Bagudu Urges IFAD to Boost Investments in Agriculture

The Minister of Budget and Economic Planning, Senator Abubakar Bagudu, has urged the International Fund for Agricultural Development (IFAD) to increase investments in agricultural projects in the country.

Speaking when he received a high-level delegation of IFAD which paid him a courtesy call in Abuja, the minister pointed out that over the years, IFAD had been investing and empowering small scale farmers and producers with emphasis on those who were mostly at risk, to ensure inclusiveness.

He said the fund had invested in technology, administration, finance planning and human resource, all aimed at optimising corporate effectiveness and efficiency to tackle administrative bureaucracy.

Bagudu said the current administration is committed to implementing a multi-faceted approach that combines sustainable agriculture practices, climates smart technology and social protection programmes.

In a statement issued Director, Information, Julie Osagie-Jacobs, Bagudu said, “We believe it represents both an opportunity and challenge today because of exchange rate devaluation.

“Our food is relatively cheaper for most West African and some central African countries to buy.

“So, that calls for us to respond and do more for our own domestic needs as well as be able to support other countries whose food system are not elastic as ours”.

In his remarks, the Associate Vice President, Programme Management Department, IFAD, Dr. Donal Brown, said he was impressed with the commitment of the federal government in their effort towards food security, agriculture and the implementation of Food Systems Transformation Pathway, in the country.

He said that Nigeria remained one of its strongest partners and biggest programme, adding that the fund needed to engage with the current administration to review the IFAD replenishment process.

L–R: Independent Non-Executive Director, Vitafoam Nigeria Plc, Abdul Bello; Commercial Director, Dahiru Gambo; Non -Executive Director, Achike Umunna; Finance Director, Joseph Alegbesogie; Group Managing Director and Chief Executive Officer, Taiwo Adeniyi; Chairman, Professor (Mrs) Rosemary Egonmwan; Non-Executive Director, Ademola Bolarinwa; Non-Executive Director, Zakariah Sasa; Technical Director, Sola Owoade,; Company Secretary and Legal Adviser, Lekan Sanni; Supply Chain Director, Olaoluwa Ogunfeytimi and Non-Executive Director, Gerson Silva, during the 62nd Annual General Meeting of Vitafoam Nigeria PLC, in Lagos... recently