Niger has capacity to produce food for Africa —Osinbajo

ACTING President Yemi Osinbajo says that Niger has the capacity to produce assorted food crops that will feed the African continent.

Osinbajo said this when he declared open a two-day Niger State Economic Submit with the theme: ‘Impact investment for advancing agricultural economy and innovation’ in Minna, Niger State capital.

The conference, which attracted economic experts, industrialists and manufacturers as well as some state governors across the country, was organised to attract investors in various fields to boost the state’s economy.

He commended Governor Abubakar Bello for organising the conference, noting that it would assist in attracting various investors, especially in the agricultural sector.

The acting president called on state governments to assist farmers with alternative sources of power, to enable them process and preserve their farm produce.

He said that the Federal Government was ready to partner with state governments willing to rehabilitate federal infrastructure in their areas.

“Niger State government is collaborating with the Federal Government to complete Baro Port,” the acting president said.

Osinbajo said that such projects would create enabling environment for business activities to thrive in the national economy.

He said that Niger State was hosting three major hydro dams, adding that renewable energy was the way forward to increase the capacity of villagers and farmers for agricultural investment.

Osinbajo said there was also the need to improve on roads infrastructure for enhanced agricultural development in the state.

Chairman of the occasion and former civilian president, Chief Olusegun Obasanjo, said that crude oil and solid mineral resources could not get Nigeria out of the present economic recession, arguing that it is only agriculture that can take the country out of economic doldrums and create the needed jobs for the youth.

He also urged the banking sector to lend to those in agric business at single digit interest rate.

“Double digit interest rate is the cause of agricultural failure in Nigeria. The only business that the double digit interest rate is capable of promoting is Cocaine business. Lawmakers should assist the executive arm of government in providing adequate fund for agricultural projects in the annual budgetary allocations.

“But the idea of turning budget provision into constituency projects by lawmakers is no other thing but corruption which must be discontinued,” he declared.

Earlier, Governor Bello said that the state had large deposits of natural resources ranging from hydro carbon at the Bida Basin, gold, copper, tin, iron ore, tantalite, Kaoline and clay.