Stakeholders at the ninth Agriculture Summit Africa have called for a major shift in the continent’s agricultural strategy, urging African countries to focus on processing, storage and value addition rather than relying heavily on raw commodity exports.
The consensus emerged during discussions at the summit, where participants stressed that agriculture must move beyond production to become a driver of industrial growth, food security and economic resilience.
Minister of Agriculture and Food Security, Senator Abubakar Kyari, highlighted the urgency of the challenge, noting that Africa continues to spend more than $100 billion annually importing food despite possessing vast agricultural resources.
Speakers at the event argued that retaining more value within the continent would create jobs, boost industrialisation and reduce dependence on foreign markets.
Group Executive for Corporate and Investment Banking at Sterling Bank, Dele Faseemo, described food security as a critical national issue, warning that countries cannot achieve sustainable development without reliable food systems.
He urged policymakers and industry players to move beyond discussions and focus on practical, scalable solutions capable of transforming agricultural production and distribution.
Also speaking, Minister of Livestock Development, Idi Mukhtar Maiha, said financing structures must reflect the realities of agriculture, particularly livestock production, which often requires longer investment cycles than traditional commercial lending permits.
Sterling Bank’s Head of Agric Finance and Solid Minerals, Dr Olushola Obikanye, argued that Africa’s greatest challenge lies not in production capacity but in converting agricultural output into economic value and industrial power.
Participants agreed that stronger investment in local processing, storage infrastructure and specialised agricultural financing would help reduce food imports and improve the continent’s competitiveness.
The summit concluded with calls for coordinated action among governments, financial institutions and private-sector operators to unlock Africa’s agricultural potential and strengthen food sovereignty.
