By Ugo Aliogo, Esther Ehoche and Judith Obaze
As part of efforts to improve food processing in Nigeria, government has been advised to adopt technology as a key driver to make processing efficient.
Speaking at theÂ 2018 Institute of Directors Nigeria (IoD) new membersâ€™ induction ceremony in Lagos, with the theme: â€˜Leadership Demands of a Director in a Digital Ageâ€™, organised by the institute, the Group Deputy Managing Director, Kewalram-Chanrai Group,Â Mr. Victor Eburajolo,Â said in terms of technology improving the food value chain, there was much that should be done.
Â He also stated that one of the problems facing the food processing industry was that the industry has not embraced technology in the area of food processing; as a result, it has not improved as expected.
Eburajolo explained that despite governmentâ€™sÂ intervention funds to support the sector, businesses have not strived as expected because the funds donâ€™t get to those doing businesses. He added: â€œGovernment gave out intervention funds to revive the textile industry, but today the industry is still struggling.â€
He advised government to provide the enabling environment for businesses to strive, and support efforts geared towards improving the economy, noting that if the environment is created, entrepreneurs would find a way to do business and not wait for intervention fund which he noted doesnâ€™t really get to those doing businesses.
Earlier in his remarks, the President/Chairman of Council, Alhaji Ahmed Mohammed, said the institute prides itself as a champion of good corporate governance.
He also stated that the future of business has also become less predictable because of the impact of disruptive technology, artificial intelligence and digital currencies, amongst other new interventions that have characterised the digital age.
Eburajolo added: â€œThe environmental shift caused by digital may challenge the very existence of individual companies, even entire industries. Boards and executives will need to question all pre-existing assumptions about the firmâ€™s mission and industrial positioning, as well as the sustainability of its business models and methods.