On Wednesday, March 24, 2021, the Nigerian Senate passed for third reading the Agric development fund Bill.
This bill presented by the Chairman, Senate Committee on Agriculture and Rural Development, Senator Abdullahi Adamu titled: “National Agricultural Development Fund (Establishment) Bill, 2021” is geared towards garnering financial support for strategic aspects of agricultural development of Nigeria.
Senator Abdullahi Adamu stated that it was common knowledge that inadequate financing was a major problem in agricultural sector in Nigeria and Sub-Saharan Africa.
“To date, Nigeria is yet to fully implement the 2003 Maputo declaration on Agriculture requiring states, parties to allocate ten per cent of its national budget for agricultural development.
“If this was done, agriculture research and development, food production and food security would have witnessed a major leap,” he said.
The lawmaker also said that the aim of the bill is to promote and provide for finance to support agriculture development in the country in order to ensure food production and food security in Nigeria.
Photo Credit: Wikipedia.