The Federal Government of Nigeria in collaboration with the Nigeria Agricultural mechanization & Equipment Leasing Company (NAMEL) has reveal plans to inject no fewer than 10,000 tractors to the country’s agricultural sector.
The development is as a result of the president Mohammedu Buhari’s led federal government commitment to boast agriculture and increase agro productivity in the country.
Recall that, Chief Audu Ogbeh, the Honourable minister of Agriculture and Rural Development (FMARD) earlier while signing the Memorandum of Agreement (MoA) between his ministry and NAMEL said “The government cannot manage a tractor hiring business effectively as a PPP initiative such as this NAMEL-MSPs. We are giving NAMEL every support to ensure they succeed. And let me reiterate that until we sort out our food production problem, nothing will work” he said.
Dr. Ahmed Adekunle, the Chief Executive Officer (CEO) of NAMEL who also signed MoA with tractor manufacturer, John Deere, Tractor Owners & Operators Association of Nigeria (TOOAN) and Tractor Owners & Hiring Facilities Association of Nigeria (TOHFAN) on a private sector-driven mechanization programme while reacting to the development extolled president Buhari for his approval to work with the MSPs in it’s eco-system to deploy the 10,000 tractors to Nigeria farmers through his company (NAMEL).
In his words: “The President and the Minister of Agriculture lamented that the government is tired of buying tractors that keeps disappearing but at the same time, we must mechanize.
“That is why NAMEL was asked to identify successful bodies who can manage tractors very well and return guarantee on investment on both sides of the government and the private sector.
“Our MSPs including TOOAN and TOHFAN are successful managers with financial credibilities in single obligation of between 1 to 5 billion naira with no default.
“The approval we got from Mr President is to work with these MSPs to deploy 10,000 units of tractors to the farmers nationwide”. he said.
Dr. Ahmed went further to say that President Buhari also approved 35% bridging finance bringing while 25% of the 35% bridged stands as a grant as he assure Nigerians to expect more mechanisation equipment at a very low cost as NAMEL is currently negotiating with manufacturers of agro-machineries, donor agencies and development partners to see how equipment can be leased out at less than 2 million Naira.
The CEO expressed satisfaction with the capacity of the Minister of Agriculture and Rural Development, Chief Audu and the president Buahri led government for the revolution in the Agricultural sector.
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