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Reps back Food Security Fund

National Mirror - March 5, 2015

The House of Representatives on Tuesday approved a proposal for the establishment of a Food Security Fund to deepen the Agriculture sector in the country and divert government’s sole concentration on the oil and gas sector.
The Food Security Fund Bill is sponsored by Hon. Kaka Gujbawu(PDP-Borno). The Bill which was unanimously endorsed and referred to House Committees on Finance and Agriculture, seeks a deeper exploration of the Agriculture sector with a view to improving yields, adopting mechanised and mass production of food and ultimately expanding and revitalising the fast shrinking Nigerian economy.
The mono-economy of the country continues to dip in the wake of global falling oil prices. Despite being the 6th largest exporter of oil, the country is facing it’s toughest time, trying to balance budgets and fund major capital projects.
While contributing the bill, the Deputy Leader of the House, Hon. Leo Ogor (Delta-PDP), decried the sliding capacity of the country to feed itself.
He regretted that Nigeria was still importing food, despite its potentials to be a leading consumer and exporter of raw Agricultural products.
He advised that if implemented, the Food Security Fund would help the country to diversify and provide alternative to the oil sector. Hon. Abdulrahman Terab(PDP-Borno) also advised that the approval for the setting up of the fund be granted as soon as the Bill is passed into law.


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