BREAKING: Good News As FG Approves 50% Subsidy Amid Economic Hardship

BREAKING: Good News As FG Approves 50% Subsidy Amid Economic Hardship

The Federal Government has granted approval for a 50 percent reduction in the cost of agricultural inputs, coinciding with the commencement of dry season farming scheduled to start on November 25, 2023.

This decision was revealed in a statement released by the Federal Ministry of Agriculture and Food Security on Friday.

The statement mentioned that the launch ceremony in Jigawa state will be led by the Minister of Agriculture, Abubakar Kyari.

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The event not only marks the beginning of dry season farming but also involves the distribution of crucial resources such as seedlings, herbicides, pesticides, and more.

The dry season farming initiative covers the entire nation, including all 36 states and the Federal Capital Territory.

The government’s commitment to supporting farmers is underscored by subsidizing essential agricultural inputs by half.

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“The Hon. Minister of Agriculture and Food Security, Sen. Abubakar Kyari, will lead several other dignitaries to Hadejia, Jigawa State, where the ceremony will take place.

“A range of agricultural inputs, including seeds, fertilizer, herbicides, and pesticides, will be delivered to farmers at the occasion. The Federal Government is subsidizing the agricultural inputs by 50 per cent,” the statement read.

Nigeria’s current food inflation is currently at 31.5 per cent, according to the National Bureau of Statistics.

The statement noted that the dry season farming initiative is receiving substantial support from the African Development Bank through the National Agricultural Growth Scheme and Agro-Pocket project.

Notably, the Federal Ministry of Agriculture and Food Security disclosed that the NAGS-AP project would leverage digital technology. The ministry has already geolocated and registered over 250,000 farmers, emphasizing an ICT-driven implementation approach.

“The implementation is ICT-driven with earlier steps taken to geo-locate farmlands, enumerate, register, and cluster no fewer than 250,000 farmers,” the statement clarified.

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