FG Targets 32% Contribution to GDP by Agricultural Commodities
The Federal Government has begun developing national agric-commodity value addition guidelines to support Small and Medium Enterprises (SMEs) and agribusinesses in achieving agriculture value chain development and commodity industrialisation.
Amb. Nura Rimi, Permanent Secretary, Commodities and Export Department, Federal Ministry of Industry, Trade and Investment, gave the assurance at a stakeholders’ forum held in Ikeja.
The News Agency reports that the forum had the theme: “Agric-commodities Value Addition, Industrialisation and Improved Market Access: An Imperative Of Value Addition Guidelines”.
Rimi was represented by the Director of Commodities and Export Department in the ministry, Mr kaura Irimiya.
He said that the guidelines would serve as essential tools to effectively support SMEs and agribusinesses.
According to him, the guidelines have the target of achieving 32 per cent contribution by agricultural commodities to Nigeria’s gross domestic product and reducing post-harvest losses to a single digit by 2027.
He said that the initiative was part of President Bola Tinubu’s administration’s economic reforms agenda aimed at promoting a holistic approach for improvement in the nation’s agricultural commodity value addition.
Rimi said that the ministry was committed to providing policy support and an enabling environment to reposition the nation’s agric-commodity sub-sector toward achieving self-sufficiency in food production.
He added that the guidelines were aimed at promoting competitiveness of agribusiness locally and internationally.
“The forum aimed to articulate strategic guidelines to address the existing gap in agric-commodity value addition, enhancing food security, industrialisation and economic growth.
“Recent data shows that the agriculture sector contributes about 25 per cent to Nigeria’s gross domestic product, with crop production dominating the sector.
“However, little attention has been given to adoption of global best practices in the agricultural commodity value chain, resulting in significant post-harvest losses estimated at about 60 per cent of national production.
“The Federal Government, under this administration, is implementing policies and programmes prioritising food security and promoting non-oil export through diversification.
“Also, we are leveraging on the vast national potential in agric-commodities to boost foreign revenue and accelerate development,” he said
The permanent secretary also said that the initiative was in line with the president’s priority policy trust area, which included promoting Nigeria’s exports, food security, and improving value addition and competitiveness.
Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, said that the guidelines aimed to standardise processes, ensure quality, and foster innovation across the agriculture value chain.
She emphasised the importance of the initiative in transforming Nigeria’s agricultural sector and contributing to the nation’s economic development.
According to her, the guidelines will enhance competitiveness in the global market and stimulate economic growth.
The commissioner highlighted Lagos State’s commitment to agricultural development, citing initiatives such as the Lagos State Agricultural and Value Chain Enterprises project as well as investments in infrastructure. #FG Targets 32% Contribution to GDP by Agricultural Commodities
