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Nigerian News, Politics, Business, Economy, Investment, Entertainment and Sports. > Blog > Business > Farmers call for diversion of subsidy proceeds to agric fund
Business

Farmers call for diversion of subsidy proceeds to agric fund

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Last updated: June 5, 2023 5:10 pm
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3 years ago
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Women and Youth Farmers Associations have called on the Federal Government to put funds that would be saved from the removal of petrol subsidy into the National Agricultural Development Fund (NADF).

The groups made the call in collaboration with commodity associations.

Speaking during a joint press conference of Youth and Women Farmers and other Critical Commodity Associations, the National President, Nigeria Young Farmers Network, Dr. Abubakar Bamai Musa, said putting funds into the National Agricultural Development Fund will enhance agricultural productivity, promote technological advancements, and improve the livelihoods of farmers across the country.

He said, “We commend the government most sincerely for the right decision and employ it to as a matter of urgency divert a great percentage of the proceeds gained from the withdrawal of this fuel subsidy to the NADF to foster sustainable agricultural practices and support the growth and development of Nigeria’s agricultural sector and enhance food security.

“We have confidence in the membership of the Board of Directors of the National Agricultural Development Fund and its leadership under Dr. Garzali Muhammed Abubakar Recognizing the critical role that agriculture plays in our nation’s economy, it is imperative that we invest in its long-term sustainability.”

Commending the past administration for initiating the NADF, National President, Date Farmers, Processor and Marketers Association of Nigeria, Professor Hussaini Garba Dikko, said the managers of the NADF are credible personnel that can be trusted with such huge funds.

He said investing in critical agricultural infrastructure such as irrigation systems, rural roads, storage facilities, and processing centers to facilitate efficient value chain management and reduce post-harvest losses will positively impact on the country’s economy.

The President, Association of Livestock Managers, Mr. Ilyasur Bulamai, said livestock is the most important product in Nigeria due to its ability to generate revenue more than any other commodity association.

“If you calculate the number of our products consumed every day and night, I think you will be encouraged to fund livestock farming. Livestock does not have a season, you can produce and market anytime, and that’s why we are different from others.”  

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