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Agricultural Investment by Private Sector Hits $8billion- Adesina

The Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, has said that the amount of agricultural investment by private businesses in Nigeria in the last one year has hit $8 billion.

The minister said that the huge agricultural investment by private businesses came as a result of the ongoing transformation in the sector.

He said the government had changed its notion of treating agriculture as a social sector, adding that the industry was currently managed as a business.

According to him, “We have been treating agriculture almost like a developmental activity or a social sector. But it is not a social sector and that is why this administration has taken agriculture as a business so as to optimise the use of land and ensure profitability for farmers and investors.

“It will interest you to know that $8bn worth of investments has been invested in agricultural development in Nigeria in just one year by investors in our private sector. And this is since we came onboard.”

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