Unlocking agricultural potential: IFC and IITA’s response to industrial agricultural transformation

2 May 2024

Nigeria has faced a distressing trend in cassava and soybean production within the subsistence farming system for many years. Despite the availability of improved cassava varieties, farmers persist in cultivating traditional varieties, which have high cyanide, and potential toxicity which are often responsible for the bitter taste of some cultivars, thereby inhibiting the industrial use of cassava.

Consequently, there is an urgent need to advocate for farmers to transition to modern agricultural practices to ensure sustainable utilization of cassava at industrial level. To address these challenges, the International Finance Corporation (IFC) discussed these challenges with IITA -CGIAR experts during a visit to the Institute's headquarters in Ibadan.

Discussions during the visit focused on accelerating the industrial adoption of cassava and soybean, opening avenues for exportation, and fostering economic advancement through crop utilization. They also discussed strategies to broaden and reform the private sector within the targeted crop value chain to attract investors, leveraging IITA's technical capacities to improve farmers' yields.

IFC is an arm of the World Bank that focuses solely on developing and unlocking the potential of the private sector in developing countries. It leverages the private sector to create investments, markets, and opportunities where these are most needed.

IITA-BASICS Project Manager, Lateef Sanni, enthusiastically received the team and shared experience on various projects he has been involved in. He suggested the need for the high production of food-grade starch, ethanol, and cassava chips, stressing the significant industrial and livestock purposes.

Sanni added that for the targeted crops to be demand-driven , "there is a need to bridge the gap in the supply of these crops and strengthen market systems." He said fortified cassava business would attract industries and improve the traditional food system, leveraging market-driven initiatives - African Development Bank-Special Agro-Industrial Processing Zones (AfDB-SAPZ) and African Continental Free Trade Area (AfCFTA).

Soybean Compact Lead for the Technologies for African Agricultural Transformation (TAAT) Program, Kolawole Ojo, mentioned that using standard operating procedures (SOPs) designed by the National Agricultural Seeds Council (NASC), coupled with increased extension activities, would effectively highlight advancements in technologies to improve crop yield.

Concluding the meeting, IFC Senior Economist Louis Dennis stated that the findings outlined in the proposal report would provide insights for the IFC and World Bank. The findings would enable these organizations to refine their interventions, particularly those targeted at enhancing the efficiency and sustainability of cassava and soybean value chains. The information disseminated is expected to serve as a catalyst to attract potential partners and donors to invest in the targeted industries.

Contributed by Anita Akinyomade

Public link

Please use the above public link if you want to share this noodl on another website.