An agritech startup called Agrovesto is assisting smallholder farmers by providing them with tech-driven agri-extension services and digital tools. Its goals are to reduce post-harvest losses for local farmers, provide them with financial assistance, connect them to lucrative domestic and international markets, and increase production. Farmers, cooperatives, groups, financial institutions, development partners, and government agencies can all use its digital platform as a single platform. It also offers climate-smart alerts and real-time agronomic advice, guaranteeing effective supply chain management and transparent input distribution.
According to the CEO, The company was founded to assist farmers and other agribusinesses in selling their produce both domestically and abroad. In a recent interview with Techpolyp, Agrovesto CEO, Mr. Bayo Adewoye discussed the company’s services, products, future objectives, and strategies for navigating Nigeria’s difficult startup environment. Agrovesto, who completed the iHatch incubation program, had notable achievements the previous year. It secured a 5 million naira seed capital by being one of the 20 finalists in the MTN Cloud Accelerator Program.
He explained that Agrovesto operates offline and leverages current technologies to make farming operations easier, give farmers access to markets, and let them communicate with financiers and processors. Bayo emphasised that their platform addresses Nigeria’s food waste problem by reducing post-harvest losses by 80%. In order to improve farming methods, the conversation also emphasised Nigeria’s need for greater embrace of contemporary agricultural technologies.
According to Bayo, the NomaOS platform is used by Agrovesto, a technology business that specialises in the agricultural industry, to link value chain participants and give farmers access to services like market connections, insurance, and financing.
He explained that Agrovesto serves as a platform for outside suppliers rather than offering these services directly. Bayo emphasised the difficulties faced by Nigerian small-scale farmers who have limited access to technology and poor levels of digital literacy. Agent networks and streamlined technological solutions are how Agrovesto tackles this issue. Additionally, he talked about the company’s initiatives to improve data gathering for farmers, which facilitates their access to loans and other facilities, including farm mapping, pre-planting, and post-harvest data tracking. Bayo underlined how Agrovesto’s emphasis on ease of use and practicality for farmers is what drives its success. Additionally, he conveyed excitement regarding the NumaOS platform’s ability to upend Nigeria’s agricultural technology market.
Reasons for Nigeria’s Agriculture’s Slow Adoption of Modern Technology:
According to food security figures from 2024, 79% of Nigerians experience some sort of food insecurity problem, with 20% experiencing severe food insecurity and 59% experiencing moderate food insecurity.
This is due to the fact that 77% of Nigeria’s land is arable, despite the country’s enormous agricultural potential being mostly unrealised. Research indicates that more than 80% of farmers in Nigeria are smallholder farmers, making up the majority of the country’s agricultural economy. 90% of the stable foods in the area are produced by smallholders. The majority of Nigerian farmers use technology slowly. For instance, over 70% of farmers rely on antiquated equipment, and only 1% of all farming households own tractors.
When asked what he believes to be the reasons for Nigeria’s sluggish adoption of contemporary agricultural technologies, Bayo listed the following:
- Due to the growing urban migration of young people, many farmers have not used contemporary information communication technology (ICT) in their agricultural operations, leaving an aged rural population where the majority of farming is done.
- High-profile investors are deterred from funding the nation’s agriculture by the insecurity in many areas.
- Blackouts and power shortages frequently make it difficult to use power-dependent equipment.
- The short lifespan of sophisticated agricultural equipment owned by local farmers in Nigeria is frequently caused by a poor maintenance culture.
Tech-Driven Agric Extension: Filling the Gap
An important part of Nigeria’s economy is its agriculture industry. At least 70% of workers are employed by it, and it helps to increase food security. However, inadequate agricultural extension programs also impede the agriculture industry.
Using artificial intelligence (AI), Agrovesto is giving farmers access to precision farming equipment, consultancy services, and agricultural knowledge. Through a number of training courses, learners can learn more about agricultural advising and extension services. They also get assistance in the form of useful information and investment deal brokering. This element is crucial in creating relationships that benefit both investors and farmers in rural areas. This aids in their ability to pick up new skills, adjust, and develop new methods and technologies.
Additionally, extension services support biodiversity conservation, environmental protection, and climate change adaptation and mitigation for smallholder farmers. Furthermore, it enables them to generate enough food to support their families and advance the welfare of their nation. All things considered, these services enable farmers and other rural producers to adjust to the changing agricultural environment.