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April 14, 2024

Budget Minister Tasks IFAD to Increase Investment  Portfolio  in Nigeria’s Agriculture sector 

Senator Abubakar Bagudu, Minister of Budget and Economic Planning, called on the International Fund for Agricultural Development (IFAD) to increase its investments in Nigerian agricultural projects.

During a courtesy visit by a high-level IFAD delegation in Abuja, the minister acknowledged IFAD’s longstanding commitment to empowering small-scale farmers and producers, particularly those vulnerable to risks. He emphasized the role this plays in promoting inclusivity within the agricultural sector.

Bagudu commended IFAD’s investments in technology, administration, finance planning, and human resources, noting how these efforts optimize corporate effectiveness and reduce administrative bureaucracy.

He reiterated the current administration’s commitment to a multi-faceted approach. This approach integrates sustainable agricultural practices, climate-smart technology, and social protection programs, demonstrating a proactive stance towards addressing contemporary challenges.

Dr. Donal Brown, Associate Vice President of the Programme Management Department at IFAD, commended the federal government’s commitment to food security, agricultural development, and implementing the Food Systems Transformation Pathway in Nigeria.

Recognizing Nigeria as a key partner and recipient of significant programs, Dr. Brown emphasized the need for close collaboration to review the IFAD replenishment process. He reaffirmed IFAD’s commitment to supporting the federal government in various capacities. Dr. Brown also urged increased focus on the Value Chain Development Project, which aims to improve food efficiency and financial management.

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