Nigeria plans to invest N600 bln to boost agriculture sector
Nigeria plans to invest around N600 billion as stimulus-response to boost productivity in the agriculture value chain, the Minister of Agriculture and Rural Development, Sabo Nanono said on Sunday.
The minister, who was on a tour of Dangote Fertiliser Plant and other fertiliser companies in Lekki Free Trade Zone in Lagos said the stimulus package would target small scale farmers, to ensure food security and sustainability in the country.
He noted that the package would target farmers nationwide and expected to begin with an initial 2.4 million farmers.
He noted that to avoid the abuse of government funds and good intentions, the support would be in form of inputs and not cash as was the practice in the past.
He said the outbreak of the coronavirus coupled with the closure of the country’s border with her neighbours had made it evident that Nigeria could conveniently and sustainably feed itself.
The minister, who was also at the office of the governor of Lagos State Babajide Sanwo-Olu before he commenced the tour, promised to support the state farming communities with rural roads, solar lighting and water holes to increase productivity.
Nanono said his ministry will work together with the Lagos State government in revamping the fish sub-sector in order to tap into its marine potentials to reduce fish importation.
Sanwo-Olu on his part promised to collaborate with the Federal Government not only in the fishing sector but mechanized farming as well.
The governor said this would be actualised when the largest rice mill in Nigeria with a capacity to mill approximately 30 million metric tonnes of rice per annum was completed.
He said it would help Nigeria focus more on the exportation of rice and downward review of prices at the retail market.
The governor said Lagos State had a large retail market for agricultural products as well as the largest enabler in the industry with Dangote Fertiliser Plant cited in its domain.