Farmgate Africa’s Journey to 2030
According to reports obtained from the World Bank, fewer people around the world are living in extreme poverty. While this may be good progress, there are still loopholes — gaps to be filled — if you will. The first gap is that although fewer people are living in poverty, the decline in poverty rates have significantly slowed down. This decline further raises concerns about the feasibility of ending extreme poverty by 2030 which also points to the need for increased pro-poor investments.
Three years ago, the percentage of people living in extreme poverty around the world fell to an all-time low of ten percent and that figure has been sustained for the past three years further reflecting steady but slow economic progress. Despite the tremendous efforts that have been made towards reducing poverty, the rates of poverty in developing countries have remained stubbornly high. In a country like Nigeria that is often plagued by socio-economic strife and political upheaval, economic hope almost feels like a long reach. In Nigeria, the minimum wage is 18,000 naira per month. This is equal to a meager 50 dollars a month in U.S dollars, an amount of money that is hardly enough to sustain a family of three.
And so we turn to Agriculture. This is where Farmgate Africa comes into the picture. In an attempt to increase patronage of local content through programs such as commodity purchasing and commodity trading, Farmgate Africa has placed itself at the forefront of challenging the poverty problem in Nigeria head-on. For Farmgate Africa, the journey to 2030 has just been launched.
By tapping into Nigeria’s natural resources and setting up a system that has trade and purchase of local commodity at its epicenter, Farmgate Africa is contributing to efforts to resuscitating the Nigerian economy. Despite the World Bank’s report that Nigeria could be among the countries with double-digit poverty percentage, at Farmgate Africa, we believe and know that the sky is just the limit.