- The federal government has purposefully designed agricultural investment incentives to foster a stable and viable economic environment
The federal government has emphasised that sustainable agriculture is possible in Nigeria, reaffirming its commitment to assisting the agribusiness sector through a variety of incentives to encourage strong private participation.
The Minister of Agriculture, Abubakar Kyari, gave this assurance on Monday at the opening ceremony of the third Agribusiness Roundtable Conference in Uyo, Akwa Ibom State.
He explained that the federal government has purposefully designed agricultural investment incentives to foster a stable and viable economic environment for both domestic and international investment.
Kyari noted that these incentives include tax holidays, exemptions, and reliefs, as well as others that rely on specific government policies, company performance, and relevant international investment treaties.
“One of the cardinal reforms in the agricultural sector is making agriculture a business away from the primordial approach of beings a development programme.
”We are improving the agriculture value chains to unlock value for our farmers with special focus on areas in which we have comparative advantage.
He said the conference was apt and in line with vision of President Bola Tinubu who declared a state of emergency on food security geared towards an agricultural revolution that would strengthen food and nutrition security and encourage industrialization for wealth and job creation.
”We are resolute to deliver enabling policies and programmes in line with the ministry’s deliverables assigned by President Tinubu that would ensure Nigerians are good secured.”
He said the federal government was committed to working with relevant stakeholders to build agriculture and agribusiness economy capable of delivering sustained property and meeting the domestic food and nutrition security goals, generating wealth and job creation and private investment.
He however explained that the federal government was working with states and the Organized Private Sectors to support youth and women with access to technical, entrepreneurial, business and marketing skills.
He expressed the hope that the conference would spur ample opportunities to strengthen the agribusiness sector and would contribute to the desired growth that would guarantee ood security, employment generation and diversification for transformation of the nation’s economy for nation security.
In his welcome address, the Akwa Ibom State commissioner for trade investment, John Etim highlighted the state government’s investment in agriculture adding that the Arise Agenda, the economic blueprint of the state government has added value to the development of the state with top priority in agriculture.
The theme of the three-day conference tagged ‘Uyo 2024’ is unlocking agribusiness opportunities for economic sustainability and is being attended stakeholders in the agriculture sector including banks, financial institutions, farmers and private sector operators.
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