The minister of agriculture and rural development, Audu Ogbe says Nigeria plans to spend 76 billion naira this fiscal year to further revive the sector and ensure diversification of the economy.
Defending the ministry’s budget before the National Assembly joint committee on agriculture, on Thursday, the Minister of Agriculture, Audu Ogbeh, explained that 6.7 billion naira is for personnel costs, 202 million naira for overhead costs while 69 billion naira is for capital projects.
Mr Ogbeh further stated that the ministry would focus on the grading of rural roads to enhance accessibility of produce to the markets, land clearing, procurement of mini harvesters, establishment of ranches and grain reserves to ensure food security and job creation.
On the 2016 budget of the Ministry, Mr Ogbeh blamed the poor implementation on the late release of the appropriated funds.
According to the Minister, only 21.6 billion naira was released out of the 33.6 billion naira appropriated for the Ministry last year.