Concerns arise over proposed N362 billion allocation to agriculture in 2024 budget

Stakeholders within the agriculture sector have raised concerns over the proposed N362.9 billion budget allocated to the Ministry of Agriculture in the 2024 budget, terming it insufficient. This sentiment was expressed during a news conference held in Abuja on Saturday.

The stakeholders highlighted their dissatisfaction with the budgetary allocation, stating that the allocated amount accounts for only 1.32% of the total Federal Government budget. They emphasized the importance of prioritizing agriculture in the national budget, emphasizing its potential to drive economic change and provide employment opportunities for a substantial number of young individuals.

Azubike Nwokoye, the Programme Manager for Food and Agriculture at ActionAid Nigeria (AAN), stressed the need for increased budgetary focus on the agriculture sector, stating that allocating less than two percent of the overall budget to agriculture for the past seven years has not resulted in a proportional increase in the sector’s social benefits to society.