FG Urged To Use $5.6b Private Sector Agric Investment For Infrastructure | Independent Newspapers Limited
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FG Urged To Use $5.6b Private Sector Agric Investment For Infrastructure

Posted: Jul 22, 2015 at 12:25 am   /   by   /   comments (0)

By Chibuzor Emejor,  Abuja


National Co-ordinator of Micro Reforms for African Agribusiness (MIRA), Dr. Tony Bello, has urged the Federal Government to leverage on the $5.6billion private sector investment commitments in the agricultural sector under the Agricultural Transformation Agenda to provide infrastructure for the development of agribusiness in Nigeria.

Bello, who made the call at a  stakeholders consultative workshop on the ‘Micro Reforms for African Agribusiness in Nigeria’ in Abuja on Tuesday, said if the Federal Government fails to remove bottlenecks and impediments militating agribusinesses in the country, investment commitments  by the private sector would not be realised.

It would be recalled that the Federal Government through the Agricultural Transformation Agenda [ATA] of the immediate past administration of President Goodluck Jonathan attracted over $5.6 billion of private sector investments into agricultural sector in the past four years.

Bello, who is also an agribusiness expert, identified   infrastructural deficit, affordable financing, security of supply of raw materials, inconsistent government policies and regulations, and inadequate human capital development as some of the constraints militating against agribusinesses in Nigeria.

Commenting on the launch of MIRA in Nigeria, he explained that the new initiative which is being implemented by Alliance for a Green Revolution in Africa (AGRA) was designed to provide “African governments with access to high quality local and international technical assistance for identifying, prioritising and reforming specific agricultural regulations currently limiting private sector investment in small and medium size agribusinesses operating in smallholder agricultural value chains.”

Also speaking, the Permanent Secretary in the Federal Ministry of Agriculture and Rural Development, Sonny Echono, underscored the need to focus on fixing the agricultural value chains through targeted public-private investments to improve agricultural supply chain and logistics, food processing, access to affordable financing and building market linkages.