What's Happening?
Dr. Philips Nto, Director of the Agribusiness Incubation Centre at Michael Okpara University of Agriculture, has called for increased government funding for agriculture in the 2026 budget. He emphasized the importance of prioritizing agriculture to enhance food security and improve economic prosperity for farmers. Dr. Nto highlighted the need for increased budgetary allocations to support agricultural yields and value addition. He also advocated for the revival of agricultural extension services and the provision of subsidies to genuine farmers. Dr. Nto proposed the establishment of industrial agro-hubs in all local government areas, tailored to the crops grown in each region, to ensure sustainable food security.
Why It's Important?
The call for increased agricultural funding is significant as it addresses the critical issue of food security in Nigeria. By prioritizing agriculture, the government can enhance the sector's contribution to the economy, reduce post-harvest losses, and improve farmers' livelihoods. The proposed agro-hubs could lead to increased food production and value addition, benefiting local economies and reducing dependency on food imports. This initiative aligns with the broader goal of economic diversification and sustainable development. The emphasis on agricultural extension services and subsidies could also empower rural farmers with new techniques and resources, fostering innovation and resilience in the sector.
What's Next?
If the government heeds Dr. Nto's recommendations, the next steps would involve allocating more funds to agriculture in the upcoming budget. This could include setting up the proposed agro-hubs and reviving extension services. The government may also need to engage with stakeholders, including local governments and farmers, to ensure effective implementation. Monitoring and evaluation mechanisms would be crucial to assess the impact of these initiatives on food security and economic growth. Additionally, the integration of tax reforms to support agricultural funding could be explored to ensure sustainable financial backing for these projects.
