***Says FG has made the country a laughing stock
***Launches Blockchain, Agbatoken to Revolutionalise Agriculture
A leading rural agriculture group, the Nigerian Farmers Group and Cooperative Society (NFGCS) has blamed the Federal government for making Nigeria a laughing stock in the comity of nations by going cap in hand to war ravaged Ukraine for food assistance.
Ukraine had donated 25,000 tonnes of wheat as emergency food assistance to 1.3 million vulnerable, crisis-affected people in northeast Nigeria.
The Managing Director/CEO NFGCS Ltd, Mr. Retson Tedheke said Nigeria is facing the embarrassment because its government failed to invest in Agriculture.
He spoke on Thursday at the launch of a new blockchain, Agbatoken, to revolutionalise agriculture in Nigeria at NFGCS Farm Estate, in Keffi, Nasarawa State.
“How is it that as a nation of 200million people Ukraine is now dashing us food? it is like a thousand needles piecing through our body, however it is because as a country we have not done enough with regards to our investments in agriculture.
“There is nothing that can be planted in Ukraine that cannot be planted here in Nigeria.
“I will use our estate as an example of how you can solve insecurity. This is pure village setting, traditional ruler of the village is sitting here. We have been here since 2017, no single Herders/farmers clash, no security challenge, no single kidnaping. This is because we did not focus on the sentiments, we focused on our reality.
“I am an ex militant from Niger Delta, we are here in the bush building what is going to be a revolution in agriculture in this country and across the globe because we refused to focus on the sentiment but look at the benefit of the process.
“Cowboy and Fulani herdsmen are the same person’s, why is it that the American Cowboy industry is a $500b industry and Nigeria Fulani industry is Fulanization, hausanization and islamization.
“We are focusing on the wrong issues and ignoring the right solutions. FCMB funded this farm to the tune of N200m and we are struggling to pay back
“Why would they want to fund another project when government pushed the burden of funding to the banks. Whereas in America government gives you money and say you must give it to the farmers with low or no interest.
“The reality is that government is not doing what they should do and so when it push the money to the commercial banks the banks are profit oriented, their own is to get money, government own is to support food security as well as security, government needs to do more.
“If it is not doing more you will have insecurity. Do you want farmers/Herders clash, banditry, kidnappers or you want food security?
“If America is subsidizing their farmers with $100b every year, if Egypt is doing equivalent of N4.5tr every year, Thailand is doing N3.5tr in subsidy why are you asking the banks to go and fund agriculture when government is the only one that have the capacity to lend limitlessly?
“To solve insecurity government must do its job, it is not enough to say Agbado, Agbado and later go back and say you cannot do development finance.
“The CBN must change directives and give commercial banks money, like N500m, and if they fail to give it to real agricultural companies they should be taxed but should be paid interest for giving to the farmers and enhancing food security so that we can have social security.
“So why are we doing with Agbatoken, there are farm estates like NFGCS, that are struggling.
“Agbatoken is tokenisation in agriculture, which combines productivity, effectiveness, security, transparency, and cost savings to improve productivity for agribusiness firms.
“It consists of generating tokens, encrypted records which will represent an asset traded on the blockchain.
He explained that Agbatoken involves representing real-world assets, like crops, livestock, infrastructure and land, as digital tokens on a blockchain.
He said these “tokens will be bought, sold, or traded, allowing farmers to raise capital by selling shares of their assets. This provides an innovative financial solution for farmers, enabling them to leverage their assets to obtain funds without losing ownership.
“We are using blockchain technology within the agricultural supply chain. This has become essential with the rising demand for food security, massive investments in food production, transparency in investments in the agricultural supply chain”.
“Today, many people are becoming interested in food production because food is life. The world needs food safety, sustainability, a desire to support the local economy, rural Infastructural development and workers’ rights.
Blockchain technology offers an unprecedented ability to massively produce food and in the process evolve food security and socio stability globally.
Agbadovolution Technologies Limited via Agbatoken is strongly committed to leveraging blockchain for a sustainable food production and global future that is socially stable. We want to ensure that our stakeholders and clients contribute to saving the world by feeding the world.
Retson explained that though the current landscape of blockchain in agriculture blockchain technology is still relatively new to the agricultural industry, but it is already making great strides.
“The Blockchain in the Agriculture and Food Supply Chain Market Size is valued at $285Million in 2022 and is predicted to reach $7.3billion Million by the year 2031. This is an astounding growth, and for proponents of blockchain technology, it is extremely exciting.
“Remember, asset tokenization provides inclusive financial capabilities. The connection between food, people and asset tokenization is set to revolutionise agricultural productivity and it will start from Nigeria