The Federal Government has renewed its commitment to promoting sustainable agriculture and agribusiness with a range of incentives designed to encourage robust private sector participation.
This commitment was affirmed by the Minister of Agriculture, Abubakar Kyari, at the third Agribusiness Roundtable Conference held in Uyo, themed “Uyo 2024: Unlocking Agribusiness Opportunities for Economic Sustainability.”
In his address, Kyari explained that the government has structured investment incentives to foster a stable economic environment for agriculture, which include tax holidays, exemptions, and reliefs aimed at attracting both local and international investors.
“One of the cardinal reforms in the agricultural sector is making agriculture a business away from the primordial approach of being a development programme,” he stated, emphasizing a shift towards commercializing agriculture.
Kyari further highlighted the administration’s dedication to enhancing agriculture value chains, particularly in areas where Nigeria holds a competitive advantage.
This, he noted, aligns with President Bola Tinubu’s vision for an agricultural revolution, following the recent declaration of a state of emergency on food security.
He stated, “We are improving the agriculture value chains to unlock value for our farmers with a special focus on areas in which we have a comparative advantage.”
The Minister reiterated that the government is working closely with states and private sector organizations to equip youth and women with technical, entrepreneurial, and marketing skills.
He expressed optimism that the conference would open new opportunities to bolster the agribusiness sector, contributing to food security, job creation, and economic diversification.
State Commissioner for Trade and Investment, John Etim, commended the federal government’s efforts, noting that the state’s Arise Agenda prioritizes agriculture as a key element in the economic development blueprint, enhancing the state’s growth and value addition in agriculture.
