• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, August 29, 2025
  • 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 Agriculture

Stakeholders fault 2024 proposed agriculture budget of N363bn

Agriculture

The Matters Press by The Matters Press
December 17, 2023
Reading Time: 2 mins read
0
Vulnerable Nigerian farmers to get $1m grant

Abuja, Dec.17, 2023: ActionAid Nigeria (AAN), Small-Scale Women Farmers Organisation in Nigeria (SWOFON) and other stakeholders in agriculture sector have faulted the 2024 proposed agriculture budget of N362.9 billion.

RELATED POSTS

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

Tinubu succeeding where Obasanjo failed woefully, says TMSG

The groups expressed their views at a joint news conference to analyse the proposed 2024 agricultural sector’s budget on Saturday in Abuja.

Other stakeholders included ONE and the Comprehensive Africa Agriculture Development Programme (CAADP) and Non State Actors Coalition (CNC).

They described the total budget of N362.9 billion for the agriculture sector as very low adding that the amount or the figure represented only 1.32per cent of the total Federal Government budget

They emphasised that enough support for the agriculture sector needed to be prioritised in the national budget being the sector that had the most potential to change the economy and employ the hordes of young people.

Azubike Nwokoye, Programme Manager, Food and Agriculture, AAN, said that the agriculture needed to be prioritised in the national budget being sector that had most potential to change the economy and employ the hordes of young people.

“The budget allocated to the agriculture sector has not exceeded two per cent of the overall budget for the past seven years.

“Nonetheless, actual data has not demonstrated that a sector’s production in terms of social benefit to the society increases with the amount of resources allocated to it,’’ he said.

Nwokoye said that the real value or purchasing power of agricultural sector’s budget in 2024 was N285 billion with the set inflation rate of 21.4 per cent.

He noted that though N362.9 billion was budgeted for the sector all things being equal, the budget amount would depreciate by at least N77.7billion.

According to him, the gap of N77.7 billion needs to be filled either by providing additional budgetary resources or reducing inflation to the barest minimum in order to achieve the desired investment impact in monetary term.

On her part, Mrs Mercy Nnanna, Secretary, SWOFON FCT Chapter, said the conference was to x-ray how the sector was funded and positioned for growth, employment creation, domestic food requirements and export promotion of quality processed agricultural commodities.

“The focus is on budget adequacy and alignment with the CAADP framework; how the budget addresses the concerns of smallholder farmers, women and youths, allocations for agricultural components such as irrigation, climate resilience and sustainable agriculture and value chain development.

“It also focuses on access to credit, extension services, post-harvest loss reduction supports, among others,” she said.

Tags: Agriculture
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Nigeria regains top crude oil production spot in Africa
Energy

‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals

August 28, 2025
Who is lying, Obasanjo or NAN?
News

‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient

August 28, 2025
Obasanjo campaigns for AfCFTA
News

Tinubu succeeding where Obasanjo failed woefully, says TMSG

August 28, 2025
Tinubu explains mission as he marks second year in office
Economy/Technology

‎Tinubu in fresh ideas to grassroots-development using 8,809 wards initiative – TMSG ‎

August 9, 2025
Obi, PDP candidate advises Buhari to increase tempo
Economy/Technology

‎Obi’s One-Term Proposal, a gambit to grab power at all costs -Group ‎

August 7, 2025
Importers face delays, higher costs on Red Sea woes
Economy/Technology

National Single Window initiative, a major step for efficient cross-border trade – TMSG

August 4, 2025
Next Post
Global trade’ll grow to $30tn by 2030

Côte d’Ivoire-Nigeria trade volume hits $1.5bn – Envoy

CAC, Pakistani investors on economic diversification

CAC advises public on business registration

Recommended Stories

BOI wins award for $1bn syndicated term loan facility

Bank of Industry creates 9m jobs

March 31, 2022
Minister directs NSITF to re-adjust staff salaries

Minister directs NSITF to re-adjust staff salaries

January 24, 2022
CIIN president tasks Insurance directors on manpower development

Insurance firm pays N7.59bn claims in 2021

February 23, 2022

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
  • NCC sets fresh operational fees, spectrum prices for telecom operators

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

    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

  • ‎TMSG welcomes halt in oil theft on pipelines taking crude to export terminals
  • ‎Group dismisses Obasanjo’s labelling of Tinubu’s administration as inefficient
  • Tinubu succeeding where Obasanjo failed woefully, says TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

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

© 2025 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