Stakeholders within the agriculture sector have raised concerns over the proposed N362.9 billion budget allocated to the Ministry of Agriculture in the 2024 Budget. The stakeholders voiced their apprehension regarding the budgetary allocation during a recent news conference in Abuja.
Describing the total budget of N362.9 billion as inadequate, they highlighted that this amount represents a mere 1.32 per cent of the total Federal Government budget. The Programme Manager of Food and Agriculture at ActionAid Nigeria, AAN, Azubike Nwokoye, emphasized the importance of prioritizing agriculture in the national budget. Nwokoye underlined that the agricultural sector has the potential to transform the economy and provide employment opportunities for a large number of young people.
Nwokoye further expressed his dismay, stating, “The budget allocated to the agriculture sector has not exceeded two per cent of the overall budget for the past seven years. Nonetheless, actual data has not demonstrated that a sector’s production in terms of social benefit to the society increases with the amount of resources allocated to it.”
This discontent among stakeholders reflects a growing sentiment within the agriculture community, calling for greater recognition and investment in the sector. The concern extends beyond the nominal figure of the budget to encompass the broader implications for the agricultural industry and its vital role in the nation’s economic and social fabric.
