Early Failure Signals of Nigerian Agritech Companies
Several
factors account for why many Nigerian agritech startups may struggle to survive
the next five years, executing their playbooks. According to our analyst, two
factors stand out in appraising the early failure signal of Nigerian agritech start-ups;
one is disequilibrium in the companies’ value statement and implementation
strategies and the other is lack of communication finesse among these companies,
especially during crisis situation even though some of these companies are using Covid-19 pandemic,
food price inflation, climate conditions such as floods, insufficient rain, etc as
excuses for not delivering on investors’ return on investment.
Since 2014, the number of Agritech startups in Nigeria has increased considerably. Between 2012 and 2020, 23.50% of the identified 34 Agritech startups focused on delivering smart farming and digital finance solutions. It also emerged that more th
How Insecurity is Shrinking Agriculture and Expanding Food Insecurity in Nigeria
Several reports have indicated that agriculture makes significant contributions to the development of any country. In the recent report released by the Nigeria Bureau of Statistics (NBS) agriculture contribution to GDP in the Q1 of 2021 is 3.86% lower compared to the year 2020. Despite all odds, the industry continued to add value to the Nigeria economy. Exhibit 1: Sectors Contribution to GDP in Last 5 years in Nigeria (%)
Food Price Instability and Volatility: What Can Nigeria Do?
It is no longer news that prices of food have skyrocketed and this has somewhat become unbearable for many Nigerians living below the national minimum wage. Several factors have been mentioned as the cause of this overarching condition. While some people have attributed the increased and unstable prices to the farming and harvesting methods practiced by farmers, some other people believed that the restriction placed on transport of some food products such as tomatoes and meat, yam, cereals which are mostly produced in the northern part of the country and the ban on importation of internationally produced foodstuff like rice are responsible for the price surge. The lingering farmers-herders conflict is another affliction that continues to influence food prices n
The Big Data Ecosystems and the Future of Food Security in Africa
It’s no longer a doubt that every sector of the world is being revolutionized due to the increasing role of Information, Communication, and Technology in addressing challenges faced by humans in all sectors of the economy. For Agriculture, the sector has metamorphosed from the primitive stage to the modern stage and experts have noted that the next phase of agricultural practices will be largely driven by data of all kinds. Unfortunately, the Africa continent is currently lagging in this regard and this has continued to impact our agricultural production negatively. With this challenge, it is only important to enlighten the public on what the next phase of modern agriculture entails.
Based on the foregoing, FarmKonnect Institute for Data and Agribusiness Studies (FIDAS) on Saturday 27 March 2021 held its first quarterly webinar series with the theme focus “Big data Ecosystem: What is in it for stakeholders in Nigeria’s Agricult
Changing Ways of Producing These Crops and Meats Will Reduce GHG Emissions in Africa
Several reports have indicated that the world needs to cultivate a significant number of lands to avert hunger in 2050.
During this year, about 9 billion people are expected to be on earth. To reduce
the severity of hunger during the year as espoused by experts in the last two
decades, countries and continents have been working on and implementing
sustainable ways of cultivating food and cash crops without neglecting better
ways of rearing animals.
Despite the significant interest in sustainable farming practices, evidence still abounds that a large number of countries in the developing world are still struggling in employing the pract