Private Investment in Agriculture Hits N80b, Says Jonathan

Nigeria’s agriculture sector has received more than N80 billion (US $495 million) in investments from the private sector, according to Nigerian President Goodluck Jonathan.

Jonathan noted that 1.5 million farmers are benefiting from an e-wallet voucher system in which farmers can receive electronic vouchers via mobile phones for subsidized fertilizers and other inputs that are redeemed directly from private seed and fertilizer companies. IFDC has been implementing a fertilizer voucher program in Nigeria since 2008 and began serving as lead supply chain manager for the e-wallet program in 2013.

To decrease the amount of wheat imported into the country, the government has encouraged the use of high-quality cassava flour to replace imported wheat flour.

According to Jonathan, “There is no reason why Nigeria should be a net food importing country. It should be a net food exporting country.”

Read the full article from WorldStage News.

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