Agriculture
Sugar: FG Gives Investors N2bn Lifeline
The Minister of In
dustry, Trade and Investment, Dr. Olusegun Aganga has said that the Federal Government has concluded plans to provide N2 billion Agricultural and Infrastructure Support Fund for investors in the sugar industry.
Aganga made this known in Abuja recently during the quarterly meeting with the Directors General and Chief Executive Officers of agencies and parastatals under the ministry.
He said the intervention fund expected to be disbursed at a single digit interest rate would serve as cheap and affordable capital for investors investing in the Backward Integration Programme of the federal government in the sugar sector.
According to the Minister, the National Sugar Development Council, a parastatal under the ministry would provide N1 billion from the sugar levy, while the Bank of Agriculture would provide a matching fund of additional N1 billion.
He said the funds would serve as intervention fund to assist investors and farmers who are investing in the sugar-cane to sugar programme which is part of the Back-ward Integration Programme in the sugar sector.
He noted that the single digit interest rate was part of government’s efforts toward the provision of an enabling environment for Nigerians to take advantage of the FG’s sector specific policies that were aimed at industrialisation and job creation in the country.
He added that the Nigerian Sugar Master Plan which provides the road-map for 100 per cent local production of sugar had within one year of implementation raised the nation’s profile by attracting about $ 3 billion pipeline investments into the sector.
The Minister said the Nigerian Industrial Revolution of the present administration was on course with the inauguration of the Presidential Advisory Council on NIRP and said that the council has been addressing bottlenecks issues
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FG, Ogun Distribute Inputs To 2,400 Farmers
Federal Government and the Ogun State Government, on Wednesday, distributed farm inputs to farmers as part of effort to address food security challenge.
The State Director, Federal Ministry of Agriculture and Food Security, Dr. Toyin Ayo-Ajayi, during the flag-off ceremony of Inputs Redemption Under The National Agricultural Growth Scheme-Agro Pocket (NAGS-AP), in Ogun State, disclosed that beneficiaries of the gesture were primarily rice, maize and cassava farmers across the State.
Ayo-Ajayi commended the Ogun State Government for partnering with the government at the centre for the effort in supporting farmers with inputs that would bring about yieldings for local consumption and likely exportation.
She noted that government is supporting rice, cassava and maize farmers with inputs worth N212,000; N189,000 and N186,000 respectively.
The Permanent Secretary in the State Ministry of Agriculture, Mrs Kehinde Jokotoye, who represented the Commissioner in the Ministry, Bolu Owotomo, stated that traditional farmers are critical in food production, hence the need to encourage and support them with inputs that would bring about desired results during harvesting.
Owotomo said: “Let us make good use of this opportunity, so that the success of this phase will make farmers benefit more from the state and federal governments of Nigeria.”
Earlier, State Coordinator, Federal Ministry of Agriculture and Food Security, Dr. Oluwatoyin Ayo-Ajayi, appreciated the present administration for partnering with the federal government for the initiative, adding that the programme is designed to support farmers at the grassroots level in cassava, rice and maize with inputs such as, seeds, pesticides, herbicides and fertilizers, to boost their production and enhance their livelihood.
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