‘FG’s Agric loans to train youth, boost production’

T@SimonEchewofun

he Federal Government has said part of foreign agricultural loans will be invested in training youth in modern agricultural practices to improve production.

The Minister of Agriculture and Rural Development, Chief Audu Ogbeh has said in Abuja that the new policy would boost agricultural production, while facilitating efforts to improve exports of agricultural commodities.

Ogbeh was reacting to calls by stakeholders to commence the second phase of the West Africa Agricultural Productivity Programme (WAAPP).

The minister in a News Agency of Nigeria (NAN) report said that the generation of foreign exchange through the exportation of agricultural produce would also help the country to reduce its debt burden.

“A portion of any loan we take now will be dedicated to encouraging agricultural production and exportation of products grown by young people and women. We just have to earn more foreign exchange because we must pay our debts,” he said.

Ogbeh said statistics indicate that 66 per cent of all tax revenues is spent on servicing debts adding that to avoid embarrassment; government will take part of such facilities and invest in agricultural projects that young people pursue for exports to earn both foreign exchange and naira.

“The rest of the loans will go into training of youths and promotion of our produce,’’ he said.