Speaker of the House of Representatives, Tajudeen Abbas has expressed parliament’s readiness to enact laws that would enable agricultural banks and other financial institutions give low interest loans to farmers for the purpose of achieving food security in the country.
The speaker, who stated this on Monday in his remarks at the second interactive session and workshop on Developing Bankable Business/Proposal Business Plans for Youth and Women in Agriculture, reiterated government’s commitment to address the current food scarcity.
Represented by the deputy speaker, Benjamin Kalu, Abbas observed that the future of oil in Nigeria is uncertain and such negative trend and development make it imperative for the country to invest in alternative sectors of the economy instead of oil.
“As we gather here, it is crucial to acknowledge that over-reliance on oil as our primary export has become neither sustainable nor prudent.
“The future of oil is increasingly uncertain, especially as the global community shifts towards greener and more sustainable energy sources. This reality makes it not just necessary, but urgent for us to explore and invest in alternative sectors, with agriculture standing out as a critical area for development.
“Agriculture and information technology offer a vast potential for economic growth and sustainability. By focusing on developing and implementation of bankable business proposals, we can empower our youth and women—two of the most vital demographics in our society—to become key players in these sectors,” he said.
