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Nigeria earns N777bn from agric interventions

The Minister of Agriculture, Dr. Akinwumi Adesina, has said that Nigeria gained N777 billion from various intervention programmes in the agricultural sector in 2014.
Adesina made this known on Thursday in Abuja while briefing members of the Senate Committee on Agriculture on the performance of the ministry’s budget in 2014. He said the money went to the rural economy of the nation as many local farmers benefitted from the interventions and were currently performing well in their farms.
The minister, who also defended the ministry’s 2015 budget before the committee, announced that a crop insurance scheme for farmers in the country was on the way. He said that no fewer than five million farmers would benefit from the programme, explaining that it was intended to build the confidence of farmers and encourage more people to farm. “The main economic value of all the interventions that were done on rice, maize, sorghum, wheat, soy beans, cassava and others added N777 billion worth of income back into our rural economy.
“This has helped to create significant amount of wealth for our farmers in the country. “As you know, we added about 21 million metric tonnes of food to the domestic food supply and that goes all over from rice to maize, cassava, sorghum, and to soy beans. “All of that has added an average of N777 billion of revenue back into the economy; that is money going back into the hands of farmers and communities,’’ he said.

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