By Ojugbele Omotunde and George George Idowu
The Minister of Agriculture and Food Security, Senator Abubakar Kyari has disclosed that the Brazilian Government and German Deutsch Bank Group have struck a £995 million agreement with Nigeria to finance a Green Imperative Program in the country.
Kyari also disclosed that the Federal Government and John Deer Group, an affiliate of Tata Equipment, had signed a Memorandum of Understanding (MOU) for the delivery and implementation of 10,000 tractors every year for the period of five years.
The minister made the disclosure on Monday in Minna, capital of Niger State, at the flag-off of Food Security an Mechanised Programme.
He said the Green Imperative programme seeks to establish mechanization hub in each of the 774 local government areas in the country.
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In another development, stakeholders within the Nigerian Frmer’s Group and Coopertive Society (NFCGS), unveiled a blockchain initative called Agbatoken, aimed at revolutionising the agricultural landscape in the country.
The Managing Director and Chief Executive Officer of NFCGS Ltd, Mr. Retson Tedheke, described Agbatoken as ”a form of tokenisation in agriculture, integrating productivity, efficiency, security, transparency and cost savings,” to enhance agricbusiness firms productivity.
He said Agbatoken involves creation of tokens and encrypted records representing assets traded on the blockchain, adding that these token can be bought, sold or traded, noting that it enable farmers to raise capital by selling shares of their assets without relinquishing ownership.
Tedheke emhasized the necessity of blockchain technology within the agricutural supply chain, particulrlyin response to the increasing demand for food security, substantial investment in food production, and transparency in agricultural supply chain investments.
He underscored the importance of food safety, sustainability, local economic support, rural infrastructure development, and dworkers right in global food production.
“The introduction of Agbatoken signifies a pivotal step towards leveraging blockchain technology to address pressing agricultural challenges and propel Nigeria towards a more food secure and economically vibrant future,” he said.
