The unrelenting efforts of the President Muhammadu Buhari administration towards making Nigeria less dependent on importation of agricultural products is yielding huge dividends.
According to the Buhari Media Organisation (BMO), prior to the administration of President Muhammadu Buhari, the country was spending about $5 million on importation of food items, but following the proactive measures enunciated by the administration in the sector, especially the Anchor Borrowers Programme, the figure has dropped to about $1.8 Billion.
In a statement signed by its Chairman Niyi Akinsiju and Secretary Cassidy Madueke, BMO noted that among other agricultural products being promoted for cultivation in the country, rice, which is a major staple, has become the major driver. From five rice mills in the country prior to President Buhari’s emergence, Nigeria can now boast of about 100 rice mills producing at full capacity.
“The Buhari Media Organisation notes further that the Anchor Borrowers Programme, a major initiative of the present administration, has significantly raised the aggregate output in the agricultural sector. Specifically, the Central Bank of Nigeria (CBN) has released reports showing that the total output of the agricultural sector rose from N19.5tn in 2015 to N37.3tn in 2020 indicating a 91.2 percent increase.
“Similarly, from available records, between 2015 and 2016, aggregate output in the sector rose from N19.5tn to N21.4tn in 2017, N27.4tn in2018 and N31.8tn in 2019. According to the CBN, during the review period, sub-activities of the agricultural sector which the Anchor Borrowers Programme focuses on, e.g crop production and livestock, recorded a rise in economic performance.
“Between 2017 and 2020, crop production in the country recorded an increase of about N12.1tn from N27.1tn in 2017 to N38.2tn, while livestock production increased from N1.9tn to N4.1tn, showing an increase of N2Billion.
“Nigerian should also note that since the Buhari administration came into office the country has consistently witnessed a progression in agricultural activities and outputs, and the credit goes to the President who envisioned that Nigeria must be self-sufficient in food production”, the statement added.
