Boost for Agric economy as Labo Group launches farm subsidiary
Agriculture sector has received a big boost with the addition of Labo Agric Farms, a subsidiary of Labo Group owned by leading entrepreneur, Olabisi Akanbi with interests in real estate, automobiles and entertainment.
Labo Farm which is sprawled over several hectares of land in Ajebo, Ogun State began operations in the second quarter of 2021 focuses on two key areas of business as a launchpad namely animal husbandry and crop farming.
Worried by the inequality between Nigeria’s rising population and food supply, drivers of Labo Farms are seeking to address poverty, hunger and unemployment in the land. According to agricpreneur, Olabisi Akanbi, Labo Group is seeking to become a rallying point and key driver for youth engagement in Agriculture.
Speaking on the launch, Akanbi disclosed, “Labo Group has a track record of success in every sector we operate and that is the driving force that we bring into Agriculture. As a team, we want to make a big difference with our modest effort and contribute our quota to the economy. Economists have identified the critical need to make Nigeria not only a self-sufficient nation but a agric commodity exporting economy. Labo Farms wants to be at the epicenter of growth and we are excited to partner with stakeholders to make Agriculture a critical driver of the Nigerian economy one crop at a time.”
According to Akanbi, Agriculture can reclaim its pre-independence position as the biggest contributor to Nigeria’s Gross Domestic Product (GDP). “Nigeria is blessed by arable land which forms a key area of comparative advantage for the growth of our economy. As a youth ambassador, I’m committed to helping to use my influence to help drive the attention of Nigerian youths toward agriculture through small-holder farming. Needless to say that Nigerian youths form the largest number of Nigerian productive force.”
Labo Farms is also seeking to drive youth empowerment through agriculture engagement by collaborating with traditional rulers of Ajebo community in Ogun State. “During our visit to the palace of the traditional ruler of the community, we expressed a strong desire to ensure that youths of the community are empowered. We have set in motion activities to help ensure that this goal is realized within a short time,” Labo assured.