Food industry may produce next set of billionaires in the world, Agriculture lecturer predicts
A Nigerian lecturer, Dr. Promise Etim has hinted that the next set of billionaires in the globe may emerge from the food industry, and not the oil and gas Industry.
Dr. Etim, a lecturer in the Department of Agricultural Engineering, Akwa Ibom State University, gave the hint last Thursday in his paper presentation at the International Youth Day celebration in Uyo.
“The COVID-19 pandemic has provided a nexus for us to recalibrate our minds and know that food is significant in today’s world. Akwa Ibom Youths should note, the next set of billionaires in the globe may emerge for the Food Industry, not the Oil and Gas Industry. We should not be left out.
“We should devise means and engage and transform food systems through innovative ideas that will engender sustainability and increased productivity as we gear towards achieving the first two goals of the SDGs (No Poverty and Zero Hunger) by 2030,” he said.
The young Agriculture lecturer, who commended the Akwa Ibom State government for the massive investment in the agricultural sector and the many success stories recorded, however noted that the state still has so much to do.
“These and more are some of the gains the present administration has made towards transforming food systems for the economic empowerment of the people. While appreciating these laudable gestures, it is imperative to note that recent studies have shown there is a slight disconnect between these programs and the intention of the administration to connect the Youths to these endeavors to earn a living. The lack of interest of Akwa Ibom Youths in Agriculture has been the challenge in this direction, a menace we must work together to tackle.
“Recently, the management of St. Gabriel’s Coconut Refinery expressed concerns that for the company to commence production, there will resort to importing millions of metric tonnes of coconut from other countries. Assertions like this should motivate Youths of Akwa Ibom to venture into small-medium-large scale coconut production individually and collectively, knowing there is a ready market.
“With the advent of the Coconut Refinery, how ready are Akwa Ibom Youths to leverage on the business. Indonesia, India, and the Philippines are responsible for more than 70% of coconuts consumed globally. There is increasing pressure to meet the demands of manufacturing coconut oil and virgin oil globally because of their value,” he further said.
Mr. Etim attributed the alarming rate of infant mortality, malnutrition and hunger in underdeveloped countries to the declining rate of food production, climate change, inadequate access to clean water and nutritious food, little or no access to livelihoods or jobs, conflict and civil unrest, inequality, poor education, lack of infrastructure, and limited resources of government.
He noted that the world is critically in need of innovative ideas that will optimize food production to meet the demands of the population and the disturbing trend of the COVID-19 pandemic.
“The quest for greener pastures has forced most Youths to migrate from rural areas to urban centers. The development works negatively against our projection to achieve no poverty and zero hunger by the year 2030. Agricultural activities are now in the hands of the aged, who are without the necessary energy required to optimize production.
“The effort to grow some vegetables (dominant in the Northern States) in Akwa Ibom is a commendable gesture. There is a need to evaluate the production cost of such products locally and compare the same with the cost of buying, transporting them from other states, devoid of storage which is applicable in both cases.
“Such a basis for comparison can motivate Youths to venture into production, knowing there is a prospect and appreciable return on investment (ROI),” he said.
Among other recommendations, Dr. Etim said that the establishment of Bank of Industry and Agriculture in the state would enable easy access of funds for agricultural businesses, saying such action would drive the interest of the youths towards agriculture.
“Establishment of a Bank of Industry and Agriculture in the State to enable the Youths to access funds and enhance production in areas of Agri-business of interest,” he added.
The theme of this year’s celebration is “Transforming Food System: Youth Engagement and Innovation for Sustainability”.
