Nigerian has the capacity to boost her food production to feed its citizen and indeed the entire world, given its fertile land and suitable weather conditions.
However this objective can only be achieved through sustained commitments to the on-going reforms towards increased private sector investment in Agriculture.
Additionally, there is the need for land reforms to increase access to land for mechanized farming.
This was disclosed at the weekend in Abuja by the Managing Director/Chief Executive Officer, Nigerian Export Import Bank, NEXIM, Mr. Roberts U. Orya at the Forum: Business Talk in Summer.
He said Government also needs to step up Agricultural Extension services to disseminate and educate farmers on new findings on improved production technology, in addition to ensuring access to production inputs.
“DFIs with focus on the Agric. Sector should be strengthened, while more Intervention Funds should be established to support targeted products. Already, government has identified some key products to replace oil as major revenue earners for the country, including Palm Oil, Cocoa, Cashew, Sugar & Rice.
“Finally, there is need to enhance private investment through suitable incentive measures (tax and other fiscal measures),” the NEXIM boss added.
Mr. Orya explained that NEXIM was established in 1991 by an Act of Parliament with the main mandate of diversifying the economy and deepening the non-oil export sector through finance and risk bearing services.
In this regards, he said NEXIM’s intervention places a lot of emphasis on the Agriculture sector.
“Hence the Bank over the years has disbursed N31.45 billion in support of export projects in the Agric sector, thus generating/sustaining 18,870 jobs direct jobs in addition to many indirect jobs and facilitating inflow of US$ 199.54 million in foreign exchange generation.
“The Bank is also working with other government agencies to educate exporters on the issue of quality/packaging standards for Agricultural commodities,” Mr. Orya further stated.

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