1 min
A thriving economy cannot be overemphasized as it promotes prosperity to its populace, whereas a struggling economy is a threat to its populace as this seems like our current reality.
The worst situation here is that all the gains achieved over the years in agriculture seemed to wipe out within a short period of time due to policy summersault. This brings us to the most important question, "how do we build resilience in the agricultural sector that will be strong enough to withstand external shocks?"
Resilience in the agriculture sector is a system that can help actors to bounce back easily from unpleasant events that have the potential to end their enterprises. It comprises various components and works together holistically to build an effective and efficient system that protects and preserves the food system and its actors. The first component of resilience we need to develop is our social safety net for the actors. This can be achieved through equipping the bank of agriculture to become a more sustainable financial institution that understands the plight of farmers, enabling them to access financial credits and provide a support system for them to strive and thrive for growth. A social safety net for agricultural actors without access to finance is just a jamboree; no resilience can be built without financial support during a crisis.
In addition, the government needs to build a system of buying off specific produce from the markets during glut or when purchasing power of consumers is low. This is to reduce losses incurred by actors and also to stabilize the market. To achieve this, the government needs to develop some strategic public private partnerships to establish storage infrastructures that are suitable for various farm produce and products. This initiative will help farmers and other actors to survive and thrive better during the economic crisis, as the market becomes guaranteed and their focus will be on increasing productivity rather than looking for a new market.
In conclusion, resilience is a journey, with various stops that need to align with the goals, and there are other factors that contribute to achieving and sustaining it in the agricultural sector. However, we need to work together to ensure that barriers to building resilience are taken away and replaced with opportunities that can support farmers and other actors to achieve it. We need to develop a food system that can withstand internal and external shocks and bounce back to achieve food security. Challenges are normal risks and building a system that can withstand these new realities and challenges should be a goal for all. As we thrive for a prosperous economy and food system, we need to thrive to build a more resilience system into our agricultural sector.
Yours-in-Service
Babatunde
Resilience in the agriculture sector is a system that can help actors to bounce back easily from unpleasant events that have the potential to end their enterprises. It comprises various components and works together holistically to build an effective and efficient system that protects and preserves the food system and its actors. The first component of resilience we need to develop is our social safety net for the actors. This can be achieved through equipping the bank of agriculture to become a more sustainable financial institution that understands the plight of farmers, enabling them to access financial credits and provide a support system for them to strive and thrive for growth. A social safety net for agricultural actors without access to finance is just a jamboree; no resilience can be built without financial support during a crisis.
In addition, the government needs to build a system of buying off specific produce from the markets during glut or when purchasing power of consumers is low. This is to reduce losses incurred by actors and also to stabilize the market. To achieve this, the government needs to develop some strategic public private partnerships to establish storage infrastructures that are suitable for various farm produce and products. This initiative will help farmers and other actors to survive and thrive better during the economic crisis, as the market becomes guaranteed and their focus will be on increasing productivity rather than looking for a new market.
In conclusion, resilience is a journey, with various stops that need to align with the goals, and there are other factors that contribute to achieving and sustaining it in the agricultural sector. However, we need to work together to ensure that barriers to building resilience are taken away and replaced with opportunities that can support farmers and other actors to achieve it. We need to develop a food system that can withstand internal and external shocks and bounce back to achieve food security. Challenges are normal risks and building a system that can withstand these new realities and challenges should be a goal for all. As we thrive for a prosperous economy and food system, we need to thrive to build a more resilience system into our agricultural sector.
Yours-in-Service
Babatunde
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