Nigeria 8th Senate is poised to ensure the fulfillment of the long-song diversification of the economy to shift from Oil dependency to becoming agricultural and local content oriented.
The senate, today, May 4, passed for second reading a bill for an Act to establish the National Agricultural Credit Fund to promote commercial Agriculture in Nigeria ensure credit support for production, storage and processing of target commodities, market development and Agricultural Enterprise.
The bill, sponsored by Senator Mao Ohabunwa, is targeted on commercial Agriculture promotion, enhanced coordination of the value in commercial agriculture, and redress of focus in the agricultural sector.
Over 15 lawmakers who spoke in support of the bill reiterated the essentiality of Agriculture in economic evolvement. They are: Senators Ibrahim Gobir, Ahmed Lawan, Aliyu Wammako, Emmanuel Bwacha , Abdullahi Adamu, Abubakar.
Others include: Bukar Ibrahim, Abubakar kyari, Jibrin Barau, Dino Melaye, Abubakar Gemade, Buka Ibrahim and Deputy Senate President Ike Ekweremmadu .
In his remark, the Senate President, Bukola Saraki, emphasized that these loans when available should be given to those who really need it especially for commercial purposes.
“This Credit Fund will also help ensure that local farmers are provided with implementable business plans and are linked to larger companies that will purchase their products.
“It will also help in the transition of seeing agriculture as a business, not just a social development program, as there will be clearly spelt out criteria for benefits, and fund administrators to guide the disbursement of the loans” Saraki said
On Tuesday, a Bill for an Act to make Provision for Freedom from Hunger and the Right to adequate food of acceptance quality; the right of every child to basic nutrition and for connected purposes which equally seeks to promote Agriculture passed second reading.
Recall that on 13th of January the Agricultural Credit Guarantee Scheme Fund Act (Amendment) Bill 2015 sponsored by Senator Andy Ubah passed second reading a full consolidation of these two bills will lead to improved commercial agriculture, food production and provide employment and wealth generation.
Also a bill for an act to establish Nigerian Agricultural Quarantine service and matters connected therewith by Senator Sonni Ogbuoji passed second reading on 25th of February 2016 and is now awaiting 3rd reading.
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