FEC approves procurement of 2000 tractors, 1200 trailers, others to boost food security in Nigeria

Date:

July 11, 2024.

Thank you for reading this post, don't forget to subscribe!

Azonuchechi Chukwu.

The Federal Executive Council (FEC) has announced the approval of 2,000 tractors, 4,000 disc ploughs, and 1,200 tractor trailers among other equipment under the National Agricultural Mechanization Programme (NAMP) to promote food security in Nigeria.

This is contained in a statement shared on Wednesday by President Bola Tinubu’s Special Adviser on Information and Strategy on his X handle, outlining the outcomes of the FEC meeting in Abuja.

Onanuga said the equipment will be supplied by DMCC firm which is also planning to set up assembling plans of some of these equipment in the country.

“Procurement of 2000 tractors, 4000 disc ploughs, 1000 disc ridges, 1200 tractor trailers and assorted spare parts. The items to be supplied are for the National Agricultural Mechanization Programme(NAMP) to strengthen national food security.

“Astride DMCC, which has done a similar job in Zimbabwe, Kenya, South Africa and Togo, will supply all the equipment and will also set up a plant to assemble the machinery, in the second stage of the contract,” Onanuga said.

The approval by FEC came on the heels of the recent confirmation from the Minister of Agriculture, Senator Abubakar Kyari, that the government has decided to suspend import duties on certain food items for 150 days.

Kyari also said the federal government will import 250,000 metric tonnes of wheat and maize to fill the depleted strategic grain reserve.

In addition, the federal government will engage stakeholders to get a Guaranteed Minimum Price (GMP) for commodities, ramp up production, especially among smallholder farmers in the 2024/2025 farming season, promote of production of fortified food commodities and others. (www.naija247news.com).

Chukwu Azochukwu, The Naija247news
Chukwu Azochukwu, The Naija247newshttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

Share post:

Subscribe

Popular

More like this
Related

Over 263 Boko Haram Terrorists Surrender to MNJTF

July 19, 2024. Azonuchechi Chukwu. The Multinational Joint Task Force (MNJTF)...

CBN directs BDCs to cap forex profits at 1.5%

July 19, 2024. Azonuchechi Chukwu. The Central Bank of Nigeria(CBN) on...

Naira Depreciates to N1,572/$ in Parallel Market

July 19, 2024. Azonuchechi Chukwu. The Nigerian Naira on Thursday depreciated...

Nigerian Bourse advances by 0.48%

July 19, 2024. Azonuchechi Chukwu. The Nigerian Bourse recovered from the...
× How can I help you?