In April 1980, the Shehu Shagari administration introduced the Green Revolution Programme to ensure self-sufficiency in food production and to introduce modern technology into the Nigerian agricultural sector largely through the introduction of modern inputs such as high yielding varieties of seeds, fertilizers and tractors. The programme encompassed a wide range of projects supportive to the nation’s agricultural development; this included 11 river basin development authorities, the Ministry of Water Resources, National Food Production Programme, and the Agro Service centers.
The programme clearly established three functional duties;
• Introduce modern inputs for increased agricultural productivity
• Provide loans to small and large scale farmers through the Agricultural Credit Guarantee Scheme, commercial banks and the Nigeria Agricultural Cooperative Bank
• Supply of financial incentives to commercial farmers with intent to fund large scale production. (incentives included: income tax relief and free import duties on farm machinery)
Also, a Green Revolution committee was convened at the Federal level to be followed by those in charge of the 19 states. The programme had five major objectives;
1. To ensure adequate, reliable and safe supplies for a rapidly growing population
2. To become self-reliant and achieve food security
3. To raise and stabilize the nutritional standards of Nigerians
4. To ensure stability in food commodity markers
5. To ensure reasonable levels and distribution of income among food producers
As laudable as the objectives were, the programme was however met with political resistance from states governed by leaders opposed to the Shagari led administration. The provisions to motivate large-scale farmers to make massive investments were criticized as creating growth opportunities for wealthy investors, providing little opportunity for smallholder farmers.
Here at Farmsby, we are of the belief that for the nation to fully maximize its agricultural capabilities, there needs to be massive improvements of the supportive structures and inputs in agriculture such as credit provision, extension aids, and storage. Same structures which the Shagari programme tried to compliment. However, learning from the failures of the 1980 programme and juxtaposing same with the issues that hindered its progress, Farmsby Limited is adopting a completely different strategy in the actualization of the objectives of The Green Revolution.
Our mission is to create a scale up effect by crowd-funding smallholders into medium to large farms with the necessary infrastructure to consistently bring high quality produce for up-takers and remit high dividends to our investors, thereby alleviating poverty and distributing wealth.
We are an AgroFinTech company, the first of its kind. We operate a business model that marries three formerly independent sectors (Agriculture, Finance and Technology) into one economically lucrative enterprise. We believe that increased levels of public participation are of the highest importance for the sector to truly maximize its potential. For agriculture in Nigeria to thrive, the majority of the populace needs to have vested interest in its survivability.
As such, we are inviting everyone to our platform where they can become stakeholders by pooling funds together and making substantial investments. Our investment packages are tailored to focus more on creating wealth for our investors first before generating profit for the company. This is because we are more committed to the sustainability of the sector and in creating an Africa that feeds the world.
Our reach is robust, with a wide network of farms all over the country. Our Out Growers Programme where we train local farmers on solid modern agronomic practices recently acquired a partnership with the Institute of Export Operations & Management (IEOM) aimed at facilitating export ventures.
Our Standard Joint Venture service enables us to assist individuals in the setting up and management of their own farms with the promise of reasonably high and guaranteed returns. Our ultimate goal, just like our name implies, is to have Farms by everyone.
We are committed to the development of a sustainable agricultural sector. The economic revolution is here and it is green. Are you ready?
#Nigeria@59 #TheGreenRevolution #FarmsbyEveryone www.farmsby.com