{"id":30538,"date":"2014-08-25T22:40:44","date_gmt":"2014-08-25T21:40:44","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=30538"},"modified":"2014-08-25T22:40:44","modified_gmt":"2014-08-25T21:40:44","slug":"fg-directs-cbn-set-aside-n50-billion-agric-intervention-support","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/fg-directs-cbn-set-aside-n50-billion-agric-intervention-support\/","title":{"rendered":"FG Directs CBN To Set Aside N50 Billion For Agric Intervention Support"},"content":{"rendered":"<p><span style=\"color: #000000;\">The Federal Government has directed the Central Bank of Nigeria (CBN) to<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">set aside a N50 billion mechanization intervention support fund that will<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">allow and speed up the full establishment of the 1,200 private sector<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">driven Agricultural Equipment Hiring Enterprises (AEHE) across the states<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">of the Federation.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">The Vice President, Arc. Mohammed Namadi Sambo gave this directive while<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">commissioning and flagging off on behalf of Dr. Goodluck Ebele Jonathan,<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">President of the Federal Republic of Nigeria, the 100,000 metric tons<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">grains Silos at Sheda, Federal Capital Territory (F. C. T.) and the<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Agricultural Equipment Hiring Centers in Nigeria.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">The Vice President noted that, \u2018as we produce more food, it has become<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">necessary to expand our food storage capacity and reduce post-harvest<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">losses. The development of strategic grains reserve is central to our<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">policy of stabilizing food prices for consumers and assuring guaranteed<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">minimum prices and market access for farmers\u2019. He further stated, \u2018that is<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">why I launched the Agricultural Transformation Agenda in 2011, with the<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">goal of producing an additional 20 million metric tons of food by 2015\u2019.<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Vice President Sambo pointed out that current records indicate that 21<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">million metric tons were produced by Nigerian farmers surpassing this<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">target and achieving increased food production in the past three years.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">The Vice President observed that the Federal Ministry of Agriculture and<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Rural Development (FMARD) has completed a total of six silos with a<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">capacity of 250,000 metric tons (MT) since November 2013 with a further<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">625,000 MT silos to be completed by December 2014, making a total of<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">875,000 MT silos capacity completed within two years. The Vice President<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">expressed satisfaction that the Agricultural Transformation Agenda is<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">achieving great strides in government\u2019s efforts to turn Nigeria into a<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">self sufficient country. He said, \u2018our Growth Enhancement Scheme and the<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">e-wallet system for reaching farmers with fertilizers and improved seeds<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">through the mobile phones, have reached 14 million farmers by 2014\u2019. He<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">expressed delight that Nigeria is the first in Africa to develop the<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">e-wallet system which is now being replicated in several African<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">countries.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Vice President Sambo said that, \u2018with the Agricultural Enterprise Hiring<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Enterprises (AEHEs) being launched today, the agricultural mechanization<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">program will be driven through a public private partnership involving<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">private sector manufacturers of tractors and agricultural machinery,<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">service provider operators, financial institutions and government\u2019. He<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">commended the Minister of Agriculture, Akinwunmi Adesina, the Minister of<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">State, Asabe Ahmed and their team in the ministry for the impressive<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">progress achieved under the Agricultural Transformation Agenda.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Earlier, the minister of Agriculture and Rural Development informed all<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">that, private sector investments in agriculture are expanding. He<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">explained that, all across the nation, small-holder farmers are witnessing<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">a new dawn. \u2018Our food import bill has declined from N 1.1 trillion ($ 6.9<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">billion) in 2009 to N 684.7 billion ($4.35 billion) by December 2013 and<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">continues to decline in 2014\u2019 he said. He however added that despite the<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">gains, certain challenges remain. One of such challenges is the low level<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">of mechanization of the agriculture sector. Farmers still toil with<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">rudimentary implements; the high cost of land clearing is a major<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">disincentive for the expansion of cultivated area; while the high cost of<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">mechanization, from ploughing to harvesting, pose great challenges to<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">farmers across the country. He appreciated President Jonathan for every<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">support given to the Ministry saying, \u2018your vision is our road map\u2019.<\/span><br style=\"color: #000000;\" \/><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Other dignitaries present at the event included the Head of the Civil<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Service of the Federation (HOCSF), Danladi Kifasi, Chinedu Nebo, Minister<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">of Power, Sarah Ochekpe, Minister of Water Resources, Minister of National<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">Planning, Abubakar Sulaiman, the Emirs, Etsu of Kwali and royal fathers<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">and chiefs, representatives of Nigerian farmers, the private sector,<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">entrepreneurs, CEO\u2019s of Tractor Owners Association of Nigeria, banks and<\/span><br style=\"color: #000000;\" \/><span style=\"color: #000000;\">other relevant stakeholders.<\/span><\/p>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Federal Government has directed the Central Bank of Nigeria (CBN) toset aside a N50 billion mechanization intervention support fund that willallow and speed up the full establishment of the&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":22302,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-30538","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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