6 hours ago
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The Executive Director at Cormat Nigeria Limited , Dr Johannes Flosbach, has called for continued collaboration between Nigerian and international partners to unlock the potential of Nigeria’s agribusiness industry, positioning it to meet both local and international demands.
He made the call while speaking at the 11th German-Nigerian Business Forum (GNBF) in Lagos, organised by AHK Nigeria and Afrika Verein with support from the German Federal Ministry for Economic Affairs and Climate Action.
The forum served as a platform for discussions on strategic sectors including agribusiness, renewable energy, construction, and vocational education.
Flosbach, while speaking during a panel at with the topic “Strengthening the Nigerian Agribusiness Industry for Food Security and Export,” emphasised the need for sustainable funding in agribusiness.
He highlighted agriculture’s pivotal role in Nigeria’s future, while calling attention to the pressing challenges of securing adequate financing for the sector.
According to him, “Agriculture is the future, and agriculture means food processing.
However, we also need to address a key challenge—funding. Working capital at 30 per cent interest or more is unsustainable, making it almost impossible to invest in new projects.
“I believe future forums will need to focus on funding solutions to enable the growth of this critical sector”.
He also highlighted the importance of innovative agricultural practices, pointing out TGI Group’s investments in rural farming and sustainable agriculture.
