By Dipo Olowookere
A renowned Agribusiness Consultant and Director of Marketing, Rome Business School, Nigeria, Pastor Toromade Francis, has revealed that sound knowledge of Agribusiness Management is the key to a successful, profitable agribusiness venture in Nigeria.
He made this known while speaking during the just concluded Masters degree student’s welcome party organised by Rome Business School last week.
Mr Toromade, who during the event was honoured by the founder of Rome Business School, Professor Antonio Ragusa, said the reason most agribusinesses fail in Nigeria was because farm owners and investors focus mainly on the technical aspect of the business without paying much attention to acquiring the cognitive managerial skills needed for sustaining an agribusiness venture.
He explained that sound knowledge of Agribusiness Management will help an agribusiness owner to lower costs of production, boost profits and ensure that food products are grown and distributed effectively.
Mr Toromade further explained that the mistake most farmers in Nigeria make is venturing into agribusiness believing that the technical knowledge they have is enough to run the business.
He pointed out that many agribusiness owners do not possess agribusiness management skills like Human Resource Management, Supply Chain Management, Marketing and Sales of Agric Products, Agribusiness Finance and Management etc. before venturing into agribusiness while adding that all these are what make the business in Agriculture sensible and profitable.
“I have discovered that many people just go to school to study Agricultural Science; they learn about how to rare chicken, cattle, grow crops etc. but the business management aspect of Agriculture, there is a gap and this has affected many agribusinesses in Nigeria, making them unprofitable and unsustainable.
“On the other hand, many farmers have managerial skills but lack technical skills. This calls for training that will make the farming business sustainable and profitable.
“While the culture in agric can keep you in motion, the business in it will keep you moving. Therefore, there is need for an agribusiness owner to have sound knowledge of agribusiness management in order to effectively run his business from both the technical and business sides. That way, he will not be easily bamboozled or cheated by staff, partners or associates,” the cleric said.
Mr Toromade revealed that he is presently working on establishing a world class Agribusiness Management School where agribusiness owners can acquire the skills needed to achieve a successful and profitable agribusiness venture as is obtainable all over the world.
more recommended stories
BREAKING: Buhari Signs 2019 Budget of N8.91tr
By Modupe Gbadeyanka The 2019 Appropriation.
Stock Recommendation for This Week
By Modupe Gbadeyanka Last week was.
Market to See Mix of Profit Taking, Bargain Hunting This Week
By Modupe Gbadeyanka The positive vibe.
Nigeria’s Manufacturing PMI Sustains Faster Growth Rate in May
By Dipo Olowookere The Central Bank.
NSE Bars Stockbrokers, Others from Capital Market for Fraud
By Dipo Olowookere No fewer than.
N8.7bn Financial Stocks Exchanged Hands in One Week
By Dipo Olowookere A total turnover.
MTN Nigeria Suffers First Loss at Stock Market
By Dipo Olowookere For the first.
Stockbrokers Institute Offers 31 Financial Journalists Scholarship
A total of 31 financial journalists.