The Minister of Budget and Planning, Senator Udo Udoma, has said the country needs more than 100,000 new tractors to achieve production targets in the agricultural sector.
The minister said this while speaking at the inauguration of the Higher Institution Tractorisation Initiative in Abuja on Friday.
The initiative is a joint agreement on Nigeria Agricultural Mechanisation Local Content Support Initiative between the University of Nigeria, Nsukka, and a firm, Hightech System Limited.
Represented by the Director, Economic Growth, Kayode Obasa, the minister said the importation of agricultural equipment is not sustainable.
“The Federal Government has made agriculture one of the six key priority sectors under the Economic Recovery Growth Plan.
For the objectives of the agricultural policy to be achieved, the mechanisation of the subsectors has a vital role to play. Based on the alternative estimates, Nigeria needs to add over 100,000 tractors as equipment over the coming five to eight years in order to achieve its production targets.
“Production, maintenance and access to equipment are all areas that require attention. This is why we welcome the private sector-led Higher Institution Tractorisation Initiative.
The government intervention plan is targeted at propelling Nigeria back to the sustainable accelerated development in the medium plan to 2020.
In our efforts to diversify the economy, the present administration recognises the strategic role of agriculture in national development,” he said.
