Agriculture & Agribusiness Budgeting Latest News Planning & Economic Development Revenue

Agric Ministry Generates N307Mn Revenue In 7 Months

 

….As Minister Decries 2% Allocation To Agric In Yearly Budgets

The Minister of Agriculture and Rural Development, Alhaji Mohammed Abubakar, on Friday disclosed that the ministry had a revenue target of N271 million this year but had generated N307 million as at July 2022.

The minister, who made this disclosure during an oversight meeting with Senate Committee on Agriculture in Abuja also disclosed that the ministry had trained and deployed 82, 547 extension workers from 2019 to date to improve farming practices nationwide.

Abubakar told the lawmakers that the ministry successfully facilitated $134 million from the Africa Development Bank (AfDB) to scale up food production and ensure sufficiency in wheat production by 2032

He projected that the facility was expected to result in cultivation of 250,000 hectares by 250,000 farmers at one farmer per hectare, at an average of three metric tonnes per hectare.

According to the minister, the measure will also result in the production of 750,000 metric tonnes of wheat from Jigawa, Kebbi, Kano, Kaduna, Sokoto, Zamfara, Gombe, Borno, Plateau, Adamawa and Taraba States.

Abubakar, who also disclosed that the ministry had increased production of fish by 1,364,450 metric tonnes through artisanal, industrial and marine fishing of the water bodies, attributed the achievements recorded by the ministry to government’s huge investments in the sectors as demonstrated by its consistent significant contributions to the nation’s Gross Domestic Product (GDP).

In addition, he also linked the improvement in the sector’s performance to the synergy amongst the public, private sectors and development partners and advocated the need for the sustenance of the collaboration in order to grow agriculture, diversify the economy and empower Nigerians.

He listed inadequate budgetary provisions as one of the challenges in executing critical projects and programmes to stimulate national agricultural production.

He decried that less than two per cent of the national budget had been committed to agriculture as against 10 per cent agreed by Africa Heads of States at the Malabo Declaration, among other challenge.

Abubakar hinted that the ministry was also engaging youths in production of commodities and to achieve accelerated sustainable growth the economy.

He explained that in order to support value addition, input delivery and generate employment opportunities, the ministry had constructed several agro-industrial estates,agro-processing centres,farm markets and integrated cooperative service centres.

According to him, over three million direct and indirect jobs had been created through the activities of the ministry.

On self -sufficiency in rice production, he said President Muhammadu Buhari approved an intervention fund for completion of 10 large scale rice mills with a combined minimum capacity of 320 metric tonnes per day in 10 states, namely Jigawa, Kano, Adamawa, Niger, Kaduna, Gombe, Ekiti, Ogun, Bayelsa and the FCT.

He maintained that the rice mills would make Nigeria close the 7 million metric tonnes shortfall in domestic rice demand.

In his remarks, the Chairman, Senate Committee on Agriculture, Sen. Abdulahi Yahaya, said the success recorded in the release of funds to the ministry was due to the timely passage of the budget by 9th National Assembly before end of every year.

Spread the love