PANAPRESS
Panafrican News Agency
Nigeria: President Buhari says Agriculture remains key to economic diversification
Abuja, Nigeria (PANA) - Presenting his 2017 Budget proposals to the National Assembly, Nigeria's President, Muhammadu Buhari, says agriculture remains at the heart of efforts to diversify the economy and the proposed allocation to the sector this year is at a historic high of 92 billion (about US$ 302 million).
He said on Wednesday at the presentation of the 7.28 trillion Naira (about US$ 24 billion) budget to a joint session of the National Assembly, that the figure allocated to agriculture will complement the existing efforts by the Federal Ministry of Agriculture and the Central Bank of Nigeria (CBN) to boost agricultural productivity through increased intervention funding at single digit interest rate under the Anchor Borrowers Programme, commercial agricultural credit scheme and The Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending.
He said "Accordingly, our agricultural policy will focus on the integrated development of the agricultural sector by facilitating access to inputs, improving market access, providing equipment and storage as well as supporting the development of commodity exchanges."
"Government realizes that achieving its goals with regard to job creation, also requires improving the skills of our labour force, especially young people. We have accordingly made provision, including working with the private sector and State Governments, to establish and operate model technical and vocational education institutes."
On healthcare, Buhari said his administration has proposed to expand coverage through support to primary healthcare centres and expanding the National Health Insurance Scheme.
The 2017 Budget estimates, he says, retains the allocation of 500 billion Naira to the Special Intervention programme consisting of the Home-grown School Feeding Programme, Government Economic Empowerment programme, N-Power Job Creation Programme to provide loans for traders and artisans, Conditional Cash Transfers to the poorest families and the new Family Homes Fund (social housing scheme).
The N-Power Programme has recently taken off with the employment of 200,000 graduates across the country, while the School Feeding Programme has commenced in a few States, where the verification of caterers has been completed.
"As we pursue economic recovery, we must remain mindful of issues of sustainable and inclusive growth and development. The significant vote for the Federal Ministry of Water Resources reflects the importance attached to integrated water resource management. In this regard, many river-basin projects have been prioritized for completion in 2017. Similarly, the increased vote of N9.52 billion for the Federal Ministry of Environment (an increase of 92% over the 2016 allocation) underscores the greater attention to matters of the environment, including climate change and leveraging private sector funding for the clean-up of the Niger Delta," he said.
"Provision has also been made for activities that will foster a safe and conducive atmosphere for the pursuit of economic and social activities," Buhari said, adding "In this regard, the allocation for the Presidential Amnesty Programme has been increased to 65 billion Naira in the 2017 Budget. Furthermore, 45 billion Naira in funding has been provisioned for the rehabilitation of the North East to complement the funds domiciled at the Presidential Committee on the North East Initiative as well as commitments received from the multinational donors."
He said the Budget represents a major step in delivering on "our desired goals through a strong partnership across the arms of government and between the public and private sectors to create inclusive growth. Implementation will move to centre-stage as we proceed with the process of re-balancing our economy, exiting recession and insulating it from future external and domestic shocks."
In conclusion, President Buhari commended the National Assembly for its support in steering "our economy on a path of sustained and inclusive growth. This generation has an opportunity to move our country from an unsustainable growth model – one that is largely dependent on oil earnings and imports, to an economy that focuses on using local labour and local raw materials.
"We cannot afford to let this opportunity slip by. We must all put our differences aside and work together to make this country succeed. The people that voted us into these esteemed positions are looking to us to make a difference. To change the course of this nation. I have no doubt in my mind that by working together, we will put Nigeria back on the path that its founding fathers envisaged."
-0- PANA VAO 14Dec2016
He said on Wednesday at the presentation of the 7.28 trillion Naira (about US$ 24 billion) budget to a joint session of the National Assembly, that the figure allocated to agriculture will complement the existing efforts by the Federal Ministry of Agriculture and the Central Bank of Nigeria (CBN) to boost agricultural productivity through increased intervention funding at single digit interest rate under the Anchor Borrowers Programme, commercial agricultural credit scheme and The Nigeria Incentive-Based Risk-Sharing System for Agricultural Lending.
He said "Accordingly, our agricultural policy will focus on the integrated development of the agricultural sector by facilitating access to inputs, improving market access, providing equipment and storage as well as supporting the development of commodity exchanges."
"Government realizes that achieving its goals with regard to job creation, also requires improving the skills of our labour force, especially young people. We have accordingly made provision, including working with the private sector and State Governments, to establish and operate model technical and vocational education institutes."
On healthcare, Buhari said his administration has proposed to expand coverage through support to primary healthcare centres and expanding the National Health Insurance Scheme.
The 2017 Budget estimates, he says, retains the allocation of 500 billion Naira to the Special Intervention programme consisting of the Home-grown School Feeding Programme, Government Economic Empowerment programme, N-Power Job Creation Programme to provide loans for traders and artisans, Conditional Cash Transfers to the poorest families and the new Family Homes Fund (social housing scheme).
The N-Power Programme has recently taken off with the employment of 200,000 graduates across the country, while the School Feeding Programme has commenced in a few States, where the verification of caterers has been completed.
"As we pursue economic recovery, we must remain mindful of issues of sustainable and inclusive growth and development. The significant vote for the Federal Ministry of Water Resources reflects the importance attached to integrated water resource management. In this regard, many river-basin projects have been prioritized for completion in 2017. Similarly, the increased vote of N9.52 billion for the Federal Ministry of Environment (an increase of 92% over the 2016 allocation) underscores the greater attention to matters of the environment, including climate change and leveraging private sector funding for the clean-up of the Niger Delta," he said.
"Provision has also been made for activities that will foster a safe and conducive atmosphere for the pursuit of economic and social activities," Buhari said, adding "In this regard, the allocation for the Presidential Amnesty Programme has been increased to 65 billion Naira in the 2017 Budget. Furthermore, 45 billion Naira in funding has been provisioned for the rehabilitation of the North East to complement the funds domiciled at the Presidential Committee on the North East Initiative as well as commitments received from the multinational donors."
He said the Budget represents a major step in delivering on "our desired goals through a strong partnership across the arms of government and between the public and private sectors to create inclusive growth. Implementation will move to centre-stage as we proceed with the process of re-balancing our economy, exiting recession and insulating it from future external and domestic shocks."
In conclusion, President Buhari commended the National Assembly for its support in steering "our economy on a path of sustained and inclusive growth. This generation has an opportunity to move our country from an unsustainable growth model – one that is largely dependent on oil earnings and imports, to an economy that focuses on using local labour and local raw materials.
"We cannot afford to let this opportunity slip by. We must all put our differences aside and work together to make this country succeed. The people that voted us into these esteemed positions are looking to us to make a difference. To change the course of this nation. I have no doubt in my mind that by working together, we will put Nigeria back on the path that its founding fathers envisaged."
-0- PANA VAO 14Dec2016
