President Tinubu’s resolute commitment to Nigeria’s agricultural and transportation sectors is set to usher in a new era of prosperity. With a visionary pledge of ₦75 billion, the President aims to revitalize these essential sectors, secure food security, and drive sustainable and eco-friendly transportation solutions. This strategic investment is poised to create a ripple effect across the nation, encouraging agricultural productivity and providing improved mobility for both rural and urban communities.
The resounding pledge of ₦75 billion by President Tinubu demonstrates the government’s steady support for Nigeria’s agricultural sector. This crucial investment seeks to optimize farming practices, secure food security, and stimulate economic growth in rural areas.
As part of the agricultural plan, 200,000 MT of grains will be released from strategic reserves to households across all 36 States and the FCT. This move aims to stabilize food prices and ensure a steady supply of essential commodities for citizens, particularly during challenging times.
Further strengthening the farming community, President Tinubu’s initiative will provide 225,000 MT of fertilizer, seedlings, and other inputs to farmers committed to the nation’s food security agenda. By supporting farmers with the necessary resources, the government seeks to enhance agricultural productivity and promote sustainable farming practices.
The cultivation of 500,000 hectares of farmland and year-round farming practice remain at the heart of the government’s agricultural agenda. This long-term strategy aims to optimize land usage, increase crop yields, and reduce dependency on seasonal farming.
Additionally, a significant portion of the ₦75 billion investment, ₦50 billion, will be allocated to cultivate 150,000 hectares each of rice and maize, while another ₦50 billion will be dedicated to cultivating 100,000 hectares of wheat and cassava. These targeted funding initiatives aim to ensure the country’s self-sufficiency in these essential food crops, fostering economic growth while reducing import dependency.
The President’s forward-looking vision extends to the transportation sector, with an allocation of ₦100 billion to acquire 3,000 units of 20-seater CNG-fuelled buses. This strategic investment in eco-friendly transportation solutions aims to reduce carbon emissions, alleviate traffic congestion, and improve mobility for both rural and urban communities.
Transport companies are set to benefit from this initiative, as they will have access to credit with a favorable 9% interest rate and a 60-month repayment period. This provision facilitates a seamless transition to more sustainable transportation options, contributing to Nigeria’s commitment to environmental stewardship.
The ₦75 billion investment in the agricultural and transportation sectors sends a clear message of the government’s dedication to the welfare and progress of its citizens. By fostering sustainable agricultural practices and embracing eco-friendly transportation solutions, Nigeria is poised for a more resilient, prosperous, and environmentally conscious future.
