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The Minister of Agriculture and Rural Development,
Chief Audu Ogbeh has said said the sudden crash of oil price in the
global market is a warning to the economy and the need for
diversification of the economy.Leadership Newspapers Reports.
He said as such now is the time for Nigeria to shift from petro dollars to agro dollars when he inaugurated the Technical Working Group of Agricultural Road map in Abuja, yesterday.
According to Ogbeh the fall of oil price means that Nigeria cannot continue to depend on oil but needs to diversify the economy through improvement on agricultural productivity.
He said “the sudden crash in oil price within the last one year is a warning signal to us as a country that we cannot afford to continue to depend on oil alone for our national revenue.”We have to diversify, and that diversification holds a lot of promises through agriculture”.
Chief Ogbeh however said that road-map was intended to be a strategy document to illuminate the path towards a successful journey on the way to restoring agriculture to its pride of place as a nation.
“We need to fashion out how to liberate Nigeria from the stranglehold of food importation. We need to deliberate on how our states would get down to the work on food production for the teeming population that might soon hit 200 million.
“With our foreign reserve at less than US$30 billion, the government, realistically, cannot afford to encourage more importation of foods, particularly those we have the comparative advantage to produce in-country.
“We will sit idly and watch our agricultural resources waste away. Our reforms will address the labour composition in agriculture”, he added.
The Minister said that the ministry will help states to produce food by collaborating other ministries, departments and agencies.
He further stated that the ministry is currently working with the commercial banks to lower their interest rate on agricultural lending to single digits.
“We will create jobs through the various commodity value chains and we will deploy technologies that will help boost productivity in terms of yields per hectare on the field, quality products after processing and guaranteed minimum price for producers at the markets.
“Our farmers will no longer be vulnerable in the market place. Make no mistakes, these tasks are highly demanding. But we are assured of success in them all”, he stated.
The Technical Working Group of Agricultural road map inaugurated by the minister include, climate change programmes, project and coordination, farmers access to input.
He said as such now is the time for Nigeria to shift from petro dollars to agro dollars when he inaugurated the Technical Working Group of Agricultural Road map in Abuja, yesterday.
According to Ogbeh the fall of oil price means that Nigeria cannot continue to depend on oil but needs to diversify the economy through improvement on agricultural productivity.
He said “the sudden crash in oil price within the last one year is a warning signal to us as a country that we cannot afford to continue to depend on oil alone for our national revenue.”We have to diversify, and that diversification holds a lot of promises through agriculture”.
Chief Ogbeh however said that road-map was intended to be a strategy document to illuminate the path towards a successful journey on the way to restoring agriculture to its pride of place as a nation.
“We need to fashion out how to liberate Nigeria from the stranglehold of food importation. We need to deliberate on how our states would get down to the work on food production for the teeming population that might soon hit 200 million.
“With our foreign reserve at less than US$30 billion, the government, realistically, cannot afford to encourage more importation of foods, particularly those we have the comparative advantage to produce in-country.
“We will sit idly and watch our agricultural resources waste away. Our reforms will address the labour composition in agriculture”, he added.
The Minister said that the ministry will help states to produce food by collaborating other ministries, departments and agencies.
He further stated that the ministry is currently working with the commercial banks to lower their interest rate on agricultural lending to single digits.
“We will create jobs through the various commodity value chains and we will deploy technologies that will help boost productivity in terms of yields per hectare on the field, quality products after processing and guaranteed minimum price for producers at the markets.
“Our farmers will no longer be vulnerable in the market place. Make no mistakes, these tasks are highly demanding. But we are assured of success in them all”, he stated.
The Technical Working Group of Agricultural road map inaugurated by the minister include, climate change programmes, project and coordination, farmers access to input.
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