This, he believes, will enhance food security, improve yields, and boost prosperity for farmers.
For Dr Nto “Agriculture plays a vital role in Nigeria’s economic development, contributing significantly to the GDP and employing a large portion of the population.
” Despite its importance, the sector has historically received inadequate funding, with the 2025 budget allocation standing at only 1.7% of the total budget.”
He argued that this falls short of the 10% target set by the Malabo Declaration.
Nto who spoke to newsmen in Umudike while conducting them around pilot farms of the Incubation Centre, canvassed an improved budgetary allocation for agriculture in view of the central role it plays in the development of Nigeria’s economy.
” Now that Nigeria’s revenue is on the increase, more funds should be invested in agriculture and agribusiness to secure our tomorrow,” he stressed.
Dr Philips Nto, a former Commissioner for Finance and Economic Development in Abia state, advocated that the increase in funding agriculture should anchor more on value addition to curb post harvest losses
According to him, the government should consider providing agricultural subsidies to real farmers while the states should revive the agricultural extension services to make them more functional.
” agriculture is an evolving sector that requires continuous training of rural farmers. Reviving the agriculture extension services will help farmers adopt new techniques for improved yield. The Agribusiness Incubation Centres across our universities can easily drive this initiative” he noted.
He also canvassed the setting up of industrial agro hubs in the 774 local government areas in the country to be designed in line with crops grown in each area as a means of sustainable food security.
Dr Nto said such hubs could be jointly funded through an integrated scheme by all tiers of government with the expected increase in food production and value addition.
” This multi-level collaboration will provide government the first hand guide on the agribusiness that is relevant to the need of the local farmers,” he submitted.
Dr Philips Nto also the immediate past Provost of Abia State College of Education, Technical, Arochukwu, however commended the federal government on its tax reforms which he noted would also impact on the growth of agriculture in the country.
He expressed the hope that whatever the government generates from the new tax laws should be used in funding agriculture, especially in the establishment of the agro-industrial hubs in the 774 local government areas in Nigeria.
—The Niche NG
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