Nigerian President promises 93% reduction in cost of agric inputs

President Bola Tinubu has directed a groundbreaking 93% reduction in the cost of agricultural inputs to bolster food security across the nation. This piece of information was given by the Senior Special Adviser to the President on Food Security; Yejide Ogundipe during the inauguration of state coordinators for the Nigerian Women for Agricultural Progress (NWAP) in Abuja.

Highlighting the government’s dedication to supporting farmers, Ogundipe attributed the current food crisis to banditry and revealed plans to subsidise essential agricultural inputs by 93%. She explained that if a bag of fertilizer costs N100, farmers would only be required to pay N7, with the government covering the remaining N93. Ogundipe further said that food insecurity is all over the world, but that banditry had only made things worse in Nigeria. The presidential aide underscored the administration’s commitment to expanding farmers’ capacity to cultivate key staples like rice, maize, cassava, and wheat nationwide.

A renowned expert in agricultural economics from the Federal University of Technology (FUT), Minna, Niger State, Prof. Faith Ibrahim, stressed the need for inclusive agriculture for women. Ibrahim noted that women farmers contribute significantly, accounting for about 70% to 80% of Nigeria’s food production. Making a case for an enabling environment for the growth of women farmers, Ibrahim also advocated for single-digit loans tailored for women in agriculture, as she highlighted the potential for increased productivity with gender-friendly policy frameworks. This significant reduction is seen as a positive step towards easing financial burdens on farmers, enabling them to invest more in their agricultural activities. The commitment to supporting farmers and addressing the challenges faced, such as the impact of banditry on food security, would be welcomed by the agriculture sector.