• Business - Economy
  • Updated: May 28, 2024

Agric sector pumps N309bn into economy under Tinubu – FG

Agric sector pumps N309bn into economy under Tinubu – FG

The Federal Government, on Monday, disclosed that activities in the agricultural sector, particularly the harvest of crops led to the injection of N309bn into the Nigerian economy in the past year.

It also added that Nigeria is currently working in partnership with Brazil to provide agriculture mechanisation hubs across the federation, adding that about ₦1.6bn (€995,000) is being used for this.

Abubakar Kyari, the Minister of Agriculture and Food Security, made this known at the ministerial briefing in Abuja while speaking on achievements made in the agriculture sector since Tinubu assumed office on May 29, 2024.

Speaking on the activities of the agriculture ministry on Monday, Kyari said the Federal Government launched the dry season farming programme with the cultivation of 118,657 hectares of wheat in 15 states in the acceleration of all-year-round farming.

“The ministry supported 107,429 wheat farmers with inputs resulting in output of 474,628 metric tonnes. The estimated value of N309bn was injected into the economy. The support that was given, as we all know, was a 50 per cent subsidy on all inputs including fertilisers, agrochemicals, that is herbicides and insecticides, as well as seeds, and this was free of charge.

"We also imported 6,750 seeds, tonnes of wheat from Mexico, and also got about 5,500 seeds procured and sourced locally. The harvest that we have realised would have an estimated value of about N309bn that is injected into the economy,” Kyari stated

The minister stated that in response to a presidential directive, the Federal Ministry of Agriculture and Food Security released 42,000 metric tonnes of assorted food commodities from the Federal Government’s strategic grain reserves to the National Emergency Management Agency for distribution to Nigerians.

"We procured and distributed to all states and the Federal Capital Territory 58,500 metric tonnes of milled rice to dampen escalating prices. There is the fortification of crops with Vitamin A micro-nutrient to enrich nutrition content and health value of food commodities,” he stated.

Kyari added, “In response to persistent food inflation, the following measures were undertaken to boost production:

Distribution of 60,432MT of improved seeds, 887,255MT seedlings, 138 value kits, 501,726 litres of agrochemicals, 62,328.5MT of inorganic fertilizers, 1,000kg fungicide, and 33,200 equipment to farmers across different value chains to enhance production.

“The ministry received 2.15 million bags of fertilizer from the Central Bank of Nigeria for distribution to farmers free of charge. There was an improvement of farmland security with the provision of additional resources to Agro Rangers and other security agencies."

On livestock production and animal health, the minister said his ministry procured and distributed 14,056,467 doses of anthrax spore, foot and mouth diseases vaccines for risk-based vaccination exercises in 22 high-risk states located in the North-Central, North-West, North-East, South-West and South-South zones of the country.

“In the pilot phase, we handed over to 15 state governments 760 tonnes of poultry feed and 70 tonnes of ruminant feed for distribution to smallholder farmers and the implementation of National Livestock Development Plan on the promotion of grazing reserves and ranching nationwide,” Kyari stated.

On strengthening mechanisation, the minister said the government had signed a Memorandum of Understanding with John Deere and Tata Africa to assemble in-country and supply 10,000 tractors with implements and accessories at 2,000 units yearly, as well as 100 units of combine harvesters to support agriculture production.

“We have a partnership with the Brazilian government with the sum 995,000 Euros to provide mechanisation hubs across the federation. There is also the facilitation of supply of 2,000 Belarus tractors and the Greener Hope Mechanisation Services are also on course,” Kyari stated.

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