Adebayo Obajemu
The Minister of Agriculture and Rural Development, Dr. Mohammad Abubakar, has said that the Federal Government of Nigeria has approved 5 years tax break for agricultural production and processing in Nigeria.
Other incentives include: tax-free agricultural loans with a moratorium period of over 18 months and repayment period of not more than seven years; and zero-tariff rates on the importation of agro chemicals.
With these,the federal government expected a boost in agriculture and agro-allied industry, but analysts have argued that the first issue to address is the lingering security challenge which has made it difficult for farmers to return to their farmlands as a result of incessant attacks by bandits and Fulani herdsmen.