Farmilife TV on NTA 10 with Toheeb Azeez | Farming in Nigeria - Prospects & Challenges | скачать в хорошем качестве

Farmilife TV on NTA 10 with Toheeb Azeez | Farming in Nigeria - Prospects & Challenges |

At the interview on Farmlife TV on NTA 10, to unleash growth of the Nigerian agriculture and promote food security I stressed the need to significantly raise agriculture budget. Nigeria’s budgetary allocation to agriculture in 2024 grew by 55.9% from previous year (thanks to increased national budget) but saw a 0.21% decrease in proportional share of national budget and with recurrent expenditure taking 30.4%. Also, the the agriculture allocation is just 1.2% and fails to meet a 10% proportion of national budget to drive growth recommended at the Maputo declaration by African states. Fund is one of the leading constraints holding the sector back; the nation’s agriculture sector currently suffers a $9bn funding gap despite its importance. Agriculture has not only proven to be efficient with allocations but also productive, giving multiple returns per investment. In 2024, it generated $93.75bn (179 folds) in revenue that contributed 25% of Nigeria’s GDP from a $523m allocation which was among the lowest sectoral allocations. Now imagine what it could do with an increase not just in sum but also percentage allocation and in line with the recommended, and complemented with thoughtful and result-oriented disbursement? I also advised the need for states to leveraging their strength which helps to address food insecurity in individual states, corroborate federal government’s effort, and reduce pressure at the centre.