NGO tells States to harness N5.4t Agric opportunity

* Minister assures foods price decline 

A prominent Non-Governmental Organization ( NGO) in the agricultural sector has said that the states in Nigeria can conveniently make close to N5.5 trillion profits through strategic investments in the critical areas of the food value chains, just as the Minister, Sen. Abubarka Kyari promised to ensure continuous food prices decline in the country.

These statements were made at the 47th National Council on Agriculture and Food Security Meeting where both the representatives of the FG and states are told the need to harness the potential investment in some critical areas of the sector for the purpose of a robust economy with income and job creation.

Speaking on a subject " Political Economy Analysis on Agriculture Budget Investments: Resultant Effects on States' Internally Generated Revenue ( IGR) and Employment Generation for 2025", the ActionAids Nigeria food systems specialist, Mr. Azubike Nwokoye pointed out that the government had a lot to gain economically through investment in critical areas of the food value chains system adding that the thirty seven states of the federation can jointly make N5.4tr with investment of N15b annually.

The food specialist argued that his organization's position of making huge profits through investment in critical areas of agriculture was based on a survey that confirmed profit potential through investment in some strategic areas of the sector which majority states government have refused to harness.

Nwokoye said that " We carried out this analysis to demonstrate to politicians, policy makers and governors that putting money into agriculture is an investment, not just expenditure.

The food specialist emphasized that most Nigerian states allocated minimal funding to agriculture, particularly in the capital components of their budgets, saying this stingy approach has slowed progress in food productivity nationwide.

Azubike posited that states must strategically invest more in agriculture for development to happen, pointing out that " It’s clear that for states to make meaningful progress, they must allocate and spend in critical areas of agriculture. This includes access to credit, extension services, support for women and youth in agriculture, labour-saving technologies, inputs, post-harvest loss reduction, and market access."

He further highlighted areas such as processing and storage facilities, rural transportation, irrigation, climate-resilient farming, nutrition, research and development, and effective monitoring and evaluation as priority areas.

Meanwhile, the Minister of Agriculture and Food Security, Sen. Abubarka Kyari has promised Nigerians more decline in food prices, saying efforts would be galvanized towards ensuring it.

Sen. Kyari attributed the prices decline in foods to the deliberate investments by the government to ensure more availability and affordability through President Tinubu determination to achieve food sovereignty in the country as he declared state of emergency on the sector as the farmers are empowered with agro inputs in collaboration with the African Development Bank and state government.

The minister promised food security with price stability, saying that " To strengthen national food security and stabilize prices, we are enhancing efficiency across the nation's silos operations to ensure timely intervention.