Agriculture
THE National President for Agricultural Commodities Association, Alhaji Sadiq Daware, has lauded President Muhammadu Buhari for signing the National Agricultural Development Fund (NADF) bill into law.
In a statement on Wednesday in Abuja, Daware said the signing of the NADF bill showed the president’s commitment to the plight of Nigerian farmers.
According to him, the fund will allow farmers and all commodity associations to access financial interventions without the bureaucracy being experienced with the banking system.
He said the intervention was a landmark achievement under the present administration and a legacy which farmers would never forget or take for granted.
He said part of the way the new NADF would be funded includes derivation from 0.5 per cent of natural development resources fund and 5 per cent of the duty levied on import of rice, wheat, sugar, milk, poultry and fish.
The NADF governing board shall consist of the chairman and representative from federal Ministries of Finance, Budget, Planning, Agriculture and Rural Development, Science and Technology, Federal Inland Revenue Service, Farmers representative and major stakeholders in the agricultural sector.
On July 27, the two houses of the National Assembly approved the setting up of the NADF as financial intervention institution to support strategic aspect of the sector towards meeting up with its inadequate funding.
Buhari signing of the bill was contained in an official gazette Number 192 and volume 109 of the Federal Republic of Nigeria published in Oct. 30 by the clerk of the National Assembly (NASS), Mr O.A. Ojo.(NAN)
A.I
Tags: Alhaji Sadiq Daware
