MARKET DEVELOPMENT
Nigeria Plans Market Development Body To Boost Value Chain For Commodities
Nigeria Plans Market Development Body To Boost Value Chain For Commodities
13/06/2014 (Bernama) - A ministry's official said the Nigerian federal government will establish a Commodity Trade and Market Development Corporation to boost agricultural value chain in the country.
In an interview with the News Agency of Nigeria (NAN) here Tuesday, Dr. Uche Nwafor, regional director of the Federal Ministry of Agriculture and Rural Development in Enugu state, said the corporation would be the result of the success of the government's Agricultural Transformation Agenda (ATA).
The corporation would be private sector-driven to promote the various agricultural value chains.
"This body will coordinate the entire value chains in Nigeria and enhance Nigeria's competitiveness, while expanding and stabilising income for our farmers," Nwafor said.
He said the ATA had boosted Nigeria's agricultural exports and earnings as well as created many jobs since 2012. Agricultural exports and earnings increased by 821,588 tonnes and 759 billion Nair (about US$4.66 billion ) respectively along with a reduction in imports of N857 billion in 2012.
He said no fewer than 2.2 million jobs out of the projected 3.5 million targeted by 2015 had been created since the introduction of the ATA.
The scheme had developed strong value chains for agricultural produce such as cocoa, rice, sorghum, cassava, cotton, palm oil, cattle, poultry, fish, sheep and goats.
"The operations of the ATA are based on prioritising commodity value chains along comparative advantage in the zones," Nwafor said.
Nwafor said the cessation of the government in the involvement of the procurement, supply and distribution of fertiliser and seeds to farmers had been the fulcrum on which the scheme revolved.
The more than 10 million farmers so far registered in the Growth Enhancement Support (GES) scheme was an indication that Nigeria was on the way to achieving food security, he added.
In an interview with the News Agency of Nigeria (NAN) here Tuesday, Dr. Uche Nwafor, regional director of the Federal Ministry of Agriculture and Rural Development in Enugu state, said the corporation would be the result of the success of the government's Agricultural Transformation Agenda (ATA).
The corporation would be private sector-driven to promote the various agricultural value chains.
"This body will coordinate the entire value chains in Nigeria and enhance Nigeria's competitiveness, while expanding and stabilising income for our farmers," Nwafor said.
He said the ATA had boosted Nigeria's agricultural exports and earnings as well as created many jobs since 2012. Agricultural exports and earnings increased by 821,588 tonnes and 759 billion Nair (about US$4.66 billion ) respectively along with a reduction in imports of N857 billion in 2012.
He said no fewer than 2.2 million jobs out of the projected 3.5 million targeted by 2015 had been created since the introduction of the ATA.
The scheme had developed strong value chains for agricultural produce such as cocoa, rice, sorghum, cassava, cotton, palm oil, cattle, poultry, fish, sheep and goats.
"The operations of the ATA are based on prioritising commodity value chains along comparative advantage in the zones," Nwafor said.
Nwafor said the cessation of the government in the involvement of the procurement, supply and distribution of fertiliser and seeds to farmers had been the fulcrum on which the scheme revolved.
The more than 10 million farmers so far registered in the Growth Enhancement Support (GES) scheme was an indication that Nigeria was on the way to achieving food security, he added.