Tingo Mobile eyes partnerships to fund Agribusiness Entrepreneurs in Nigeria

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Tingo Mobile eyes partnerships to fund Agribusiness Entrepreneurs in Nigeria
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Tingo Mobile Plc, an Agri-Fintech Company, has disclosed that plans are in motion to intensify partnerships and sponsor more private sector innovations by providing startup funds for new and innovative Agro-businesses.

Mr Auwal Tahir-Maude, Chief Executive Officer, Tingo Mobile Plc, disclosed this in an interview with newsmen on the sideline the Fifth Feed Nigeria Summit in Abuja.

The Summit – Fifth Feed Nigeria Summit is an Agricultural convocation held yearly to provide a platform for functional engagement aimed at proffering sustainable and custom-fitted solutions to challenges facing Nigeria’s Agricultural advancement.

Maude, who emphasised the need to strengthen private sector inclusion, said that Agriculture was the catalyst to drive other sectors of the economy and that the private sector needs more opportunities.

“The Government has done so much in the area of Agriculture, especially the minister, who came up with various innovations.

“If the private sector is supported with funding opportunities, Agriculture will be more than enough for Economic sustainability even without oil,” he said.

Speaking on partnership with All Farmers Association of Nigeria (AFAN), he said that the Association had a very good synergy with all the farmers in the country and is not for political farmers.

“Where else should we go? We came together to partner with technology and funding.

It’s going into billions of Naira, this is a private sector funding so it will be out into judicious use.

“We are currently doing with the wheat and the rice, we are going higher in 2023, it’s not going to be anything political.

“After signing the N20 billion deal pact with AFAN in October, we followed up with a pilot project in November; we have in excess of N1 billion for above 3,000 hectares.”

According to him, Tingo will be engaging in sponsorships and partnerships with new and innovative Agri-business Companies especially those who are into Organic Agriculture.

“At the Summit, deal room we have signed deals for sponsorship of up to six different businesses and partnerships, some of which are going fully into Organic Agriculture.

“One of such deals is with an organic yam farmer who plans to cultivate 25 hectares of farm land and is going purely organic.

“In another of such deals, we are going into a five million dollars partnership with a farmer, alongside AFAN for different varieties of cassava, yams and other root and tuber crops,” he said.

He said the UK government and Tingo would be partnering with a young man who has come up with an innovation to generate electricity using by- products such as the back of yam, cassava to generate heat.

“We are looking at how we can move from bio-chem process via bio-chem fertilisers to fully organic farming; our soil has been disrupted with the prolonged use of chemicals, so we intend to bring back nutrients to the soil.

“We are in line with the Federal Government’s projection to increase yields through this processes, and enhancing abundance food Supply and security in Nigeria,” he added. (NAN)

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