News in brief: The Federal Ministry of Agriculture and Food Security will receive â¦200 billion from the â¦2.17 trillion supplementary budget, to support farmers and improve food availability and affordability, closely aligning with the 10% goal from the Maputo Declaration.
The Federal Ministry of Agriculture and Food Security will receive â¦200 billion (or 9.22%) from the â¦2.17 trillion supplementary budget announced by the Tinubu administration to support farmers and increase food availability and affordability.
This percentage is close to the 10% suggested by the Maputo Declaration of 2003 for African nations that want to improve their agriculture sector, which is encouraging.
It is important to note that this supplementary budget is additional funding is being used to cover the costs and other urgent expenses that the government deem important and cannot wait for the next fiscal year’s (which begins on January 1st and ends on December 31st) budget.
Allocation breakdowns show that provision for dry season farming for an additional 80,000 hectares of land to the national agricultural growth programme received â¦25 billion. This money targets production of wheat, maize, rice, and cassava as well as purchasing inputs for the next rainy season.
The government is also allocating â¦11.7 billion to each of the six geopolotical zones of the country for seedlings and other agricultural inputs and supplies. Another â¦11.7 billion is going to these zones to provide agricultural implements and infrastructures for farmers.
The Tinubu administration allocated â¦25.5 billion to restocking the national reserves with 150,000MT of assorted food commodities and their associated components. Meanwhile, the ministry is getting â¦9.1 billion to combat athrax and other trans-boundary pests that can cause famine.
Besides agriculture, which is viewed as a way to ensure people can afford food, the government also earmarked â¦400 billion for cash transfers to 15 million households to help mitigate hardships.
