FG approves 50% subsidy on agric inputs amid food inflation
The Federal Government has approved a 50 per cent reduction in the cost of agricultural inputs for farmers, aligning with the commencement of dry season farming scheduled for November 25, 2023.
The FG disclosed this in a statement released by the Federal Ministry of Agriculture and Food Security sighted by The PUNCH on Friday.
The statement disclosed that the Minister of Agriculture, Abubakar Kyari, will lead the launch ceremony in Jigawa state.
It noted that the event will not only mark the commencement of dry season farming but also involve the distribution of crucial resources such as seedlings, herbicides, pesticides, and more.
The scope of the dry season farming initiative is national, encompassing all 36 states of the country and the Federal Capital Territory.
The statement emphasised the government’s commitment to supporting farmers by subsidizing essential agricultural inputs by half.
“The Hon. Minister of Agriculture and Food Security, Sen. Abubakar Kyari, will lead several other dignitaries to Hadejia, Jigawa State, where the ceremony will take place.
“A range of agricultural inputs, including seeds, fertilizer, herbicides, and pesticides, will be delivered to farmers at the occasion. The Federal Government is subsidizing the agricultural inputs by 50 per cent,” the statement read.
Nigeria’s current food inflation is currently at 31.5 per cent, according to the National Bureau of Statistics.
The statement noted that the dry season farming initiative is receiving substantial support from the African Development Bank through the National Agricultural Growth Scheme and Agro-Pocket project.
Notably, the Federal Ministry of Agriculture and Food Security disclosed that the NAGS-AP project would leverage digital technology. The ministry has already geolocated and registered over 250,000 farmers, emphasizing an ICT-driven implementation approach.
“The implementation is ICT-driven with earlier steps taken to geo-locate farmlands, enumerate, register, and cluster no fewer than 250,000 farmers,” the statement clarified.
