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Buhari Says More Investment In Agricultural Sector Needed

Buhari Says More Investment In Agricultural Sector Needed

President Muhammadu Buhari has called for “massive” investment in the country’s agricultural sector to tackle the threatening food crisis.

The president said this on Wednesday in Abuja at the National Agricultural Show/Exhibition of the 2021 World Food Day, themed, ‘Our Actions are our Future. Better production, better nutrition, a better environment and a better life.’

Buhari’s call follows warnings from global and regional institutions including the World Bank, Food and Agriculture Organisation (FAO), and the African Development Bank (AfDB).

Sharing the part the Federal Government has played in improving agricultural conditions, he said that a total of N600, in loan, had been disbursed to 2.4 million farmers interest-free.

He said, “The Federal Government, through the Agro-Processing Productivity Enhancement and Livelihood Improvement Support project (APPEALS), has set aside N600 billion as loan support to farmers across the country.

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“No fewer than 2.4 million farmers are expected to benefit from the loan which has zero interest.

“The gesture will support farmers in the country, to improve their productivity aimed at boosting the country’s food security, improving farmers’ production and increasing exports.

“It is gratifying that the sector is being treated as a business, no longer as a development project, with massive distribution of high-quality farm inputs, dissemination of appropriate research results and significant enhancement of the agricultural commodity value chains.

“I would wish to reiterate and it is clear that if the agricultural sector must be made more productive and food systems sustainable, we must all be prepared to invest massively in the sector and rise to the call against looming food crisis as predicted by the World Bank, FAO, AfDB and other key actors in food and agriculture.”

He added, “Nigeria recorded a boost in the production of her major staple crops especially, maize and rice, which rose from 12.8 and 12.3 to 13.94 and 14.28 million metric tonnes (MMT).

“The same is obtainable for cassava, whose production rose from 58.47 MT in 2018 to 73.91MT and is even projected to rise to 93.6 by 2023.

“Growth has also been recorded for groundnut, tomatoes, and sorghum production. Cattle beef, dairy and fish production also rose by 166 percent, 146 percent, and 11 percent, respectively between 2020 and 2021.

“The Central Bank of Nigeria (CBN) and the National Bureau of Statistics report indicates that Nigeria’s national agricultural import bill also reduced from 1.2 to 1.1 billion Naira.”

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