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LoanThe Nigerian Economic Summit Group has challenged governors to eradicate poverty in their respective states by opening up the rural sector and enhancing their internally generated revenue.

The Chairman, NESG, Mr Asue Ighodalo, gave the charge on the sidelines of the 27th Nigeria Economic Summit convened by the group.

According to him, there is the need to provide extension services and storage facilities to rural farmers, while also urging them to give quality education and improved healthcare facilities to residents of their states.

“We can no longer afford to dream and theorise about the right policies, projects and programmes that will prepare us for the Fourth Industrial Revolution, or gaze in admiration or envy at other countries as they leave us far behind,” he added.

Ighodalo urged governors and the Federal Government to leverage the opportunities of the times to make and implement the right policies.

On his part, the Group Managing Director, Flour Mills of Nigeria, Omoboyede Olusanya, said the challenge of rising food prices across the country could be overcome if more players in the agri-food system increased their investments in homegrown innovation and local production of raw materials.


A statement by the company quoted the GMD as saying that Nigeria needs 60 million tonnes of grains annually while the nation produces about 22 million tonnes of grains, adding that the innovation of local raw materials had further driven investments in backward integration.

Olusanya explained that FMN championed the use of local raw materials and innovation to create affordable products for Nigerians, ensuring that even as imported raw materials increased in price due to a massive gap between supply and demand, the company was able to keep prices low while maintaining quality through innovation and local supply.

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