(Ecofin Agency) - The Federal Government of Nigeria has approved a N750billion ($2.4 billion) agricultural intervention fund to drive the sector towards food sufficiency as well as diversify the economy. This was disclosed by the Deputy Governor of Plateau State, Sonni Tyoden.

According to the official, the fund should help boost agriculture by increasing the percentage of exploited arable land in the country which is currently at 40%. It will also be used to reduce food imports bill which is presently estimated at N1.3 trillion (6.5 billion).

Backing Tyoden, acting director general of the National Institute for Policy and Strategy Studies (NIPSS), Jonathan Juma, said developing science, technology and innovation are vital in order to turn the agricultural sector into a real business. He believes it will make Nigeria a major player in the food industry, help meet its demand and that of neighboring nations as well.

Anita Fatunji