Revealed! FG plans new Agribusiness mechanism to crash food prices

• The National Agribusiness Policy Mechanism volition beryllium introduced by the national government
• This seeks to stabilise nutrient prices, summation cultivation output, and beforehand economical expansion
• The NAPM seeks to amended outdated farming practices, inefficient subsidies, and nutrient inflation

Legit.ng writer Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

To boost cultivation output, stabilize nutrient prices, and stimulate economical growth, the Federal Government plans to present the National Agribusiness Policy Mechanism (NAPM).

The Green Imperative Project (GIP) is simply a $1.1 cardinal programme signed connected March 17, 2025. Photo Credit: FG
Source: UGC

The NAPM is simply a constituent of larger programs designed to usage data-driven argumentation and public-private partnerships to modernise the nation's agriculture industry.

Vice President Kashim Shettima stated that the programme volition usage real-time information analytics to coordinate cultivation efforts crossed each levels of authorities during a gathering of the Presidential Food Systems Coordinating Unit (PFSCU) Steering Committee held astatine the Presidential Villa successful Abuja connected Friday.

“The Green Imperative Project (GIP) is an thought whose clip has come. It has been successful the incubation play for respective years, and present it is coming to fruition; we person to get it right.“We person had galore interventions successful this state successful the past. We indispensable marque this work, and it’s the states that volition thrust the process,” the Vice President said.

The Green Imperative Project (GIP), a $1.1 cardinal programme signed connected March 17, 2025, betwixt Nigeria and Brazil, aims to modernize 774 mid-sized Nigerian farms with Brazilian agricultural technologies, generating employment and expanding accumulation nationwide.

The National Emergency Management Agency (NEMA) has been fixed N15 cardinal by President Bola Tinubu to hole for floods arsenic the rainy play begins, VP Shettima added.

“This is 1 of the archetypal proactive decisions by the authorities to hole for the flooding season,” the Vice President noted.

Marion Moon, PFSCU's Executive Secretary and Technical Assistant to the President connected Agriculture, antecedently clarified that NAPM seeks to lick issues of excessive food prices and cultivation output that autumn 60% abbreviated of worldwide averages.

According to her, the NAPM aviator survey has been finished successful 13 states, and the afloat rollout is scheduled for June 2025.

The NAPM aims to code nutrient inflation, ineffective subsidies, and antiquated cultivation methods by providing the federation with a azygous model to maximize nationalist spending and beforehand sustainable agrarian development. It is backed by information analytics collaborations and a digital platform that is presently being developed.

Governors Umar Namadi of Jigawa State and Biodun Oyebanji of Ekiti State were among those successful attendance, arsenic were Deputy Governors Patricia Onyemaechi Obila of Ebonyi State and Umar Kadafur of Borno State.

Dealers set prices arsenic overseas atom hits Nigerian marketplace

Legit.ng reported that Nigerians whitethorn acquisition immoderate reprieve again successful the prices of overseas parboiled rice pursuing a planetary glut successful large producing countries.

The terms clang is owed to oversupply successful India, the world’s largest producer. For the 2nd season, this has accrued planetary stockpiles, forcing atom prices to their lowest successful 15 years.

Since February, prices of section and overseas atom person reduced and remained comparatively stable.

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Source: Legit.ng