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Nigeria’s agriculture sector set to receive boost from investments

Nigeria’s agriculture sector is set to benefit from government reform plans and investments that will aim to stimulate growth within the production chain and create millions of jobs

Plans will be implemented to encourage banks to improve lending to crop farmers and large-scale processors, as well as for the government to take action on boosting the sector.

According to Nigerian President Goodluck Jonathan, the government’s outlook on the agriculture sector is that it should be run as a business to provide food security and generate jobs.

“Government efforts to enable growth in the agricultural sector are an attempt to unlock potential that is available today,” stated Paul Gbededo, managing director of the agro-allied division at Flour Mills of Nigeria.

“This is the same potential that made Nigeria a major global food producer in the mid-20th century. We are in the process of creating an enabling environment that will allow us to get back to what we once were, and an essential part of this will be to make funding available for agricultural projects at low interest rates and for the long term,” he added.