360,000 farmers will receive financial support from the Federal Government as part of its initiatives to stabilize the economy through agricultural growth.
At the Access Bank Customer Forum on Thursday in Lagos, the Coordinating Minister of the Economy and Minister of Finance, Wale Edun, stated that this action is essential to controlling inflation and maintaining the stability of food prices.
“The plan for this dry season, after a successful one, is to assist and fund 360,000 farmers,” he declared.
He went on to say that by early 2024, the government wants to cultivate 360,000 hectares of land to generate 1.4 million metric tons of agricultural product.
“We are estimating 1.4 million metric tons by next January, February, when the harvest comes, and it’s a key success factor,” he pointed out.
Edun emphasized that bringing food costs under control would contribute to lower inflation and put the nation on the road to economic stability. He said, “If food prices decline, inflation declines as well, putting you on the path of critical stability.”
The government has collaborated with other initiatives, such as Nigeria’s First Lady Remi Tinubu’s farmers club launch, as part of a larger plan to revitalize the industry.
“Everybody has a role to play. Just yesterday, Remi Tinubu launched a farmers club for young farmers. We must try and boost the agricultural sector,” Edun declared.
Although government revenues have risen, Edun underlined the need for stricter fiscal control and increased investments in vital infrastructure as part of the fiscal forecast.
“Let me say that in terms of fiscal management history, revenues have doubled,” he stated.
He emphasized the wider effects of agricultural growth, pointing out that it will promote export output, help create jobs, and enhance fiscal management by improving revenue collection.
For employment generation, encouragement for export production, and, of course, incentives and structures for stricter fiscal management,” he further said.
Aliko Dangote, the president of the Dangote Group, commented on the value of domestic manufacturing and criticized the overabundance of imported items.
“India is great today because they almost shut down their market and produced locally, he said.
After learning that the biscuits being served at two sites in Nigeria were manufactured in China, he became even more irate.
“I was a bit angry, all the biscuits that were given in two different locations were only made in China, which is wrong,” Dangote declared.
In order to compete with goods from elsewhere, he demanded more assistance for regional businesses.
Going back the memory lane, it’s known that the Young Farmers Club, Nigeria was founded on Tuesday by Senator Oluremi Tinubu, the wife of the president, in association with the Federal Ministry of Agriculture and Food Security.
