Business

‘Investors, banks, others need to collaborate on agric mechanisation’

By Juliana Agbo,The Nation

Copyright thenationonlineng

‘Investors, banks, others need to collaborate on agric mechanisation’

Chief Executive Officer, Trac Trac, Mr. Godwin Ohuruogu, has urged stakeholders across the public and private sectors to collaborate in scaling up agricultural mechanisation in Nigeria, stressing that government efforts alone are not sufficient to close the existing gap.

He pointed out urgent need for investors, banks, private organisations, and non-governmental organisations (NGOs) to play an active role in transforming the mechanisation landscape.

“Currently, Nigeria has about six tractors for every 10,000 hectares of farmland. Our goal within the next three to four years is to raise this figure to 20 tractors per hectare, ensuring that every farmer can easily access mechanised services,” he said.

According to him, the country requires at least 250,000 additional tractors in the next three to five years to significantly boost productivity.

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“Whether it costs N50 million or N55 million per tractor, the critical thing is getting the right investment. That’s the level of intervention Nigeria’s agricultural sector needs,” he added.

Ohuruogu noted that a major barrier to progress is the lack of adequate information for investors to make confident decisions in the sector. He explained that Trac Trac is working to close this gap by making investment-related data widely available.

He also called on the government to create a more enabling environment for agribusiness investment, while urging farmers to patronize tractor service providers to sustain demand and interest in the sector.

Outlining Trac Trac’s five-year strategy, Ohuruogu revealed plans to attract significant investments into the mechanization space, support the federal government’s ongoing policy conversations, and train at least 500,000 young mechanization service providers.

“Our mission is to make investment in mechanization easier, to equip young people with the right skills to become service providers, and to work with all stakeholders to improve Nigeria’s mechanization situation,” he said.