Executive director at Cormart Nigeria Limited, a Tropical General Investments (TGI) group company, Dr Johannes Flosbach has called for enhanced funding mechanisms to bolster Nigeria’s agribusiness sector.
Speaking at the 11th German-Nigerian Business Forum (GNBF), Flosbach stressed agriculture’s central role in ensuring food security and driving economic growth, while addressing the critical financing challenges hindering the sector.
During the panel discussion titled “Strengthening the Nigerian Agribusiness Industry for Food Security and Export,” Flosbach outlined TGI Group’s contributions to rural farming and sustainable agricultural practices and called for the need for innovation and collaboration to unlock the full potential of Nigeria’s agribusiness.
He also advocated for stronger partnerships between Nigerian and international stakeholders to position the industry for global competitiveness.
Through the advocacy for sustainable funding and innovative solutions, he explained that TGI Group aimed to drive meaningful progress in Nigeria’s agribusiness sector and ensure its resilience and capacity to meet both domestic and export demands.
He said, “Agriculture is the future, and agriculture means food processing, however, we also need to address a key challenge,
Working capital at 30 per cent interest or more is unsustainable, making it almost impossible to invest in new projects. I believe future forums will need to focus on funding solutions to enable the growth of this critical sector.”
The forum, organised by AHK Nigeria and Afrika Verein with support from the German Federal Ministry for Economic Affairs and Climate Action, brought together key players to explore opportunities in strategic sectors such as agribusiness, renewable energy, construction, and vocational education.
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