Business
FG Targets Improved Wheat Production With Subsidies Agricultural Growth Scheme
Joel Ajayi
The Federal Government has launched a groundbreaking initiative to enhance Nigeria’s wheat production, aligning with its efforts to strengthen food security and reduce dependence on imported wheat
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The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, who stated this in his office in Abuja, disclosed that the Ministry is thus advancing Nigeria’s wheat production through the National Agricultural Growth Scheme and Agro Pocket (NAGS-AP).
The initiative, he said, spans 16 wheat-producing States, aiming to enhance agricultural productivity and boost economic growth.
National Project Coordinator, Ishaku Buba, while briefing the Minister, informed that the scheme is targeting 280,000 smallholder farmers and a select group of medium-scale farmers in selected clusters.
Participants, he said, are required to contribute resources to cover inputs for one hectare of irrigated land, noting that fertilizer packages vary, with farmers in most States receiving 50kg of Urea and 100kg of NPK fertilizer, while farmers in Jigawa State will receive increased inputs due to its soil nutrient demands and a commitment of the State Government to boost wheat production.
He added that the project provides significant financial support, including 25% subsidies on certified wheat seeds and 50% subsidies on fertilizers, thus reducing costs for participating farmers.
To facilitate distribution, 409 redemption centres have been established, with 281 already operational, reaching 68,389 farmers (24.42% of the target).The program is expected to conclude its input distribution phase later this month, aligning with the wheat planting calendar.
Enhanced security measures have also been enacted, with personnel drawn from the Police, DSS, and NSCDC in place at redemption centres to ensure smooth operations.
In his closing remarks, HM Edun commended the project team for their efforts, emphasizing the scheme’s potential to strengthen food security, support rural economies, and reduce Nigeria’s dependence on imported wheat.
With this innovative subsidy scheme, Nigeria is poised to make significant strides in wheat production, ultimately contributing to a more food-secure and prosperous nation.
Business
RMRDC Legislative Bill To Ensure Minimum 30% Raw Materials Value Addition Before Export Passes 2nd Reading
By Stella Azi
The Raw Materials Research and Development Council (RMRDC) Bill before the Senate of the National Assembly, to ensure local processing of at least 30% raw materials before export scales 2nd reading Today, Tuesday, December 10, 2024.
The Local Raw Materials Protection draft legislative Bill, sponsored by Senator Nwebonyi Onyeka Peter, from Ebonyi North Senatorial District, is imperative for fostering Nigeria’s industrial growth and development through value addition locally. The Bill seeks to amend the RMRDC Act 2022 to prioritise domestic production and local manufacturing.
During the plenary session at the Senate sitting, Senator Onyeka argued that the draft Bill when passed to law, would transform the national economy by boosting local manufacturing, create job opportunities, reduce import dependence, and ease pressure on foreign exchange demands.
The Senator said that Bill will regulate the importation of raw materials that could have been processed locally, thereby boosting competitiveness and creating a favourable environment for local industries to flourish.
“Promoting local processing to a minimum of 30% or more will add value to our economy, … It will also encourage innovation within local industries, leading to a significant increase in domestic production”, he said.
At its second reading, the Raw Material Protection Bill received overwhelming support of by the House. The Deputy Senate Minority leader, Senator Lere Oyewumi raised concern on the practicality of the Bill; considering raw materials processors who lack capacity for local processing. He stated that strict enforcement may affect manufacturers who rely on import of such raw materials therefore, resulting to lose. He argued that such scenario be taken into consideration.
Earlier, during a chat with journalists, the Director General and Chief Executive officer RMRDC, Prof. Nnanyelugo Martin Ike-Muonso had noted that the Bill seeks to fortify Nigeria’s Local manufacturing sector, reduce dependency on imports and ensure sustainable economic development, through the promotion of local processing and value addition to the nation’s raw materials resources.
He further noted that, when passed, the Bill will ensure that no raw materials are exported without undergoing a minimum of 30% processing locally, adding that this significant stride in national raw materials and manufacturing policy reform will provide Nigerians with more forex for raw materials sourcing, protect natural our resources, and catalyse domestic processing capabilities in the country.
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