Afrigather …EU launches agribusiness platform to spice up commerce, funding
The quantity of commerce between European Union and Nigeria stood at €24.6bn in 2023, with oil dominating imports through the interval, Miriam Ferran, the deputy director basic, Directorate of Worldwide Partnerships (INTPA), European Fee, has revealed.
That is 18.7% decrease than 2022’s quantity. Ferran made the revelation in her remarks on the ninth Version of the EU- Nigeria Enterprise Discussion board tagged: “Investing in jobs and sustainable future which started in Abuja Tuesday.
The EU delegation to Nigeria and ECOWAS additionally launched the EU-Nigeria Agribusiness Platform.
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“The EU stays Nigeria’s largest buying and selling associate, first investor, prime donor of humanitarian and growth help, and the most important diplomatic community. EU-Nigeria commerce relations favours Nigeria, with crude oil contributing the a lot of the imports from Nigeria,” the deputy director mentioned.
She added that the digital platform is aimed toward growing personal investments within the nation’s agribusiness sector famous that the platform was set In session with the federal government of Nigeria.
“It was determined to launch an EU-Nigeria Agribusiness Platform as a structured dialogue between Nigerian and EU farming and agri-food communities, agricultural and agro-industrial sectors to advertise commerce and entice accountable funding, and to foster enterprise linkages, notably for SMEs,” Ferran mentioned.
“Sustainable agriculture is a cornerstone for financial growth and sustainable progress in Nigeria. The agricultural sector contributes round 1 / 4 of the gross home product (GDP). Contemplating its significance, successive Nigerian governments have been striving to diversify the economic system from its crude oil dependence by rejuvenating the agricultural sector by way of totally different agricultural insurance policies and programmes as a way to promote and propel the agricultural sector for enhanced productiveness and elevated agri-food commodity base.”
She additional careworn the necessity to enhance on non-oil commerce between Nigeria and the European Union.
Agribusiness Register Restricted, a non-public sector entity conversant with the agribusiness ecosystem, will handle the EU-Nigeria Agribusiness Platform.
The concept of handing over the platform to a non-public sector-led entity working in partnership with private and non-private sector stakeholders got here out throughout a stakeholders’ consultative assembly in April 2023, she mentioned
The Agribusiness Register Restricted will work with, and have interaction with chosen agribusinesses, farmer teams, aggregators and different vital stakeholders. It’ll additionally nurture partnership and collaboration with EU implementing companions within the related house of agriculture, digital and entrepreneurship on one hand, with the related businesses of the federal government of Nigeria.
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Particularly, it would work with the Federal Ministry of Agriculture, Federal Ministry of Business Commerce and Funding, Nigeria Export Promotion Council (NEPC), Requirements Group of Nigeria and the Ministry of Communication and Digital Financial system.
The concept for an agribusiness platform stems from the commitments of the November 2020 EU-Nigeria Ministerial Dialogue
In the meantime the director mentioned that the digital platform is aimed toward growing personal investments within the nation’s agribusiness sector.
“The initiative will contribute to the discount of meals insecurity and poverty in addition to the attainment of sustainable financial growth in Nigeria”.
The EU-Nigeria Agribusiness Platform will contribute to boosting the exploration and exploitation of agribusiness alternatives between Nigeria and the EU by way of the institution and upkeep of a community of energetic members of agribusinesses throughout Nigeria and the EU.
An agribusiness platform is a type of a digital agricultural platform that gives digital advertising and marketing, buying and selling or funding house for industrial and/or transactional actions, interactions, communications, integrations and cooperation within the agri-food system and agro-industry between Nigerian and European SMEs.
The EU-Nigeria Agribusiness Platform’s major focus is to create linkages and interactions between Nigeria and EU agribusiness stakeholders particularly amongst SMEs; promote commerce and funding between each side.
