Abuja — Minister of Agriculture and Rural Development, Dr. Akinwumi Adesina, announced on Thursday that the implementation of the Agricultural Transformation Agenda (ATA) across the food value chain in the last three years has generated N777 billion to the Nigerian economy.
Speaking at the 2015 budget defence at the National Assembly in Abuja, Adesina said due to the massive food production in the country, the nation’s food import bill has significantly been on the decline.
He said 21.8million metric tonnes of food has been added to the domestic food supply within the period.
According to him, “the food import bill has gone down tremendously over the last three years.
“In 2011, our food import bill was N3.2trillion. In 2012, it came down to N2.3trillion. In 2013, it further went down to N1.9trillion.
“In 2014, it was N635billion. It was a decrease of 408 per cent. Despite the fact that there is a slump in the price of oil and devaluation of naira, it has not impacted negatively on the prices of food items in the country.
“As a result of various interventions across the food value chain, we have been able to add a total of 21million metric tonnes of food to the domestic supply.
“We have succeeded in adding N777 billion to the rural economy of Nigeria within three years.”
Adesina also told lawmakers that the Federal Ministry of Agriculture and Rural Development raised N4.6billion as internally generated revenue in two years, which has been paid to the Federation account.