Dr Akinwumi Adesina, President of the African Development Bank Group, has called for the revival of the e-wallet scheme to address Nigeria’s pressing challenges of food security and production.
The ADB President and Nigeria’s former Minister of Agriculture, made the call while speaking at the 90th birthday celebration of Nigeria’s former Head of State, General Yakubu Gowon.
Adesina emphasised the potential of this digital initiative to transform the agricultural landscape, empower farmers, and combat rising food prices in Nigeria.
The former Agriculture Minister of Nigeria highlighted the past success of the e-wallet scheme, which connected over 15 million farmers to high-quality seeds and fertilizers through a digital platform. This innovative approach not only facilitated access to essential agricultural inputs but also eliminated middlemen, reducing corruption and ensuring that subsidies reached farmers directly.
Dr Akinwumi Adesina, President of the African Development Bank Group.
Adesina: e-Wallet eliminated middlemen, connected 15 million farmers in Nigeria
The former Agriculture Minister of Nigeria highlighted the past success of the e-wallet scheme, which connected over 15 million farmers to high-quality seeds and fertilizers through a digital platform. This innovative approach not only facilitated access to essential agricultural inputs but also eliminated middlemen, reducing corruption and ensuring that subsidies reached farmers directly.
“To ensure food security, the Federal Government in conjunction with State Governments, should return to the highly successful Growth Enhancement Scheme and the electronic-wallet scheme that was put in place when I was Minister of Agriculture. Both initiatives delivered high quality seeds and fertilizers to over 15 million farmers, which made food available at relatively low costs across Nigeria.” Adesina said.
“For purposes of implementation, transparency, and accelerated impact, the Growth Enhancement Scheme and the e-wallet system should be protected by legislation.”
Adesina underscored that with the backing of institutions like the African Development Bank, which is investing over $814 million in Special Agro-Industrial Processing Zones (SAPZs), there is a unique opportunity to integrate the e-wallet system with broader agricultural development efforts. This integration could enhance processing capabilities and add value to local agricultural products, ultimately contributing to national food security.
Acccording to him, “Decisive and sustained efforts are needed to end insecurity, especially to save vast areas of the food belt of Nigeria in the northwest, northeast and middle belt. The deployment of digital surveillance tools, drones, artificial intelligence, and satellite imagery needs to be increasingly used to track and provide intelligence. The development and deployment of farm protection guards and safe food transport corridors are worth developing.”
Highlighting Nigeria’s need for robust educational investments, the former Minister pointed out that only 7% of the Nigerian population has access to higher education, compared to more than 240 million educated individuals in China. He stressed that elevating educational standards is crucial for developing a competitive workforce and closing the talent gap with developed nations.
“A more secure Nigeria,” Adesina said, “will be a food secure Nigeria. A Global Nigeria must be competitive globally.”
He further states that, Nigeria is losing out on the global drive for competitiveness in a world increasingly transformed by education, digital skills acquisition, and innovation across all sectors.