This refers to a fundamental shift from the traditional subsistence-oriented farming approach to a more commercialized, productive, and off-farm centered approach.
Published in Chapter:
Rethinking the Prospects of Sustainable Finance and Challenges of Agribusiness Transformation in Nigeria: Implications of the Nexus for Entrepreneurship Development
Lukman Raimi (Universiti Brunei Darussalam, Brunei), Morufu Oladimeji Shokunbi (Yaba College of Technology, Nigeria), and Rabiu Olowo (Lagos State Ministry of Finance, Lagos, Nigeria)
Copyright: © 2022
|Pages: 21
DOI: 10.4018/978-1-7998-8501-6.ch015
Abstract
The chapter explicates the need to rethink the prospects of sustainable finance (SF) for agribusiness transformation in spite of the challenges facing the sector in Nigeria. It extends to highlighting the implications of the nexus on entrepreneurship development. After a triangular data analysis using the world development indicators (2000-2016) and scholarly articles, the authors found that the prospects of SF are enormous: (1) Nigeria has a modest agricultural growth performance in the crop, food, livestock, and cereal production that could support SF; and (2) SF options such as green loans, green bonds, green credit, green investment funds, green mortgage scheme, and other green financial support instruments could be suitable for agribusiness transformation in the country. Also, the content analysis revealed there are 13 challenges facing agribusiness transformation in the country, and these have harmed the vegetation, farmland, and ocean leading to low productivity. The authors contribute to the literature by identifying SF options as a game-changer for agribusiness transformation.