By Ogenyi Ogenyi, Uyo
The Federal Government has reaffirmed its commitment to sustainable agriculture and the development of a robust agribusiness sector by offering incentives to encourage private sector involvement.
Minister of Agriculture Abubakar Kyari made this statement on Monday while delivering the opening address at the third Agribusiness Roundtable Conference in Uyo, Akwa Ibom State.
Kyari highlighted that the government has structured agricultural investment incentives to create a stable and favorable economic environment for both local and foreign investors. “Some of these incentives include tax holidays, exemptions, and reliefs, while others leverage specific government policies, company performance, and relevant international investment treaties,” he explained.
“One of the key reforms in the agricultural sector is transforming agriculture into a business rather than a development program. We are enhancing the agricultural value chains to unlock value for our farmers, especially in areas where we hold a comparative advantage,” Kyari said.
He added that these reforms align with President Bola Tinubu’s vision, who recently declared a state of emergency on food security to drive an agricultural revolution aimed at strengthening food and nutrition security while promoting industrialization for wealth and job creation.
“We are committed to delivering enabling policies and programs that meet the Ministry’s targets set by President Tinubu, ensuring Nigerians are food secure,” he emphasized.
The Minister noted the government’s commitment to partnering with stakeholders to build an agribusiness economy that can sustain prosperity, meet domestic food security goals, and encourage private investment.
Kyari also stated that the government is collaborating with state governments and the organized private sector to support youth and women with access to technical, entrepreneurial, business, and marketing skills.
He expressed hope that the conference would open opportunities to strengthen the agribusiness sector, supporting the growth needed for food security, job creation, and economic diversification, ultimately transforming the nation’s economy and ensuring national security.
In his welcome address, Akwa Ibom State Commissioner for Trade and Investment, John Etim, highlighted the state government’s commitment to agriculture. He noted that the Arise Agenda, the state’s economic blueprint, prioritizes agriculture as a key factor in the state’s development.
The theme of the three-day conference, “Uyo 2024,” is “Unlocking Agribusiness Opportunities for Economic Sustainability,” and is attended by stakeholders from across the agricultural sector, including banks, financial institutions, farmers, and private sector operators.
