Federal Government Approves N15BN For Farmers

The federal government has approved N15 billion grant for farmers through  the Bank Of Agriculture (BOA) for 2013 farming season, Vice President Namadi Sambo has said.

Sambo who made this known yesterday at the closing ceremony of the 19th Nigerian Economic Summit (NES) said the grant would be made available to farmers at one digit low interest rate.
He also revealed that the National Council on Privatisation has given blanket approval on privatisation of BOA so that investors can come in.
He said, “we must diversify away from oil because the agricultural sector is where Nigeria have comparative advantage adding that government is strongly committed in unlocking the potential in the agricultural sector to ensure food security, development and create jobs.”
According to  the VP, “The face of agriculture has change in the country and it is reflective, it is no longer  a development but a business”

The government is focusing on agricultural transformation in production, farms storage, processing, value addition, manufacturing and value allied products for all our agricultural commodities, he said, adding that “The sector is the greatest power to create jobs especially for our youth.”
He explained that this is why President Goodluck Jonathan launched the youth employment in agricultural  programme(NAGROPRENEURS), to create a new generation of young commercial farmers and agricultural entrepreneurs.
In his address, the Minister of National Planning Commision, Dr Shamsudeen Usman, said there must be a softer loan in funding agriculture for faster development of the sector,  adding that attention must be paid to the banking sector on the matter relating to agriculture.
He said the transportation sector would soon improve, adding that the railways system has been rehabilitated.
The chairman Nigeria Economic Summit Group Folusho Phillips said the group would continue to push the issue of agriculture branding with all the policy commission on ground explaining that the branding has to do with bragging about what Nigeria has in term of agriculture.
“We must look at branding, having the right to brag on our produce but before we do that we must be able to do wel,” he said.
The Minister of Agriculture and Rural Development Akinwunmi Adesina said the role of government is very vital in the agricultural transformation agenda, adding that there is need for price stabilisation which entails lots of budget implementation.
“We need lots of budget to stabilise price as a country and we do not have that”, he said.