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FG to Invest $300m to Fund Youth Engagement in Agriculture, As Strategy to Reduce Food Import Bill

FG to Invest $300m to Fund Youth Engagement in Agriculture, As Strategy to Reduce Food Import Bill

The Federal government, through the Minister of State for Agriculture, Senator Heineken Lokpobiri has revealed that in its efforts to bridge funding challenges in the sector, it is set to invest 300 million USD to fund youths in agriculture.

He also assured that 20% of an initial grant by the Bill and Melinda Gates Foundation in collaboration with the Islamic Bank is to be channelled to support the development of women and youth in Agriculture at a total cost of N100m annually for a five year period.

Senator Lokpobiri made the disclosure while fielding questions from Journalists at a media briefing to declare open the Empowering Novel Agri-Business Led Employment (ENABLE) Conference which began in Abuja Yesterday

The ENABLE Conference which envisages to host 30 African countries is championed by the African Development Bank in Collaboration with the International Institute of Tropical Agriculture (IITA)

According to the Minister ”as a way to support the Youth, the government is set to invest N300mUSD to fund youths in agriculture as a means to cutting down the nation’s food import bill which stands at over N20 billion Naira.

Senator Lokpobiri who said the programme will be duplicated across all the nation’s 109 Senatorial Zones with the ultimate aim of empowering the Nigerian Youth and bringing down the nation’s food import bill lamented that Nigeria had become a dumping ground for all manner of poisonous foods including poultry pumped and preserved with formaldehyde.

“We cannot continue to import food at this time. With Nigeria being the highest producer of Cassava and the high demand for ethanol, the federal government is in the process of acquiring 18-20 cassava processing plants from China” he said

He lamented that “6m naira worth of rice was daily imported and over 20 million eggs respectively as Nigeria suffered a 100mtonnes deficit in egg production”

The Minister also revealed that the federal government was set to unfold the sectors Roadmap in a few weeks for the development of agriculture.

Meanwhile the ENABLE programme is a mechanism for empowering graduate youths and directing them to careers in Agri-businesses base on the Agripreneurs (Agricultural entrepreneurs).

It is a five year programme organised on 4 platforms which include creating an enabling environment for youth employment, supporting agribusiness incubation, financing agribusinesses as well as coordinating, monitoring and evaluation.

The program aims to create jobs, food security and rural income generation. It’s supported with 12.5busd and targets 1. 25 agribusinesses jobs in 25 countries including Nigeria.

Culled from AIToline

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