THE Federal Government has approved N50 billion to boost mechanised farming.
Consequently, President Goodluck Jonathan has directed the Central Bank of Nigeria, CBN, to set aside the fund for full scale mechanised farming in the country.
The President disclosed this at the commissioning of the new 100, 000 metric tonnes silo complex and the flag-off of private sector-driven agricultural equipment hiring enterprises at Sheda, Kwali Area Council, Abuja.
Jonathan, who was represented by the Vice President, Namadi Sambo, stated that he had already directed that 590 units of tractors, 500 power-tillers and harvest and post-harvest equipment be used to support women and youths in agriculture.
He also said the money would be used to fund the establishment of 1,200 agricultural equipment hiring enterprises nationwide.
This support fund will allow to speed up the full establishment of the 1, 200 private sector driven agricultural equipment hiring enterprises in all states of the federation.”
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