It is no longer news that the Nigerian economy is currently experiencing a downward trend. The fall in the price of crude oil – a major source of revenue for the country – has serious implications for the country’s economy.

As part of its response to the challenging economic situation in the country, the Federal Government has said that the country’s hope now lies on agriculture.

Permanent Secretary, Federal Ministry of Agriculture and Rural Development (FMARD), Arch. Sonny Echono made the remark yesterday at the 1st Daily Trust Agric Conference and Exhibition organized in partnership with the ministry in Abuja.

Echono, who was represented by the Director, Federal Department of Rural Development, Alhaji Olumuyiwa Azeez, noted that the conference was timely and its theme: “Beyond Crude Oil: How Agribusiness Can Sustain Nigeria’s Economy” was apt considering the current economic situation occasioned by the dwindling revenue from crude oil and gas sector.

“Beyond crude oil, Nigeria’s hope lies on agric. Nobody drinks oil, nobody smokes gas, but everybody eats food. Oil cannot be there forever,” he said.

He stated that the nation’s economy must be focused on diversification to agriculture, noting that in the face of population increase, food production must also be increased to keep pace.

The Permanent Secretary further stated that any nation without food security cannot stand, therefore, growing, processing and marketing of food was crucial to Nigeria’s national development.

Echono said the private sector was taking the lead in agricultural value chain and the government has put several programmes and policies in place to end the era of doing agriculture as a development rather than as a business.

Also speaking at the event, the Emir of Gummi and Chairman, Coordinating Committee, Northern Traditional Rulers Council, Justice Lawal Hassan, highlighted the importance of agriculture to the nation and the Northern traditional rulers.

“What we need in agriculture now is leadership not ideas. We already have ideas,” he stated, urging all stakeholders to come up with what should be done to make agriculture take over from other sectors.