FG approves 50% subsidy on agricultural inputs amid food inflation

The Federal Government has endorsed a 50% reduction in the cost of agricultural inputs in preparation for the commencement of dry season farming starting from November 25, 2023.

This announcement came through a statement released by the Federal Ministry of Agriculture and Food Security. The statement indicated that the Minister of Agriculture, Abubakar Kyari, will lead the launch ceremony in Jigawa state.

The event aims not only to kickstart dry season farming but also to facilitate the distribution of vital resources like seedlings, herbicides, pesticides, and more.

This initiative spans across the nation, encompassing all 36 states along with the Federal Capital Territory, highlighting the government’s dedication to supporting farmers by subsidizing crucial 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.

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