The 11th African Economic Conference (AEC) kicked off in Abuja, Nigeria, on Monday with a consensus on the need to scale up the continent’s agricultural transformation to spur industrialization and inclusive growth.
Opening the conference, Nigeria’s Vice-President, Yemi Osinbajo, highlighted how the Nigerian Government and private sector partners are leveraging resources for agricultural transformation in the midst of the global economic recession, which has resulted in the country losing up to 1 million barrels of crude oil daily.
Vice-President Osinbajo, who spoke on behalf of President Muhammadu Buhari, disclosed numerous efforts being made by the Government to support agriculture and its value chains to diversify and transform the economy in the absence of oil resources, which formed the backbone of the economy.
He expressed the hope that the conference would come up with evidence-based research and knowledge of good practices that can help Nigeria and other African countries to transform their agricultural production for more sustainable growth.
Over 300 participants are attending the annual event, co-organized by the African Development Bank (AfDB), UN Economic Commission for Africa (ECA) and United Nations Development Programme (UNDP), on the theme, “Feed Africa: Towards Agro-Allied Industrialization for Inclusive Growth.”
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