Economic Diversification and Agricultural Development
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In progress
Completed
Implementation Strategies (STRAT)
Strat.1 Advocate for a curriculum that aligns with industry needs, emphasising STEM (Science, Technology, Engineering, and Math) and vocational training .
Strat.2 Support the Executive to implement policies that subsidise the cost of essential agricultural inputs like seeds, fertilisers, and pesticides to reduce the cost of production for farmers .
Strat.3 Support policies encouraging youth and women’s participation in agriculture and addressing the ageing farming population issue .
Strat.4 Collaborate with the Executive to review import policies to protect local farmers from cheap imports that can undermine local production .
Strat.5 Provide tax breaks or incentives to organisations and businesses that invest significantly in the agricultural sector.
Strat.6 Provide tax breaks or incentives to organisations and businesses that invest significantly in the agricultural sector.
Specific Legislative Actions
Strat.1 The 10th Nigerian House of Representatives has actively advocated for aligning educational curricula with industry needs, emphasizing Science, Technology, Engineering, and Mathematics (STEM), as well as vocational training. Key initiatives include the Prioritization of STEM Education: In July 2024, the House Committee on Education reiterated the need to prioritize STEM education. Also the deliberation on the Bill for the Advancement of vocational education is on-going (https://thegreenchamber.ng/public/stakeholders-endorse-legislation-to-establish-nigerian-polytechnics-commission-and-advance-vocational-education/170?utm)
Strat.2 Through the scrutiny and approval of annual budget, the 10th House of Reps has supported the Executive to implement policies for exmple Ministry of Agriculture to implement the Dry Season farmig Programe (https://businessday.ng/news/article/fg-to-flag-off-dry-season-farming-slash-prices-of-farm-inputs-by-50/?utm)
Strat.3 Through the scrutiny and approval of annual budget, the 10th House of Reps has supported the Executive to implement policies centred on women and youths . For instance: Training and Empowerment Programs in some State in Nigeria (https://von.gov.ng/nigeria-empowers-womenyouths-on-small-ruminants-production/?utm). The House aslo advocates for Young Farmers' Clubs (https://fmino.gov.ng/fg-advocates-young-farmers-club-to-enhance-productivity-and-food-security/?utm).
Strat.4 The 10th House of Representatives has actively engaged in initiatives to protect local farmers from the adverse effects of cheap imports. For example, in March 2024, the House organized a Sectoral Debate on Agriculture and Food Security, bringing together key stakeholders, including the Minister of Agriculture and Food Security, Senator Abubakar Kyari, and the Comptroller-General of the Nigeria Customs Service, Bashir Adewale Adeniyi. (https://thegreenchamber.ng/sectoral-debate-agric-minister-others-outline-efforts-on-food-security/69?utm)
Strat.5 The Onging tax reform bill will provide tax breaks to some companies especially the SMEs through Tax Holidays for Agricultural Investments and Tax Exemption for Low-Income Farmers and Agribusinesses
Strat.6 The Onging tax reform bill will provide tax breaks to some companies especially the SMEs through Tax Holidays for Agricultural Investments and Tax Exemption for Low-Income Farmers and Agribusinesses
Economic Diversification and Agricultural Development
Not started
In progress
Completed
Implementation Strategies
Strat.1 Enact policies that support farmers with subsidies, access to credit, and modern farming techniques.
Strat.2 ICT and Digital Economy: Develop legislation that promotes digital innovation, data protection, and e-commerce .
Strat.3 Set up special economic zones with attractive incentives to draw in international investors.
Strat.4 Strengthen intellectual property laws to encourage innovation and protect inventors
Strat.5 Establish a legislative framework for agricultural banks or financial institutions that can provide low-interest loans to farmers.
Strat.6 Promote agricultural insurance schemes to shield farmers from losses caused by natural disasters, diseases, or market fluctuations.
Strat.7 Foster collaboration between the government and private sector in seed production, agro-processing, and agricultural infrastructure development .
Strat.8 Establish standards for agricultural products to meet both local and international markets.
Specific Legislative Actions
Strat.1 "As of February 20th, 2025, the 10th House of Representatives of Nigeria has taken legislative steps to support farmers through improved access to credit and modern farming techniques by introducing the Agricultural Credit Scheme Bill, 2023 for deliberation in the House.
On July 25, 2023, Hon. Godwin Offiono introduced the Agricultural Credit Scheme Bill, 2023 (HB. 232). This bill aims to establish a framework that facilitates easier access to credit for farmers, thereby enhancing their financial capacity to invest in agricultural activities.
2. Emphasis on Agricultural Extension Services:
The House has recognized the critical role of agricultural extension workers in educating farmers on modern agricultural practices and technologies. (https://nass.gov.ng/documents/billdownload/11085.pdf?utm. https://nass.gov.ng/documents/download/11134?utm)"
Strat.2 The National Digital Economy and E-Governance Bill, 2024. The bill successfully passed its first reading on July 4, 2024. (https://www.itedgenews.africa/national-digital-economy-e-governance-bill-advances-in-nigerian-national-assembly/?utm)
Strat.3 The 10th House of Representatives has advanced legislation to establish new Special Economic Zones (SEZs) aimed at attracting international investors. Notably: the Agro Processing Export Free Trade Zone, Yewa North/Imeko Afon, Ogun State: The Committee on Commerce presented a report on a bill to establish this SEZ on 12th December, 2024, indicating legislative progress toward its creation (https://nass.gov.ng/documents/download/11172?utm)
Strat.4 N/A
Strat.5 "The 10th House of Representatives of Nigeria has initiated steps toward enhancing financial support for the agricultural sector through legislative measures. Notably, on February 5, 2025, the House conducted the first reading of the ""National Agricultural Development Fund Act (Amendment) Bill, 2025 (HB. 2036). Also the
Commercial Agriculture Credit Scheme Bill, 2023 (HB. 232) which aim to provide accessible credit to farmer. (https://lightraymedia.org/2025/02/06/nigeria-national-assembly-plenary-house-of-reps-wed-feb-5th-2025?utm https://nass.gov.ng/documents/billdownload/11085.pdf?utm)"
Strat.6 N/A
Strat.7 The 10th House of Representatives has promoted collaboration between the government and the private sector in seed production, agro-processing, and agricultural infrastructure development through somel initiatives such as: 1. Advocacy for Investment in the Seed Industry: In November 2023, Deputy Speaker Hon. Benjamin Okezie Kalu emphasized the importance of investing in the seed industry to ensure national food security. He highlighted the critical role of plant breeders in providing farmers with diverse crop varieties and called for increased funding for agricultural innovations. https://von.gov.ng/deputy-speaker-calls-for-investments-in-the-seed-industry/?utm)
Strat.8 The 10th House of Representatives of Nigeria has been proactive in introducing legislation aimed at establishing standards for agricultural products to meet both local and international market requirements. Notable bills under consideration include:
1. Federal Produce Inspection Service Bill, 2023: This bill seeks to repeal the existing Produce (Enforcement of Export Standards) Act, Cap. P32 LFN, 2004, and establish the Federal Produce Inspection Service. The objective is to enhance the quality control of agricultural exports, ensuring they meet international standards. (Passed first reading on the 12th October, 2023). (https://fmino.gov.ng/summary-of-plenary-proceedings-of-the-house-of-representatives-for-thursday-october-12-2023/?utm)"
Economic Diversification and Agricultural Development
Not started
In progress
Completed
Implementation Strategies (STRAT)
Strat.1 Provide tax breaks and incentives for local manufacturers and prioritise infrastructural development that aids manufacturing .
Strat.2 Enact laws that protect foreign investors, ensuring that their investments are safe and guaranteeing repatriation of profits.
Strat.3 Allocate funds for research and development in key economic sectors .
Strat.4 Develop policies that enhance Nigeria’s export potential and reduce unnecessary imports.
Strat.5 Pursue and legislate bilateral and multilateral trade agreements beneficial to the Nigerian economy.
Strat.6 Review laws and policies to streamline various interventions of the Central Bank of Nigeria (CBN) and the Ministry of Agriculture, broaden access and ease efficient use of funds.
Strat.7 Conduct a holistic audit of policies, programmes, investment and results, of agricultural interventions to set a new agenda for that sector based on contemporary best practices.
Specific Legislative Actions
Strat.1 "The 10th House of Representatives of Nigeria has undertaken legislative initiatives to support local manufacturers through tax incentives and to prioritize infrastructural development that aids manufacturing: Legislative Measures for Tax Incentives: Bills Promoting Local Manufacturing: In October 2024, the House considered bills aimed at mandating government ministries, departments, and agencies to prioritize local manufacturers and indigenous companies in procurement processes.
2. Renewed Hope Infrastructure Development Fund: The House has supported the ""Renewed Hope Infrastructure Development Fund,"" an initiative aimed at accelerating infrastructure projects across the country. This fund is expected to improve critical infrastructure, thereby benefiting the manufacturing sector by enhancing transportation and logistics networks. 3. Also the ongoing TAx reform will also assist in providing some tax relief incentives to some manufacturers (SMEs) and farmers."
Strat.2 Investments and Securities Bill (HB. 1594), 2024. This bill seeks to repeal the existing Investments and Securities Act of 2007. It proposed to establish the Securities and Exchange Commission as the apex regulatory authority for the Nigerian capital market. Its objectives include ensuring capital formation, protecting investors, maintaining a fair, efficient, and transparent market. The bill was considered for thrid reading during the 12th December, 2024 plennary session. (https://nass.gov.ng/documents/download/11172?utm)
Strat.3 Through the approval of the annual national budget of various economic sector ministry the House of Representatives has consistently supported the allocation of funds for research and development.
Strat.4 "The 10th Nigerian House of Representatives have undertaken several initiatives to enhance Nigeria's export potential and reduce unnecessary imports. These include
1. Promotion of Agricultural Practices: In October 2023, during a plenary session, discussions highlighted the need to improve agricultural practices to reduce over-dependence on imported goods.
2. Support for Domestic Shipping: The House has emphasized the need for clear cargo reservation policies to maintain a percentage of cargo for domestic shipping companies. (https://www.icirnigeria.org/nass-increases-capital-budget-of-ministries-by-68-to-n5-6-trillion/?utm)"
Strat.5 Nigeria has recently engaged in significant international trade agreements aimed at bolstering its economic landscape: E.g Nigeria-Saudi Arabia Halal Economy Partnership which was signed in February 2025 with Saudi Arabia's Halal Products Development Company (HPDC) to position Nigeria as a significant trade player in the global halal market, valued at $7.7 trillion. This partnership aims to boost investment, technical cooperation, trade and market access across sectors such as food production, pharmaceuticals, finance, and livestock.Another trade agreement was between Nigeria and France which was signed on November 2024. The agreement was to enhance infrastructure development and food security. These deals include a €300 million investment plan supporting sectors such as healthcare, transportation, agriculture, renewable energy, and human capital development. Consequently, Nigerian banks Zenith Bank and United Bank for Africa expanded their operations into France, aiming to strengthen mutual trade and remove fiscal barriers. (https://www.reuters.com/business/nigeria-france-sign-infrastructure-finance-deals-2024-11-29/?utm https://statehouse.gov.ng/news/nigeria-signs-pact-with-saudi-arabia-to-boost-7-7trn-halal-economy/?utm. https://www.reuters.com/business/nigeria-france-sign-infrastructure-finance-deals-2024-11-29/?utm)
Strat.6 "The 10th House of Representatives of Nigeria has undertaken several initiatives to streamline interventions by the Central Bank of Nigeria (CBN) and the Ministry of Agriculture. This include Advocacy for Increased Agricultural Funding: In October 2024, the House called on the CBN to raise agricultural lending from the current 1.4% to 7% of total lending over the next five years.
Support for NIRSAL: The House urged the CBN to allocate an additional $3 billion to the Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL)."
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