interview with The Tide, stated this shortly after an Agric-business Forum organised in Port Harcourt last Saturday.
According to him, the need to focus on agriculture stems from the fact that the sector accounts for 70 per cent of the people in the rural areas, the growing demand for food and more importantly, about 44 per cent contribution to Nigeria’s Gross Domestic Product.
He stressed that the transformation of agriculture would stimulate small and medium-sized industries that are known to be the engine room of economic growth.
Olu noted that achieving economic transformation would require more investments in agricultural research and development and the development infrastructure. Also, that Nigeria needs to build its defence against biological threats to crops just as it is being done for the military.
He posited that agriculture in Nigeria in recent decades has been constrained by weak institutions and inadequate infrastructure.
“These constraints are well known. Less known are the limited application of technologies, the low skill base in the sector, and its aging population. The young are fleeing rural areas and the production side of the sector.
Similarly, financial institutions view the agricultural sector as risky and so it deserves a very small portion of commercial credit,” he said.
According to him, getting the young people interested in agriculture and developing a supportive financial system to facilitate the access of farmers, traders and processors to credit, could go a long way in addressing several national needs.
He described the agricultural setting in Nigeria as ‘dynamic’, explaining that the problems and challenges facing agriculture could be turned to profits.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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