A data analyst at Access to Seeds Foundation, Timothée Pasqualini, has said Nigeria needed an annual investment of N130bn to meet the actual demand for seed production which is about 400,000 metric tonnes per annum.
According to the data analyst, Nigeria with current seed production capacity of about 80,000 metric tonnes is a far cry from what the country actually needs.
Pasqualini at a presentation of the first access to seeds index for Western and Central Africa in Lagos, explained that Africa represents only two per cent of the global seed industry worth about $50bn.
Also speaking at the event, the Executive Director, Access to Seeds Foundation, Ido Verhagen, however stated that Nigeria-based seed company, Value Seeds tops the rankings in new research on seed companies operating in Western and Central Africa, but stressed that the overall picture was one of international and African seed companies falling short in delivering quality seed and new varieties to smallholder farmers.
This according to a new study by the Amsterdam-based Access to Seeds Foundation limits the potential to address food security, nutrition and climate resilience.