Key agric projects FG wants to spend N30bn on

Agribusiness

For many years now, fiscal spending on agriculture has remained in the lowest position among the key sectors of the nation’s economy. Despite the July 2003 Maputo commitment that require 10% of the national budget, which Nigeria is a signatory to, spending has never gotten to even 5% about 17 years since that declaration.

This neglect has affected the sector grossly and left the country, which has 84 million hectares of arable land and potentials for three million hectares for irrigation, trailing behind Kenya, South Africa, Zambia, Ethiopia and more recently Rwanda.

For the livestock sector, the disproportionate neglect led to the bloodbaths, killings, unreasonable hatred between livestock and sedentary farmers across the country where billions will go into in 2020.

The Federal Ministry of Agriculture and Rural Development seeks to spend over N9 billion in the promotion and development of value chain activities across more than 30 different commodities.

The challenge for many observers is that despite such budgetary allocation in the previous budget, value chain development is still in the lowest ebb in the country. Those recording success are funded by international bodies and donor agencies.

Source: Daily Trust

Read more: https://www.dailytrust.com.ng/key-agric-projects-fg-wants-to-spend-n30bn-on.html

 

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