A coalition of Commodity Associations and Farmer’s Groups has called on the government to support fuel subsidy removal, saying that the subsidy funds should be reinvested into the Agriculture sector.
The call was made at a joint media briefing on Tuesday, in Abuja, Nigeria’s capital, saying that the reinvestment should be done through the newly established National Agricultural Development Fund.
NatureNews report that President Tinubu vowed during his Inauguration that the funds will be channelled into jobs creation, health and agriculture sectors.
The President of the Young Farmers Network Abubakar Bamai said that diverting the subsidy funds to the Agriculture sector would enhance productivity.
He said; “Recognising the critical role that Agriculture plays in our Nation’s economy, we must invest in its long-term sustainability.
“The diversion of the fuel subsidy payments to the National Agricultural Development Fund will enhance productivity, promote technological advancement, and improve the livelihoods of farmers across the country.”
Bamai further suggested areas the Fund could be channeled into such as research and development, Farmer support programmes, Infrastructural development, Agricultural extension services and Agribusiness development.
On Agribusiness, Bamai explained that “there should be support for agribusiness through access to credit facilities, training and market linkages, fostering entrepreneurship and creating employment opportunities in the agricultural value chain.”
He however noted that the call is not in any way undermining the need to address the concerns and welfare of Nigerians in the wake of an increment in the price of PMS.
Also speaking, the President of Women Farmers Association of Nigeria, Amina Kabir said that coming on board the National Agricultural Development Fund would address some lapses encountered in the Central Bank of Nigeria’s Anchor Borrowers Scheme as the agency would be dealing directly with the farmers and not through the Private Finance Initiative (PFI).
On his part, the President of Date Farmers Association of Nigeria Professor Usaini Dikko said the National Agricultural Development Fund just like the Tertiary Education Trust Fund (TETFUND), would go a long way in transforming the agriculture sector. ” farmers believe the new agency will do right by them.”
