Nigeria’s agro-commodity sector to experience a major boost as delegates from Nigeria travel to Brazil in a collaborative effort between the Central Bank of Nigeria, Nigeria’s Apex bank, Welcome2Africa International, a private trade and investment facilitation company, and the Brazil Africa Institute, to gain requisite knowledge and create mutually beneficial relationships with players in the Brazilian agro-commodity sector.
The study tour is in a bid to better understand Brazil’s agro-commodity ecosystem, which has shown tremendous potential over the years, and to seek ways of partnership and trade between both countries. While in Brazil, the team is expected to seek ways to improve Nigeria’s Ago-commodities with selected commodities like sugar, rice, maize, coffee, soybeans, and milk production.
Brazil, the largest economy in Latin America and an agricultural and industrial powerhouse, is also the fourth largest agricultural producing country globally, with a lead in commodities like coffee, sugarcane, and citrus, and the second largest soybean, beef, and poultry producers.
Bamidele Seun Owoola – CEO of Welcome2Africa International
Speaking on the initiative, the CEO of Welcome2Africa International, Bamidele Seun Owoola, commended the effort of the Central Bank of Nigeria for the support towards improving the sector, stating that the study is just what is needed to grow the sector and that Nigeria can also improve on its cassava and yam production for export, being the largest producer globally. She also stressed the need to engage with more foreign agro-commodities players from Europe.
The team has since visited major cities, financial institutions, factories and farms across Brazil, including Standard Bank, Aurora Pig and poultry processing factory, Cocamar and a host of others. The team is expected back in Nigeria in the first week of August 2022.
By Agharite Efe