Agricultural Economist Calls for 30% Budget Allocation to Boost Farming in Nigeria
What happened
Prof Phillips Nto, an agricultural economist and former Abia State Commissioner for Finance and Economic Planning, called on state and local governments to allocate at least 30% of their annual budgets to agriculture. He also urged state governors to deploy compressed natural gas-powered and electric buses in rural communities to facilitate the transportation of farm produce to markets.
From thesun.ng
Why it matters
Nto argued that increased funding from the Federation Account Allocation Committee should lead to greater investment in agriculture, supported by policies like providing improved seeds and modern farming technologies. He also stressed that strengthening security in farming communities is necessary to prevent insecurity from undermining food production.
A state administration in Abia State is currently partnering with Pan-Atlantic University and maintaining ties with global financial bodies, including the World Bank.
From thesun.ng
Who's involved
- Abia StateState where the calls for agricultural investment are directed
- ArochukwuTown where Prof Phillips Nto is connected
- World BankInternational financial institution mentioned in the context of Nto's background
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- NigeriaSpeculative
Nigeria might face policy pressure for increased agricultural budget allocation and infrastructure investment.
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The entities involved
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Abia State
state in Nigeria
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Arochukwu
town in Abia state
Nothing else this week.
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World Bank
international financial institution