Adedapo Adesanya
By Adedapo Adesanya
The Vice President, Mr Kashim Shettima, has disclosed that the federal government had obtained a $163 million loan from the African Development Bank (AfDB) to support wheat production.
Mr Shettima said this on Sunday in Argungu, Kebbi State, while on a condolence visit to the family of the late Abubakar Giro, a Sheikh.
The vice president, who visited the family of the late Islamic scholar on behalf of President Tinubu, said, “This is a great loss to the state, nation, and West Africa.
He reassured that the federal government, under the leadership of President Bola Tinubu, would fulfil all its promises to Nigerians.
Mr Shettima, speaking at the palace of the Emir of Argungu, Sumaila Mohammed, re-affirmed the determination of the Tinubu administration to fulfil its promises, particularly in the agricultural sector, adding that food security would receive serious attention from the government.
According to him, “We have obtained a $163 million loan from the African Development Bank to support wheat production. The scheme would be launched soon.
“We need 10,000 hectares of land in Kebbi State. But the scheme would be well executed in Jigawa State with a cultivation of 50,000 hectares of land to boost wheat production.”
This development is the latest move by the Tinubu-led administration since he declared a state of emergency on food emergency in July.
Food prices have been on the rise across Nigeria in recent years. The situation deteriorated due to the impact of government policies such as the removal of subsidies on petrol, among others.
Nigeria’s annual inflation rate rose to 24.08 per cent in July from 22.79 per cent in the previous month, according to the National Bureau of Statistics (NBS).
The food inflation rate also quickened to 26.98 per cent in May from 25.25 per cent in June. The rise in food inflation on a year-on-year basis was caused by increases in prices of oil and fat, yam and other tubers, bread and cereals, fish, potatoes, fruits, meat, vegetables, and spirit, the National Bureau of Statistics (NBS) said.
The government said it would take some steps as part of the state of emergency in the short, medium and long term. It noted that it would use some of the saved spending on subsidies to boost the agriculture sector.
“In the immediate term, we intend to deploy some savings from the fuel subsidy removal into the Agricultural sector, focusing on revamping the agricultural sector,” President Tinubu said.
