From Our Correspondent
Vice-President Kashim Shettima has implored governors to revamp Nigeria’s agricultural sector so as to reduce dependence on food imports and attain food self-sufficiency.
Shettima made the call during the 137th meeting of the National Economic Council (NEC), on Thursday, in Abuja.
The Vice-President is Chairman of the NEC, a statutory body with the mandate to advise the President on the nation’s economic affairs.
TheNewsZenith reports that NEC has the 36 State governors of the federation, the CBN governor, the Minister of Finance and other stakeholders as members.
“Our upcoming task must be rooted in recognising the agrarian nature of our economy.
“We must strive for deliberate value addition in the agricultural sector, moving away from commodity exports towards job creation.
“Collaboration is vital in enabling the Specialised Agro Processing Zones (SAPZ) Programme, in partnership with the Africa Development Bank (AfDB),” Shettima said.
The Ministry of Agriculture and Rural Development spearheads the SAPZ.
He noted that the Federal Government needed to develop its agricultural sector towards self-sufficiency and export processed agricultural products.
This, he pointed out, is in line with the African Union’s Africa 2063 Agenda.
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“This also aligns with AfDB’s investments and commitment to establishing the SAPZ.
“Collaboratively, we should harness our agricultural comparative and complementary advantages across the value chains of priority crops within the SAPZ.”
The Vice-President hinted at the possibility of engaging the private sector to tackle floods and other natural disasters.
Considering the financial implications of managing natural disasters, he said the government could not do it alone.
“I am aware of the financial implications of managing natural disasters. We cannot tackle this alone.
“Innovative capital pools from the private sector can help share and mitigate fiscal and economic risks posed by such disasters.
“This approach has been successful in other African countries, preparing for low-probability yet highly disruptive ‘black swan’ events.
Shettima also told members of the Council to get involved in seeking both short-term palliatives and enduring solutions to the consequences of reforms.
The meeting also examined the country’s accounts.
According to the meeting, the Excess Crude Account (ECA) as of September 2023 stands at $473,754.57 and Stabilisation at N37,597,965,211.4.
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The current Balance of Natural Resources is at N144,683,136,928.25.
Minister of Agriculture and Food Security, Abubakar Kyari presented a memo on the Special Agro-Industrial Processing Zone (SAPZ) Programme.
The memo focused on the Federal Ministry of Agriculture and Food Security in partnership with AfDB, International Fund for Agricultural Development (IFAD), Islamic Development Bank (IsDB) and State Governments.
Others are the private investors – Assisted Special Agro-Industrial Processing Zone (SAPZ) Programme.
Seven states of Cross River, Kaduna, Kano, Kwara, Imo, Oyo and Ogun with the Federal Capital Territory (FCT) are participating in the first phase. It has a five-year development plan.
The objective of the programme is to support inclusive and sustainable agro-industrial development in Nigeria.
This is to diversify Nigeria’s economy through agriculture and reduction of food import bills.
Shettima noted that the commitment and determination of each state government will determine the selection of states for the next phase of the SAPZ programme.
He said the Minister of Finance would release N20 billion for the project under a public-private partnership scheme.
He, therefore, urged state governments to maximise the benefits of the opportunities created by multilateral organisations. Nigerians are heading some of them, like the African Development Bank and AFREXIM Bank.
He also called for a weekly comprehensive report on the SAPZ programme from the Ministry of Agriculture.
He said that he would personally supervise the implementation of the scheme.
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