While Nigeria’s population is disproportionately growing and has become a constant source of concern for policy makers, digital agriculture may be the most viable way to survive, says Segun Oworu, Digital Farming Lead, Bayer Middle Africa.
Data from the National Population Commission (NPC) shows that Nigeria has an annual population growth rate rate of 3.2 percent as of 2016. The GDP growth has neither matched nor exceeded population growth in the past five years. The implication is that Nigeria’s economy is not growing fast enough to cater for its citizens.
As part of efforts in grappling with this reality, the federal government in recent times has been making frantic efforts to deepen productivity in the agriculture sector, leveraging new technology. The push has also spurred the emergence of start-ups using technological innovation to bring solutions in the sector.
“In the race of digital agriculture, we cannot compete with developed economies because our agricultural needs are different. What we should do is to leverage on areas where we have comparative advantage such as our rich tank of information.” Oworu said during a panel session on the third of the Social Media Week Lagos.
Digital agriculture refers to the use of new and advanced technologies, integrated into one system, to enable farmers and other stakeholders within the agriculture value-chain to improve food production.
The technologies used for digital agriculture includes sensors, communication networks, Unmanned Aviation Systems (UAS), Artificial Intelligence (AI), robotics and other advanced machinery and often draws on the principles of the Internet of Things.
While startups are championing the digital agriculture revolution, financial institutions which are exposed to it through the loans they give to the entrepreneurs and farmers are also paying attention.
Wole Oshin, head, Agribusiness, Stanbic IBTC, while at the panel session the bank hosted at the Social Media Week, said it has partnered with its parent organisation, Standard Bank Group, to come up with satellite monitoring technology where farmers can monitor their farmlands.
“In addition, we have tools and digital platforms to support farmers. We also have various funds we can use to support farmers at a single digit interest rate.” Oshin said.
Apart from significantly improving productivity of farm produce making them more consistent, digital agriculture can also make use of time and resources more efficiently. This brings critical advantages for farmers and wider social benefits around the world. It also enables organisations to share information across traditional industry boundaries to open up new, disruptive opportunities.
