As Nosak Group Participates At Edo Food And Agric Fair
With the revelation that Nigeria spends over N20b on food importation yearly, there is need for financial inclusion in the country’s agricultural system, to change its method of farming from producing in small units, to large scale to cater for the growing population.
Edo State governor, Godwin Obaseki, disclosed this at the opening ceremony of the on-going maiden Edo Food and Agric Trade Fair, which started last Monday, with the theme: ‘Inclusive Agric Value Chain Development and Funding: Workable Models and Institutional Bottleneck’, where Nosak Group, makers of Nosak Famili Vegetable Oil and Nosak Famili Pure Palm Oil featured prominently.
The Governor disclosed that local farmers should be well educated on the various stages of the chain and opportunities that abound to improve and grow agricultural practice in the state.
Chief Operating Officer, Nosak Group, Thomas Oloriegbe, in his paper ‘Growing Edo State Economy and Agric Value Chain Using the Bottom-Up Model of Development,’ said in reflecting the Agric value chain, there should be optimum closure of the infrastructural gap such as access roads, electricity, water supply, amongst others.
Oloriegbe added that, “farmers should be educated on the ways they can grow their businesses by embracing the financial opportunities through the various Agric intervention funds provided by the Central Bank of Nigerian (CBN) and the Bank of Industry (BoI), as well as organised Cooperative Societies.”
Using the Nosak Group example, he said through Saturn Farms Limited; a plantation of 1,053 hectares with three tons milling capacity of palm oil and Nosak Farm Produce Limited; a refining/processing plant with 200 tons refining capacity, the Group is improving the value chain by putting to use the bottom-up model to enhance productivity and inclusiveness in agricultural practice.
He added, “Nosak Group has also negotiated with three communities for land lease and crop compensation at mutually agreed terms. They are: Obagie Community–10,000 hectares, Igieduma Community–7,000 hectares and Evbueghae in Orhionmwon local government – 5,000 hectares. This is further evidence that Nosak Group will continue to invest in the Agric sector for the benefit of the Nigerian people.”