Crop production receives boost as Labo Group launches farm subsidiary

Nigeria’s crop production has received a boost as Labo Agric Farms, a subsidiary of Labo Group has debuted into the subsector.

Labo Farm is owned by Olabisi Akanbi – a leading entrepreneur, with investments in real estate, automobiles, and entertainment.

The farm which sprawled over several hectares of land in Ajebo, Ogun State began operations in the second quarter of 2021 is into animal husbandry and crop production.

Worried by the inequality between Nigeria’s rising population and food supply, drivers of Labo Farms are seeking to address poverty, hunger, and unemployment in the land.

According to Akanbi, Labo Group is seeking to become a rallying point and key driver for youth engagement in agriculture.

“Labo Group has a track record of success in every sector we operate and that is the driving force that we bring into agriculture,” Akanbi said in a statement.

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“As a team, we want to make a big difference with our modest effort and contribute our quota to the economy.”
Economists have identified the critical need to make Nigeria not only a self-sufficient nation but a top agro commodity-exporting economy, he added.

“Labo Farms wants to be part of the commodity-exporting growth and we are excited to partner with stakeholders to make agriculture a critical driver of the Nigerian economy one crop at a time,” he said.

According to Akanbi, agriculture can reclaim its pre-independence position as the biggest contributor to Nigeria’s Gross Domestic Product (GDP).

He said the country is blessed with arable land which forms a key area of comparative advantage for the growth of its economy.

“As a youth ambassador, I’m committed to helping to use my influence to help drive the attention of Nigerian youths toward agriculture through small-holder farming. Needless to say that Nigerian youths form the largest number of Nigerian productive forces.”

Similarly, Labo Farms is seeking to drive youth empowerment through agriculture engagement by collaborating with traditional rulers of the Ajebo community in Ogun State.

“During our visit to the palace of the traditional ruler of the community, we expressed a strong desire to ensure that youths of the community are empowered. We have set in motion activities to help ensure that this goal is realized within a short time,” Labo assured.