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According to a statement by Stanley Nkwocha, senior special assistant to the president on media and communications, on Wednesday, Shetimma spoke at the African Development Bank’s World Food Prize-facilitated Norman E. Borlaug International Dialogue.,’ is a gathering of individuals from more than 65 countries fully prepared to address cutting-edge issues related to global food security and nutrition.
Shettima said under President Bola Tinubu’s watch, Nigeria has since demonstrated that “the agrifood sector is a top priority”.“substantial opportunities in Nigeria for local and foreign investors to boost agricultural productivity”.“Our primary objective is to empower our farmers and attract investors. We are increasing primary production to harness the economic potential of agro-processing and industrialisation,” Shettimma said.
“With the invaluable support of our partners, we are exploring innovative strategies to transform this quest for food security into a thriving enterprise.”Shettima also said while much of the demand for agribusiness products was satisfied through imports, the Tinubu administration is dedicated to reversing Nigeria’s over-reliance on importation.
“We are also offering preferential financing and subsidies, exemplified by an agricultural credit guarantee scheme that guarantees up to 75% of loans for agricultural ventures.“We’ve also introduced a range of tax incentives, including tax holidays, deductions for locally sourced materials, labour incentives, and pioneer status incentives, making it easier to conduct business.
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