Ikechukwu Kelikume, doctor of Agribusiness at Lagos Business School has said that the biggest problem we face today in Nigeria’s agriculture is that it is a science-based business.
Kelikume, who stated this in his keynote address at the on-going BusinessDay AgreX Summit, said that there must be a proper understanding of the science behind crop production. “We need a road map in the Agricultural sector that ensures every state focuses on crops they only have a comparative advantage in its production.”
“Agribusiness is scientific because you can’t just jump into what you don’t know,” Kelikume said.
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He said Nigeria does not manufactured goods but highly rely on imports for most of its needs. “The clothes we are using are imported; Nigeria today is a net importer of food which is a problem because how can Nigeria be a net exporter of food?”
Kelikume said a country like Nigeria which is relatively import dependent will be susceptible to excessive currency fluctuations.
“There is a positive correlation between external trade and a country’s external reserve position hence the value of Nigeria’s exports in visible and invisible trade determines the strength of the country’s currency,” he said.
