Oil Export Insufficiency: President Buhari advocates time to go back to agriculture.

Abuja (State House Press Report)

President Muhammadu Buhari has on Friday August 7, 2015 in Abuja said that the time has come for Nigerians to do more than pay mere lip service to agriculture as crude oil and gas exports will no longer be sufficient as the country's major revenue earner.

President Buhari made the declaration at an audience with Kanayo Nwanze (Dr), who is the Nigerian born President of the International Fund for Agricultural Development (IFAD) at the Presidential Villa.

"It's time to go back to the land. We must face the reality that the petroleum we had depended on for so long will no longer suffice.

We campaigned heavily on agriculture and we are ready to assist as many as want to go into agricultural ventures," the President said.

Muhammadu Buhari pledged that his administration will also cut short the long bureaucratic processes that Nigerian farmers had to go through to get assistance from the Government. Adding, improvement of the productivity of farmers, dry season farming and creative ways to combat the shrinking of the Lake Chad will also receive the attention of his administration.

"There is so much to be done. We will try and articulate a programme and consult organizations like IFAD for advise. Foreign exchange will be conserved for machinery and other items needed for production instead of using it to import things like toothpicks," the President said.

Kanayo Nwanze in his remarks at the occasion, congratulated President Buhari on his victory at the general elections and assured him that IFAD is ready to give all possible assistance to the Federal Government and Nigerian farmers to boost agricultural production in the country.

He also noted that IFAD is an international organization dedicated to addressing issues of agriculture and poverty alleviation. It was established in 1978, and has been collaborating with Nigeria for over 30 years

Source: http://fmi.gov.ng/latest/55007/