Business

FG To Inject N600bn In Agricultural Sector

Minister of Agriculture and Rural Development, Sabo Nanono has disclosed that the Federal Government has decided to inject over N600bn as stimulus response into the nation’s agricultural sector.

The Minister said the fund would target small scale farmers nationwide to ensure food security and sustainability.

He explained that the N600bn stimulus response would begin with 2.4 million farmers in the first phase.

Nanono further disclosed that the support would come in the form of inputs and not cash to avoid the abuse of government funds and good intentions.

Nigerian farmers at work

According to a statement by the Director, Information, Federal Ministry of Agriculture and Rural Development, Theodore Ogaziechi on Sunday, the Minister made the disclosure while on a tour of Dangote Fertiliser Plant and during a crucial meeting with other fertiliser companies in Lagos to galvanise their cooperation for the production of inputs.

The Minster promised to collaborate with the Lagos State Government in the fishing sector to tap the potential of the state’s marine endowments and reduce the importation of fish in Nigeria.

Responding, the Lagos State Governor, Babajide Sanwo-Olu assured that the State will join hands with the Federal Government not only in the fishing sector but also on mechanised farming.

The governor said Lagos would complement the Federal Government’s effort when it completes its rice mill project, describing it as the largest rice mill in Nigeria with a capacity to mill approximately 30 million metric tonnes of rice per annum.

This, he said, would help Nigeria focus more on the exportation of rice and the downward review of prices at the retail market.

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