From Fred Itua, Abuja
In a bid to create an all-in-one agricultural market-hub which encompasses gathering, re-distributing, storing, processing and exporting of agro-products, First Aquagrico Farms is seeking the partnership of the Bank of Agriculture to establish the largest farmer’s market in Nigeria.
The group said the concept is aimed to enhance the promotion of large scale commercial agriculture in Africa through a process that maximizes profit while sustainably satisfying the needs of consumers.
In a correspondence dated October 12th 2022, the Managing Director of the firm, Mr. Kolapo Joshua Talabi through their solicitors, said the market would support agricultural value chain activities and capacity development in order to stimulate agriculture development in Nigeria.
The market, when established would enhance the promotion of large scale commercial agriculture in Africa through a process that maximizes profit while sustainably satisfying the needs of consumers.
The letter read in part: “We have been retained as Corporate Secretary, Solicitor and Corporate Advisor by FIRST AQUAGRICO FARMS NIG. LTD (hereinafter referred to as ‘Our Client’), on whose firm instructions we hereby write you with respect to the above subject-matter.
“Being a proudly Nigerian agro-allied entity, Our Client undertook the study and survey of the agricultural sector in Nigeria and discovered that one of the major causes leading to the decrease in growth of the agricultural sector especially in the 2nd Quarter of 2022 with a growth of 1.20% as against 3.16% of the previous Quarter is owing to poor merchandise of the agricultural produce.
“It is reckoned that the situation will worsen with the harzadous climatic changes and flooding which have major impact on the distribution and marketability of agricultural products.
“In view of Our Client’s extensive experience in the agricultural sector, it is posited that an efficient market system can project a progressive GDP for the Nigerian economy which would shift the economic base of the country from a mono-economy reliant on crude oil to agriculture as its mainstay reflective of pre-1970 Nigeria. It is in this light that Our Client has conceived and set in motion the establishment of Africa’s Largest Farmers’ Market in Nigeria.
“The primary objective of setting in motion Africa’s Largest Farmers’ Market in Nigeria is to create an all-in-one agricultural market-hub which encompasses gathering, re-distributing, storing, processing and exporting of agro-products.
“The concept is to enhance the promotion of large scale commercial agriculture in Africa through a process that maximizes profit while sustainably satisfying the needs of consumers. In addition, the concept will assuredly make a great impact in the country’s agricultural sector by boosting food supply, creating jobs, raising incomes, reducing malnutrition and contributing to the progress of the continent’s agro-economy.
“It is no coincidence that Our Client’s objectives aligns with the mandate of the Bank of Agriculture particularly as it relates to support for all agricultural value chain activities and capacity development in order to stimulate agriculture, improve lives and grow communities.
“These viable goals accordingly puts the Bank of Agriculture in a pivotal position in bringing to fruition Africa’s Largest Farmers’ Market in Nigeria.”
The firm in the letter is requesting for a project-presentation visit to the bank for better and robust deliberation on the concept in the interest of Nigerians farmers.
First Aquagrico Farms is an integrated agro-business company duly registered with the Corporate Affairs Commission as a Limited Liability Company with focus in galvanising agriculture as a veritable tool for national economic development through the creation and synchronization of markets for farmers both locally and internationally, and it has remained a key sector player for large scale agriculture produce merchandise.