African leaders adopt declaration on agro-business, industries initiative

12 March 2010, Afrique en ligne
URL: http://www.afriquejet.com/news/africa-news/african-leaders-adopt-declaration-on-agro-business,-industries-initiative-2010031145655.html

Abuja:  Nigeria's Acting President, Dr. Goodluck Jonathan, said here Wednesday that African countries could surmount the challenges of the global economic recession by exploiting the rich potentials of their agricultural sectors.

Jonathan made the assertion at a one-day Summit of Heads of State and Government of the High Level Conference on Development of Agribusinesses and industries in Africa which opened in the Nigerian Federal capital.

According to Jonathan, 'a robust Agribusiness and Agro-industry hold the key to economic transformation and sustainable development in Africa. Our resources are primarily ours for survival, and we must utilize them efficiently and effectively for the present and the future.'

The Acting President noted that the crash in prices of Africa's major export commodities, including crude oil, gold and cocoa, as well as the slump in earnings and profits of companies were visible effects of the recession, which he said, could be countered through economic diversification to accommodate more robust agricultural programmes and initiatives.

He emphasised the Nigerian Government's commitment to food security and employment generation through various medium-term (2010-2013) development funding plans, which include the 242 billion naira set aside by the Federal Government to boost Nigeria's agriculture value-chain.

'The Nigerian is committed to socio-economic transformation so as to place our country among the 20 largest economies in the world by 2020,' Jonathan stated, adding that a special focus on agriculture was required to fast-track this aspiration.

The summit, attended by representatives from about 40 African countries, produced and adopted the Abuja Declaration on development of Agribusiness and agro-industries in Africa.

The declaration endorsed the African Agribusiness and Agro-Industries Developmen  Initiative (3ADI), urging African nations to establish the requisite legal, regulatory and institutional framework to support agribusiness and agro-industry development; take measures to foster improved financing of agriculture value-chain by banks and donor agencies, among other resolutions.

Also speaking at the summit, President Ernest Koroma of Sierra Leone, called for a regional approach to tackling common agricultural challenges, in addition to committed country efforts aimed at poverty reduction and employment generation especially for women and youths.

Tanzanian Prime Minister, Mizengo Pinda, who represented President Jakaya Kikwete, also called for periodic re-appraisals of respective country efforts on implementation of resolutions reached at the conference.

Keynote speakers at the conference included the Chairman of the African Union Commission, the President of the African Development Bank (AfDB), the President of the International Fund for Agricultural Development (IFAD), Director General, Food and Agriculture Organisation of the United Nations (FAO), Director General of the United Nations Industrial Development (UNIDO) and the Executive Secretary of the United Nations Economic Commission for Africa (UNECA).

They were unanimous in advocating for an agriculture revolution and increased capitalization of Agro-businesses in Africa.