FGN plans 50% agric subsidy

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There are plans by the Federal Government of Nigeria to subsidies agriculture by 50% in the 2023/2024 dry season farming.

The plan was disclosed by Abubakar Kyari, the Minister of Agriculture and Food Security a statement to flag off the 2023/2024 dry season farming on its website.

The move is in line with the actualisation of the present administration’s “Renewed Hope Agenda” for Nigeria and part of measures to combat food inflation in the country.

Kyari noted that the subsidy will cut across a wide range of agricultural inputs.that would include seeds, fertiliser, herbicides and pesticides that would be delivered to farmers.

He revealed that the African Development Bank (AfDB) supports the 2023/2024 dry season farming as it is being implemented under the National Agricultural Growth Scheme and Agro-Pocket (NAGS-AP) project.

Recall that President Bola Ahmed Tinubu had stated that his administration would not continue with payment of fuel subsidy after his inauguration in May.

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