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President Muhammodu Buhari has signed the National Assembly (NA) bill seeking the establishment of National Agricultural Development Fund (NADF) into an Act. This was contained in an official gazette of the Federal Republic of Nigeria published in October 30, 2022, with Number 192 and volume 109 that was certified by the clerk of the two houses, Mr. O.A Ojo.
By this presidential signature, the establishment of NADF has now been legally backed up by law to take off with constituted governing board members that will be headed by a chairman, and an Executive Secretary to see to the daily running of the organization.
Part of the way the new establishment will be funded by law includes derivation from 0.5% of natural development resources fund cum 5% of the duty levied on import rice, wheat, sugar, milk, poultry and fish.
Also the Federal, State and Local Government of the federation are to give take off grant, special intervention fund as such money must be appropriated to meet the object the Act establishing NADF by the National Assembly in the budget.
The NADF governing board shall consist of the chairman, and representative from federal Ministries of finance, budget, planning, and Federal Ministry of Agriculture and Rural Development (FMARD) with others from Federal Inland Revenue Service, All Farmers Association of Nigeria (AFAN) Livestock, Fisheries and Poultry Association, National Food Reserve Agency, Bankers Association of Nigeria, Agricultural Research Council of Nigeria, Federal Ministry for Science and Technology and one person from each of the six geo-political zone in a ration among the states.
Recalls in 27th July 2022 that the upper and lower houses of the National Assembly had approved the establishment of the National Agricultural Development Fund as financial intervention institution to support strategic aspect of the sector’s development towards meeting up with the inadequate funding of agriculture as prescribed by 2003 Muputodeclaration asking Government to allocate 10% of its national budget to Agriculture.
Indeed a very partriotic and honest approach to true agricultural revolution to archeive food security to the nation,PMB is a true partriot to this nation his name will remain fresh in the heart of true Nigerians for time immemorial.
ReplyDeleteI concur with you!
DeleteAdo Hassan yakasai
ReplyDeleteThis is marvelous
DeleteIt must not be allowed to be hijacked by non farmers
In deed PMB, has demonstrated in practical terms his commitments to the Agricultural sector of our Economy, without food no Nation,we recall he came in ,He launches Anchord Borrowers Program at Birnin Kebbi,Kebbi State,Anchord Borrowers Program, has changed the productions out put of farmers especially small holders that aggregates significantly to our Gross Domestic Products(GDP).
ReplyDeleteWe also recorded significant savings of Forex arising from reduction of importation of Rice Maize,Soya beans, fish,etc.....
Now,Baba is going and his parting Gift to Nigerian farmers is the signing of this Bill.NATIONAL AGRICULTURAL DEVELOPMENT FUND (NADF)
We say thank you Baba.
A big Congratulations to Nigerian farmers.
Hon. Dr. Bello Nuhu Dogondaji FCAI,FIMS.
Half of the job nearly accomplished.....the second half?....we wait to see go-getters of this fund to build their people. I just hope is not another nagge created for others to milk because they know themselves, what they want and how to get it. Not yet time to get excited for sure.
ReplyDeleteAgricultural Fund has been long overdue but for it to be among the parting gift surprises PMB is dashing out, farmers are thankful and will forever remember you.
ReplyDeleteFarmers associations should prepare to key into the fund and ensure efficient farming practices.
ReplyDeleteThis is the best initiative ever since the inception of this government thank you PMB
ReplyDeleteExcellent initiative, indeed! It's a very sustainable and legally backed initiative. May Allah SWT Continue to Bless our efforts and Guide us all always!
ReplyDeleteIndeed every exellent initiative, by good patriotic citizen PMB.
ReplyDeleteThat very good we thank GOD farmers will be engaged all the year round
ReplyDeleteMay Almighty God make us to benefit with it.
ReplyDeleteMay Allah continue to help PMB and the country Nigeria with her teaming populace. May Nigeria and her people continue to be great👍
ReplyDelete