Support for Increased Agricultural Investments and Development

Agricultural investments in Nigeria have taken a dip. The multiple challenges of insecurity, poor funding and lack of incentives meant that investments in agricultural development in Nigeria is imperilled. Agriculture in Nigeria is a major source of employment, particularly in rural communities. This fact is however challenged by the high
level of insecurity across the country and local communities and farms folding up in fear of violence and insecurity. Even industrial agriculturists interested in large scale and mechanized farming are not saved from the challenge of insecurity in the country. The Senate is fully cognisant of these challenges and intends to take legislative action to support reforms in the following manner:

1. Engage the executive arm of government and the various national security agencies to agree on a national security framework that will protect farmers and achieve a return to the farmlands by local and industrial farmers.
2. Through the instrument of law making and oversight, carry out a review of the various policies impacting on farmers and their ability to assess credit, loans, subsidies, training or mechanised equipment, with a view to eliminating encumbrances and challenges.
3. Embark on a more robust oversight system that ensures that banks and financial institutions responsible for providing low-interest loans to farmers deliver on their mandate and on the expectations of farmers.
4. Use the legislative tool of oversight to institute or where they already exist, ensure that safety nets are provided to protect farmers and their farming businesses from losses occasioned by natural disasters, disease infestations and other unexpected losses and market volatility.
5. Implement oversight activities to ensure that agricultural institutions and agencies of government responsible for research and development of agricultural seeds deliver same to farmers at affordable costs. The Senate will also ensure that agricultural input including fertilisers and pesticides, as well as machineries are made available to farmers at reduced costs by institutions tasked with providing same.
6. Establish standards for agricultural products to meet both local and international markets.
7. Collaborate with the Execute to review import policies to protect local farmers from cheap imports that can undermine local production