Policies and legislation for transformation and also Key policies for success by the Ministry of Agriculture and Forestry.

The following policies below are highlighted:

  • Fiscal Policies
  • Domestic Content for Food (Enabling Legislations)
  • Industrial Policies
  • Financial Service Policies
  • Agricultural Policies

Fiscal Policies

  • Zero tariffs (custom, excise and value added) for import of agricultural equipment and agro-processing equipment
  • Tax holidays for investors putting processing plants in staple crop processing zone
  • Increase tariff on any commodity that Nigeria can produce (rice, starch, sugar, wheat etc.) to promote domestic production and  local content
  • Current policy on import levy of 5% for brown rice and 30% for polished milled rice, and 5% on raw sugar and 10% on starches should be increased and revenue used to support domestic production
  • Supportive incentives for investors for blending plants for ethanol

Domestic Content for Food (Enabling Legislations)

  •     10% Cassava Flour substitution for bread wheat flour
  •     Blending 10% ethanol with petrol

Industrial Policies

  • Move gradually away from fertilizer consumption subsidies to support for local fertilizer manufacturing leveraging the gas industrialization policy (e.g., Nagajuna 1.4 mil MT plant)

Financial Service Policies

  • Incentives for access of farmers to weather index insurance
  • Remove the current monopoly on agricultural insurance by the National Agricultural Insurance Company and liberalize to allow private sector insurance companies

Agricultural Policies

  • Liberalize foundation seed policy to allow private sector to commercialize seeds

  • Eliminate government distribution of fertilizers and replace with private sector distribution

  • Move away from a flat fertilizer price subsidy to targeted support to small holder farmers

  • Incentives to engage young commercial farmers for farming as a business

  • Development of Agribusiness Entrepreneurship Centers

  • Farm skill acquisition centers

  • Access to land and finance

  • Create institutions to support the agricultural transformation agenda

  • Marketing Corporations, to replace marketing boards

  • Guaranteed minimum price for food crops to stabilize prices

  • Revise the Land Use Act to enable easier access to land for investors

  • Rapid expansion in irrigation facilities and revamping of existing ones