The federal government has announced plans to assist 250,000 farmers as part of its strategy to enhance food security and economic stability in the country.
This was revealed by Wale Edun, Nigeria’s Minister of Finance and Coordinating Minister for the Economy, during the unveiling of the revamped National Agricultural Growth Scheme (NAGS).
In a statement issued by Mohammed Manga, Director of Information and Public Relations at the Ministry of Finance, Edun highlighted the administration’s ongoing commitment to agricultural reform, in line with President Bola Tinubu’s vision for macroeconomic stability.
The minister pointed to key economic indicators that reflect the country’s positive economic trajectory, including a 3.84% GDP growth rate, improved foreign reserves, and a more stable exchange rate.
Edun stressed the importance of strategic investments in agriculture, underscoring the need for efficient financing, mechanisation, and the establishment of strategic commodity storage systems to boost productivity and ensure price stability.
The initiative, which benefits from the support of the Japan International Cooperation Agency (JICA) and a newly signed partnership with Brazil for a Mechanisation and Commercialisation Programme, will provide critical inputs, machinery, and financial backing to 200,000 farmers during the wet season and 50,000 farmers in the dry season.
The scheme will focus on staple crops such as rice, maize, cassava, and sorghum.
In his remarks, Cornelius Adebayo, Executive Secretary of the National Agricultural Land Development Authority (NALDA), underscored the importance of a coordinated effort in the nation’s agricultural development.
He highlighted the need for integrated approaches to address challenges related to commodity pricing, post-harvest losses, and productivity.
The meeting also addressed logistical challenges surrounding food distribution, with stakeholders emphasizing the need for greater efficiency in the agricultural supply chain.
