The funding is expected to scale up the company’s franchise model, boost food security, and help farmers withstand growing climate pressures.

Agriculture is the backbone of Nigeria’s economy, accounting for about 25% of GDP and employing more than 70% of the workforce. However, smallholder farmers, responsible for producing around 70% of the nation’s food, still live below the poverty line, many earning less than $2 daily. 

In northern Nigeria, these challenges are even more severe due to poor soil quality, erratic rainfall, and limited access to modern farming practices.

Babban Gona’s model offers end-to-end support including credit, training, harvest and storage services, as well as market access. In enabling top-performing farmers to run micro-enterprises that distribute inputs and financing to peers, the company has doubled net incomes for many participants compared to the national average. With BII’s backing, Babban Gona aims to reach about 140,000 farmers by 2029.

“Our partnership with Babban Gona is a great example of how BII is using catalytic capital to support innovative, high-impact business models that transform lives and economies,” said Benson Adenuga, BII’s West Africa regional director and head of office for Nigeria. 

“By backing this pioneering franchise model, we are not only addressing a critical financing gap but also helping to build a more resilient and productive agricultural sector and support smallholder farmers in a region that is often overlooked by investors.”

Climate resilience stands at the core of Babban Gona’s approach. The company provides drought-tolerant seeds, climate-smart inputs, and insurance products that shield farmers from extreme weather shocks, essential in a country where floods in 2022 and 2024 destroyed crops and displaced thousands.

Since 2018, Babban Gona has deployed AI tools trained on over two million images to help farmers identify crop diseases with just a smartphone photo. Its offline-enabled mobile apps ensure that even those in remote, low-connectivity areas can benefit. 

The same AI technology is used to support antenatal care for rural women and English literacy programmes for children, expanding its impact beyond agriculture.

Kola Masha, Babban Gona’s managing director, noted how early adoption of AI shaped the company’s global standing. “Our early work in AI enabled us to build very strong relationships in the space,” he said. “We were one of 12 organisations around the world brought into a small monastery in Lake Como with the likes of Nvidia, OpenAI, and Google to think about the role of AI for global development.”

Beyond farming, Babban Gona is experimenting with sustainable transport solutions in rural areas, including two-wheeler e-bikes and charging stations, an initiative Masha describes as building “the equivalent of a Tesla for northern Nigeria.”

BII’s latest investment is a medium to back African agribusiness, following recent commitments to companies like AgDevCo and Johnvents. 

For northern Nigeria’s farmers, however, the impact could be more immediate, with access to finance, tools to survive climate shocks, and a chance to earn a dignified income.

The post Babban Gona Raises $7.5m to Strengthen Smallholder Farming in Northern Nigeria appeared first on Tech | Business | Economy.

The workshop aimed to strengthen Nigeria’s agricultural sector through public-private partnerships, bringing together key stakeholders from government agencies, international organizations, financial institutions, and the private sector to develop practical solutions for enhancing food security and driving sustainable agricultural growth.

The Urgency of Food Security

In his welcome address, Mr. Boye Olusanya, vice chairman of NESG, represented by Mr. Uche Ogbonna, Executive Director of the Ernest Shonekan Centre for Legislative Reforms and Economic Development at NESG, underscored the paradox of Nigeria’s agricultural landscape.

“Agriculture has long been the backbone of Nigeria’s economy, contributing 24% to our GDP and sustaining the livelihoods of over 70% of our rural population. Yet, paradoxically, we are grappling with one of the most pressing challenges of our time—food insecurity. In a nation blessed with over 84 million hectares of arable land, diverse agroecological zones, and a vibrant workforce, no Nigerian should go to bed hungry. And yet, hunger and malnutrition persist,” he stated.

Mr. Ogbonna stressed that data from the Agriculture and Food Security Survey, led by NBS, has provided critical insights into the scale of this challenge.

However, he emphasized that these findings must transcend research papers and conference discussions—they must translate into tangible policies and investments.

“The cost of inaction is too high. Every delay in fixing our food systems increases the number of children facing malnutrition, the number of farmers trapped in poverty, and the vulnerability of our economy to global food crises. Nigeria cannot afford to be a net importer of food when we have the resources to feed ourselves—and even the world,” he concluded.

Government and International Support

In his opening remarks, Mr. Ibrahim, executive secretary of the Nigerian Agriculture Development Fund, reiterated the necessity of strong partnerships between the government and private sector to build a resilient and productive food system.

He reaffirmed the commitment of the Minister of Agriculture, Senator Abuba Karakari, to fostering an enabling environment for private sector investments through policy reforms and financial incentives.

Representing Vice President Senator Kashim Shettima, Dr. Ali Modibo reaffirmed the administration’s commitment to ensuring food security and agricultural transformation.

He highlighted the pivotal role of the PFSCU in mobilizing investments and coordinating government initiatives.

Notably, he announced a $4.3 billion Memorandum of Understanding (MOU) with Brazil aimed at boosting fertilizer production, hybrid seed development, and agricultural credit lines, significantly strengthening Nigeria’s food production capacity.

A key highlight of the workshop was the participation of the World Food Program (WFP), represented by Mr. Stevenson, who outlined WFP’s $200 million annual investment in Nigeria’s agricultural sector.

He stressed the potential of irrigation, particularly in the Lake Chad Basin, and the importance of fostering private sector collaborations to enhance food production and market access.

Data-Driven Solutions for Growth

Adding a statistical perspective, Mr. Ayodele Babalora, representing the Statistician General, provided key insights into agriculture’s economic contribution.

He noted that agriculture accounted for 24.64% of Nigeria’s real GDP in 2024 and remains the country’s largest employer of labor.

However, he also highlighted persistent challenges such as climate change, pest infestations, and limited access to modern agricultural technologies, calling for increased investments in sustainable data production and agricultural statistics to drive evidence-based policy decisions.

Key Focus Areas and Actionable Insights

Discussions at the workshop centered on four priority areas:

• Boosting production and productivity through improved seed quality, livestock genetics, and advanced fishery practices.
• Expanding agro-industrial growth and job creation by promoting local processing of agricultural commodities.
• Enhancing financial accessibility through increased agricultural loans and investment mobilization.
• Strengthening agricultural data systems to guide policy and investment decisions.

Stakeholders also identified urgent areas for intervention, including better coordination in plant disease management, increased awareness and adoption of improved seed varieties, strengthening Nigeria’s organic agriculture market, and addressing funding gaps for medium-scale agricultural enterprises.

NESG’s Commitment to Transforming Agriculture

The NESG remains dedicated to fostering strong partnerships and advocating for policies that support a thriving agricultural sector.

By working collaboratively with key stakeholders, the NESG aims to drive Nigeria’s agricultural transformation—ensuring food security, economic growth, and sustainable development for future generations.

The post NESG, PFSCU and NBS Move to Improve Food Security in Nigeria appeared first on Tech | Business | Economy.

This witty remark serves as a compelling entry point into a much deeper discussion about the intersection of technology and essential human needs.

In a world where digital innovations have transformed industries and aspects of daily life at an unprecedented pace, fundamental issues like food security, economic development, and sociological progress still pose significant challenges.

This dichotomy raises crucial questions: How can we harness the power of technology to address these enduring concerns?

What are the necessary steps to ensure that technological advancements benefit all strata of society, especially in developing nations?

By examining the impacts of technology on food security, economic growth, and sociological transformation, we can explore potential pathways to creating a more equitable and prosperous future for everyone.

The quote,

“I won’t be impressed with technology until I can download ‘FOOD’,” attributed to an African comedian, humorously captures a common sentiment about the rapid advancement of technology and its perceived limitations in addressing fundamental human needs.

There are several dimensions to unpack in this statement.

1. Technological Advancements:

Over the past few decades, technology has made monumental strides in many areas, from artificial intelligence and robotics to biotechnology and communication.

Yet the quote suggests that no matter how sophisticated our technology becomes, there’s still a gap between digital capabilities and tangible necessities like food.

2. Material Versus Information:

The essence of downloading is transferring data. Food, however, is a physical entity that requires ingredients, cooking, and sometimes preservation.

The humour lies in contrasting these tangible needs with our digital habits, underscoring a fundamental difference between virtual innovations and real-world necessities.

3. Food Technology:

While we cannot download food in the literal sense, there have been substantial technological advances in food production and delivery.

For instance, 3D printing technology is being explored for creating food items, potentially transforming ingredients into pre-defined shapes and possibly tailored nutritional configurations.

Furthermore, online grocery services and meal delivery kits have streamlined the process of acquiring meals, representing a middle ground between digital convenience and physical food.

4. Broader Implications:

The quote also hints at the broader socio-economic issues surrounding technology and its distribution. In many parts of the world, despite advanced technologies, basic needs like food security are still not adequately met.

This raises questions about the equitable deployment of technological resources and the prioritization of innovations in solving critical global challenges.

5. Philosophical Perspective:

On a deeper level, the remark invites reflection on what we consider impressive or valuable in technology.

Are we more awed by flashy gadgets and applications, or should we be focusing on innovations that directly improve quality of life, such as sustainable agriculture, accessible healthcare, and clean energy?

In summary, the comedian’s witty remark serves as both a humorous observation and a subtle critique.

It invites us to consider the balance between marvelling at technological advancements and striving for innovations that address essential human needs.

While we may not be able to download a meal directly from the internet, the pursuit of integrating technology with food production and distribution can certainly help move us closer to a future where technology more comprehensively supports basic human requirements.

Nonetheless, the witty remark might seem lighthearted, but it underscores a significant issue: the gap between our rapidly advancing digital capabilities and the enduring, fundamental human needs that technology has yet to fully address.

It prompts a deeper discussion about how innovation can truly transform essential aspects of our lives, such as food security, economic development, and sociological progress, especially in developing nations.

Food Security

The advancement of technology has the potential to revolutionize food security—an area that remains a pressing concern for many nations.

While innovations like artificial intelligence and blockchain are changing many industries, their application in agriculture could be even more transformative. AI can optimize irrigation and nutrient application, significantly boosting crop yields.

Blockchain technology can streamline supply chains, ensuring transparency and reducing food waste. Furthermore, gene editing technologies like CRISPR can develop crops that are more resilient to climate change and pests.

Despite these possibilities, these technologies must be democratized to be effective. Developing countries face challenges such as limited internet access, inadequate infrastructure, and a lack of technical expertise.

Therefore, a multi-faceted approach is necessary: governments and international organizations need to invest in infrastructure, while tech companies should focus on creating user-friendly, affordable solutions tailored to local needs.

Economic Development

The impact of technology on economic development can be profound, as it offers new avenues for job creation, entrepreneurship, and economic stability.

Digital marketplaces and mobile technologies have already begun to empower small farmers and local producers by providing platforms to reach broader markets.

This reduces dependency on middlemen, ensuring that more profit goes directly to the producers. Microfinancing platforms can also leverage technology to offer better financial services to communities that traditional banks overlook.

However, economic development driven by technology requires human capital. Education and skill development are critical.

Here, policies need to focus on digital literacy and vocational training to equip individuals with the skills needed to participate in and benefit from the digital economy.

Encouragingly, numerous initiatives across Africa, such as coding boot camps and digital literacy programs, are beginning to bridge this gap.

Sociological Development

The sociological implications of technology are complex. On the one hand, digital platforms can promote social cohesion and cultural exchange, while telemedicine and e-learning can make healthcare and education more accessible.

On the other hand, there are risks like exacerbating inequalities and digital exclusion. For instance, access to technology often aligns with existing socio-economic divides, where the wealthy get more advanced tools and opportunities while the poor remain marginalized.

To address these sociological disparities, inclusive policies and community-focused programs are essential.

Governments and NGOs can collaborate to ensure that technological benefits reach the most vulnerable populations.

Efforts to improve digital infrastructure in rural areas, combined with training programs aimed at women and marginalized communities, can help make the digital revolution more inclusive.

Conclusively, the comedian’s quip about downloading food not only tickles our sense of humour but also serves as a poignant reminder of the challenges we face in bridging the gap between technological capability and basic human necessities.

While technology holds immense potential to address issues of food security, drive economic growth, and foster sociological development, its benefits must be carefully orchestrated and inclusively deployed.

Addressing these complex issues requires more than just technological innovations; it entails a concerted effort involving infrastructure investment, education, and inclusive policy-making.

As we move forward, the true measure of technological progress will not merely be in the sophistication of our gadgets but in our ability to make those advancements work for the betterment of all.

By embracing a holistic and inclusive approach, we can leverage technology to create a world where no one is left behind, turning humorous aspirations into tangible realities.

The post Bridging the Digital Divide: Harnessing Technology for Food Security and Societal Progress appeared first on Tech | Business | Economy.

Some key findings:

• Nigerian farmers are rapidly adopting improved inputs such as high-yielding seeds and fertilizers compared to last season. 
• The report highlights food insecurity and food inflation as a major challenge for Nigeria, with a 5.7 million metric ton shortage across human consumption and agro-processing and a historic high food inflation rate of 30.64%. 
• The report forecasts an increase in prices for all commodities on the basis of a general due to increasing demand across processing and exports. 
• Demand for Paddy Rice has increased due to the ban on Indian rice.  But this has also increased its price by 34% and a baseline pricing of NGN353,000/mt, which is expected to rise to NGN400,000/mt.

The crop production report, which delivers insights on six key commodities (Maize, Paddy rice, Soybean, Sorghum, Cocoa, and Sesame) leverages farmer surveys and measurement of transaction-level data to track vital information across crop production, price performance, and market dynamics.

BII Commits $26.5m to AFEX to Address Food Security in Nigeria, Kenya and Uganda

The report will aid the understanding of the current food system while providing stakeholders in the commodities market with intel to make data-driven trading decisions in the coming season.

The report highlights a critical improvement in access to farmland for cultivation in crucial areas, we also witnessed an increase in the usage of improved inputs, such as high-yielding seeds and fertilizers, compared to last season, which contributed to Maize and Paddy rice being forecasted to have a significantly higher production this season.

However, input lending remains a major challenge today, with agriculture making up only 6.16% of bank lending in 2022.

On pricing, the report forecasts an increase in prices for all commodities on the basis of a general decline in production coupled with increasing demand across processing and exports.

Paddy Rice which faced the most notable upswing in 2022/2023, partly due to increased flooding and the India rice ban that contributed to an increase of 34% and a baseline pricing of NGN353,000/mt, which is expected to rise to NGN400,000/mt and projected to stabilize at NGN480,000 to NGN500,000/mt by Q3 2023.

The report highlights food insecurity and food inflation as a major challenge for Nigeria, with a 5.7 million metric ton shortage across human consumption and agro-processing, and a historic high food inflation rate of 30.64%. Currently, Nigeria’s Global Hunger Index score remains alarmingly high, ranking 109th out of 125 countries, indicating a severe food security crisis.

The report notes that as food prices continue to surge, as witnessed in the 2023 season, food security challenges will continue to persist, further reducing the continent’s capacity to achieve Zero hunger by 2030.

Speaking at the launch event, President/CEO of AFEX Nigeria, Akinyinka Akintunde, stated;

“This year, we nearly doubled our sample size from 20,677 to 39,091 to get an accurate reflection of the current state of Agriculture production, and we found that we must take extra care to prioritize improvement in agricultural productivity for these farmers, and this is hinged on investing in the sector, and solving for infrastructure, logistics, and technology gaps. This transformation will substantially enhance food self-sufficiency and increase our ability to meet the nutritional and food security needs of a growing population while also bolstering the economy through foreign exchange earnings.”

A recurring limitation for agriculture on the continent is a shortage of reliable data, which affects the availability of transparent pricing and limits, on the one hand, participation from the side of capital market operators and largely financial market players and on the other hand, farmers’ ability to negotiate equitable contracts for themselves. T

his report attempts to build that gap by building a reliable data bank to promote market education and facilitate accurate trading decisions.

The report is now available for download on afex.africa

The post AFEX Forecasts Higher Prices for Commodities in the 2023/2024 Season appeared first on Tech | Business | Economy.

The resolution was one of the outcomes of the rigorous boardroom deliberations involving 41 countries and 34 Heads of State and Government held as part of the second edition of the Feed Africa Summit, which took place from January 25 to 27 at the Abdou Diouf Centre for International Conference in Dakar, Senegal.

Dr. Akinwumi Adesina stated at the event that the development partners who were actively involved in the boardroom sessions “agreed to support these compacts with a sharp focus on results” and collectively committed $30 billion towards implementing the game-changing initiatives drawn from sub-regional clusters on the continent.

He further stated that if the leaders do not retrace their steps, democracy would be entrenched in corruption, noting that the implication would be costly. The president stated that the compacts developed for funding totaled 40 in number and that initiatives aimed at ensuring food security across the continent would be prioritized.

He said: “Democracy is possible in Nigeria, and we have the capacity to build a culture of democratization.” The $30 billion commitment excludes other efforts targeted at attracting other private sector funding to the agriculture ecosystem. However, some youths staged a protest shortly after Buhari commissioned the underpass and left to commission another.

The post AfDB, Partners Commit $30b to Food Security in Nigeria, other African Countries appeared first on Tech | Business | Economy.