Agricbusiness is the business of Agricultural Production; it includes crop production, animal rearing, seed supplies, Agrochemical, farm machinery, processing and packaging, marketing, retail sales and distribution. The ultimate result for any Agricultural related activity’s bottom line is profit. With the decline in the oil sector and food security being under attack, Agriculture is becoming the most important sector in the Nigerian economy i.e The Future, but not without challenges both natural and man-made. It has the capacity to employ large number of Nigerians, including rural women and youths and contribute a large percentage to the country’s GDP. Nigeria remains a net importer of food, for many reasons. First of all, the majority of the agriculture-focused operations in the country are small-scale, with limited innovation regarding inputs; harvesting, processing and packaging, distribution, and access to markets, the vast majority of people engaged in agriculture operate at the grassroot level and have limited access to training and finance that are among challenges faced by Agribusiness in Nigeria.
Meanwhile, engaging youths in various communities into Agricbusiness today, will establish the prospects for sustainable socio- economic development and peace in the nation. Youths, who represent majority of the population in Nigeria today, should be visibly contributing as political actors, innovators, entrepreneurs and peace builders, but face disproportionate social, economic and political barriers which prevent them from unleashing their full potential. To utilise Nigerians youths as potential agents of change, requires involving and empowering them in developmental skills and programs that can advance their immediate environment through Agropreneurship, which has the capacity to engage a large number of them at all levels.
Youth Agricbusiness Challenge Concept is all about youth participation in innovative business ideas in Agriculture, the main aim of the concept is to develop and promote Agriculture as a business among Nigerian youths. In doing this, there will be development of all communities and the national economy. As a result, incomes will be enhanced among them. It will as well, bring about food security, employment and improved quality of life will be sustained.
Moreover, the innovative business idea can come from all Agric Value Chain such as:- Agribusiness consultancy (Information marketing and service provision), Agro products broker, food processing i.e adding value to Agro-produce (processing and packaging), vegetable farming, animal rearing and farming input trading, fish farming etc. Executive summary of Agricbusiness ideas will be studied and sold to investors who will partner or buy off the business concept. Efforts are being made to get individual investors, coperate organisations into Agro-Allied production involved and our celebrities who have large number of youth followers. Agricbusiness mostly works among Nigerian youths if only we can promote it in different ways to appeal to them.
Youth empowerment is different from youth development because development is centered on developing individuals, while empowerment is focused on creating greater community change by relying on the development of individual capacity. If our youths are empowered through this concept to engage in Agro-Allied related businesses in their localities, there will be a change in the socio-economic activities in our communities because there is no community or local government area without a unique agro product.
Profitablity Of Agro Based Businesses
The returns on this Agricbusiness is quite attractive because Agro based business is a business with soaring return on investment in Nigeria today going by our population and improved standard of living. With less than #1,000,000, you can comfortably start this business anywhere in Nigeria, even in your house.