Allocate 10% of budget to agric research- CASON

Anthony Nwakaegho/NaijaAgroNet

The Coordinator, Agribusiness and Youths Empowerment of Community of Agricultural Stakeholders of Nigeria (CASON), Mr Sotonye Anga has called on the Federal Government to devote 10 per cent of the national budget to boost the capacity of research institutes towards the development of the agriculture sector, NaijaAgroNet reports.

Anga gave the charge at the presentation of his paper titled “New Path to Wealth: Micro and Small Scale Food Processing in Africa,” at the 29th Omolayole management lecture series in Lagos and stressed that government need to spend money in the sector in order to allow it add value to the lives of the people.

“I am worried how far our agriculture can go with budget allocation of less than three per cent of national budget allotted to agriculture. Let me state clearly that it will not be out of place to give at least 10 percent of our national budget beginning with 2014 to agriculture and maintain this trend for the next 10 years. This is the way to go if we are serious about accelerating development in the sector,” he said.

He called for more efforts to ensure that lending to the agricultural sector is on a single digit interest rate and said that “you will kill our farmers when you lend to them at 26 percent per annum.”

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