• Privacy Policy
  • Terms
  • About us
  • Contact Us
Monday, February 6, 2023
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

Nigeria to allocate $200m for creation of agricultural service centres

The Matters Press by The Matters Press
November 18, 2021
Reading Time: 3 mins read
0
Nigeria to allocate $200m for creation of agricultural service centres


Vice President Yemi Osinbajo says the Federal Government of Nigeria is to allocate $200 million for the creation of 780 Agricultural Service Centres to serve as catalysts for training and equipment sharing, under the Nigeria-Brazil bilateral development programme.

RELATED POSTS

NECA fears further crashing of fragile economy

Ministry, ICRC in talks to revitalise FG’s properties abroad

FCT residents allege banks’ hoarding, selling of banknotes

The Vice president, who was represented by the Secretary of the Federation, Mr Boss Mustapha, said this at the 4th 2021 Nigerian Diaspora Investment Summit (NDIS21) held at the Congress Hall, the Presidential Villa, in Abuja.

The summit was organised by the Nigerians in the Diaspora Commission (NiDCOM), in collaboration with the Federal Government and the Nigeria Diaspora Summit Initiative (NDSI), under the theme: “Partnership and linkages for post-COVID economic growth”.

He said that the Federal Government had designed a programme to transform agriculture and scale up productivity in Nigeria called the Green Imperative Nigeria-Brazil Bilateral Development Programme.

ALSO READ  AfDB approves $134m loan for Nigeria’s agricultural scheme

It was designed to sustain the economy through the use of Brazilian technology for the development of agricultural mechanisation that would make farming a dignified venture for the Nigerian people and ultimately increase agricultural production and boost food security, Osinbajo said.

He noted that the solution offered Nigeria the connection of the agricultural value chains, through an initial investment package worth $100 billion dollars, set by the governments of Brazil and Nigeria, to be used for the improvement of overall infrastructure in Nigeria’s rural areas.

The key objective, he added, was to scale up the country’s agriculture, through close collaboration between Nigerian and Brazilian industries, for the delivery and use of technology to improve crops.

Osinbajo said that the Green Imperative was still in its early stages of implementation to deliver any outcomes expected from the active and engaged participation of both countries, through their respective Ministries of Foreign Affairs, Agriculture and Finance.

ALSO READ  44 nations in Africa free trade deal

“The Green Imperative is part of the foreign agenda of both countries, thus representing a worthy cooperation initiative for a duration of 10 years with long term goals for food security, expanded job growth and, ultimately boost food production and household incomes in Nigeria.

“The project will have over two phases of implementation. The first phase will be the allocation of over $200 million dollars for the creation of around 780 Agricultural Service Centres as catalysts for training and equipment sharing.

“While the second phase will be technology transfer from Brazil to Nigeria via the commercialisation of agricultural equipment and inputs such as tractors, planters, seeders, fertilisers and pesticides.

“This programme will provide another veritable avenue for investments and engagement by the Diaspora for sustainable outcomes. Recovering the economy of the nation cannot be achieved by the government alone.

“We need the partnership and deep involvement of the Diaspora and foreign investors, among others, investing in local businesses to boost and diversify the economy,” he said.

ALSO READ  CBN's visionary intervention in agriculture

Osinbajo added that the administration came to the realisation that it needed to drive support for the NDSI, as its clarion call to the Diaspora and their friends to come and invest in a land of boundless opportunities and possibilities like the Chinese, Indians, Lebanese, Israelis and South Africans were already and successfully doing here in Nigeria.

He cited last year’s summit when the Federal Government witnessed a number of Diaspora investors heeding that call and that it was encouraging to note that even more had turned up this year.

“We assure you of our commitment to ensure that your investments are not only secure, but that you get a good rate of return on the investments you make, while basking in the glow of being contributors to the growth of business and development of the nation,” Osinbajo said.

Tags: Agriculture
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

NECA on how to address Nigeria’s economic challenges
Economy/Technology

NECA fears further crashing of fragile economy

February 6, 2023
Nigeria moves to review ICRC Act
Economy/Technology

Ministry, ICRC in talks to revitalise FG’s properties abroad

February 6, 2023
Experts validate Nigeria’s implementation strategies for success under AfCFTA
Economy/Technology

FCT residents allege banks’ hoarding, selling of banknotes

February 6, 2023
New Naira notes unavailable even as CBN campaigns for acceptance
Economy/Technology

Entrepreneurs count losses over scarcity of new Naira notes

February 6, 2023
Bids roll in for Ajaokuta Steel Company
Economy/Technology

Cash crunch crashes food prices

February 6, 2023
A transformed fertilizer market is needed in response to the food crisis in Africa
Economy/Technology

Foundation ready to sustain gains of PBR cowpea

February 6, 2023
Next Post
Fair exhibitors adopt strategies to boost sales

Cote d’Ivoire to host third edition of Intra-African Trade Fair in 2023

Kenya hits the globe for oil investment

Afreximbank, NNPC in $1.04bn oil exploration deal

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

July petrol pump price ranges between N140.80 and N143.80

IPMAN advises Nigerians against panic buying of petrol

January 29, 2022
Buhari cuts short his visit to London

Buhari cuts short his visit to London

November 16, 2019
Central Bank, MTN resolve crisis

MTN Nigeria gets approval for MOMO Payment Service Bank

November 6, 2021

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • NECA fears further crashing of fragile economy
  • Ministry, ICRC in talks to revitalise FG’s properties abroad
  • FCT residents allege banks’ hoarding, selling of banknotes

Categories

  • Economy/Technology
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2022 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2022 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?