In President Bola Ahmed Tinubu’s inaugural address on May 29, 2023, he touched upon several key areas related to agriculture in Nigeria. Here are the excerpts that deal with agriculture and related sectors:

1. Economic Growth and Job Creation:
   – The administration targets higher GDP growth and significant reduction in unemployment.
   – Budgetary reform stimulating the economy without engendering inflation will be instituted.
   – Industrial policy will promote domestic manufacturing and lessen import dependency.
   – One million new jobs in the digital economy will be created.

2. Agriculture:
   – Rural incomes will be secured through commodity exchange boards guaranteeing minimal prices for certain crops and animal products.
   – Nationwide programs for storage and facilities to reduce spoilage and waste will be undertaken.
   – Agricultural hubs will be created throughout the nation to increase production and engage in value-added processing.
   – The livestock sector will be introduced to modern practices, and steps will be taken to minimize conflicts over land and water resources.
   – Food production will be increased, and steps will be taken to make food more abundant and less costly.
   – Farmers’ earnings will increase while the average Nigerian pays less for food.

3. Infrastructure:
   – The administration will prioritize progress in national networks of roads, rail, and ports.
   – Investments in infrastructure will contribute to job creation and economic growth.

4. Fuel Subsidy:
   – The administration commends the decision to phase out the petrol subsidy regime, redirecting funds into public infrastructure, education, healthcare, and job creation.

5. Monetary Policy:
   – The Central Bank will work towards a unified exchange rate and reduce interest rates to increase investment and consumer purchasing power.
   – The currency swap policy will be reviewed, and both currencies will be treated as legal tender in the meantime.

These excerpts from President Tinubu’s address highlight the importance of agriculture in Nigeria’s economic development and the government’s commitment to improving the sector through various initiatives. The focus on job creation, food security, value addition, and infrastructure development demonstrates the administration’s dedication to promoting sustainable agriculture and driving economic growth in the country.

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