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🇳🇬 Nigeria /Economy & Trade

Bank of Agriculture Proposes 1.2 Million Hectare Mechanised Farming Plan with Lawmakers

From The Punch · (36m ago) English Positive tone

Translated from English, summarized and contextualized by DistantNews.

TLDR

  • The Bank of Agriculture (BoA) has proposed a large-scale mechanised farming initiative across 1.2 million hectares in Nigeria's 360 federal constituencies.
  • The plan, unveiled by BoA Managing Director Ayo Sotinriade, aims to boost food production, alleviate rural poverty, create jobs, and address insecurity.
  • A key feature is a cost-sharing model where lawmakers contribute 60% towards tractors for their constituencies, with the goal of shifting from subsistence to commercial agriculture and making Nigeria a net food exporter.

The Bank of Agriculture (BoA) is spearheading a transformative initiative aimed at revolutionizing Nigeria's agricultural sector. In collaboration with the House of Representatives, the bank has proposed a nationwide mechanised farming program targeting an ambitious 1.2 million hectares. This plan, presented by BoA Managing Director Ayo Sotinriade, is designed not only to significantly increase food production but also to tackle the persistent issues of rural poverty, unemployment, and insecurity that plague the nation.

The programme is designed to increase agricultural productivity, create jobs, reduce hunger and address some of the structural drivers of insecurity.

— Ayo SotinriadeOutlining the multi-faceted goals of the proposed agricultural initiative.

Central to this ambitious project is a novel cost-sharing mechanism. Lawmakers are expected to contribute 60% of the cost for tractors to be deployed within their respective constituencies. This model ensures local buy-in and facilitates the direct delivery of modern farming technology to grassroots farmers. Sotinriade highlighted the potential impact, noting that a single tractor can mechanize up to 600 hectares annually. With a projected rollout of 2,000 tractors, the scheme could cover the targeted 1.2 million hectares, marking a pivotal shift from subsistence farming to large-scale commercial agriculture.

Each member of the House would contribute 60 per cent of the cost of a tractor to be deployed within their constituency for use by local farmers.

— Ayo SotinriadeExplaining the cost-sharing model involving lawmakers.

The initiative extends beyond mere mechanization. The proposed farming hubs will serve as integrated service centers, providing farmers with access to essential inputs, irrigation systems, aggregation facilities, financial services, and extension support. This comprehensive approach is expected to dramatically improve yields, enabling year-round farming with multiple production cycles. By boosting incomes and creating sustainable livelihood opportunities, the BoA's plan holds the promise of lifting millions out of poverty and reducing the drivers of insecurity. The Punch views this as a practical and impactful strategy to foster economic inclusion and enhance the resilience of Nigeria's agricultural landscape, particularly benefiting vulnerable populations like internally displaced persons.

A single tractor can mechanise a minimum of five hectares per hour and up to 600 hectares annually.

— Ayo SotinriadeHighlighting the efficiency and potential scale of the mechanization plan.
DistantNews Editorial

Originally published by The Punch in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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