THE Federal Executive Council (FEC) has approved the acquisition of 2,000 tractors, 4,000 disc ploughs, and 1,200 tractor trailers, along with other agricultural equipment as part of the National Agricultural Mechanization Programme (NAMP) efforts to boost food security in Nigeria.
According to a statement from the Special Adviser on Information and Strategy to President Bola Tinubu, Bayo Onanuga, released yesterday following the FEC meeting in Abuja, the equipment will be sourced from the DMCC company.
DMCC also intends to establish assembly plants for some of these items within Nigeria.
The procurement includes 2000 tractors, 4000 disc ploughs, 1000 disc ridges, 1200 tractor trailers, and various spare parts, all meant for the National Agricultural Mechanization Programme (NAMP) aimed at bolstering national food security.
Working in partnership with DMCC (Dubai Multi Commodities Centre), a company that has previously undertaken similar projects in Zimbabwe, Kenya, South Africa, and Togo, the equipment will be supplied and an assembly plant will be set up in the subsequent phase of the contract.
The federal government also plans to collaborate with stakeholders to establish a Guaranteed Minimum Price (GMP) for agricultural produce, increase production—especially among smallholder farmers—for the 2024/2025 farming season, encourage the production of fortified food commodities, and undertake other related initiatives.
This initiative is crucial as Nigeria grapples with food security crisis, characterized by a 40.5% food inflation rate, making it challenging for households nationwide to meet their food needs.
Staple food prices, particularly grains, have surged by over 100% in the past year.
Recently, the federal government announced its intention to provide financial support to 50,000 to 100,000 households in each of the 36 states, for a period of three months.
Additionally, the government plans to procure food items worth ₦155 billion to distribute across the country as part of its efforts to address the food security challenge.