The Federal Government has Inaugurated a Technical Committee on the Promotion of Agribusiness In Nigeria Through Right Farm Gate Pricing and Ban of Foreigners From Purchasing Agricultural Commodities at Farm- Gates.
Speaking at the inauguration ceremony in Abuja, the Minister of Industry, Trade and Investment, Richard Adebayo says the move was to address challenges impeding the development of the agricultural commodity subsector of the economy by curtailing unfair trade malpractices and exploitation of Nigerian farmers by foreigners.
He said the effort will also promote competitive premium pricing as aimpetus for increased productivity in the commodity subsector among other benefits.
The Minister also mandated the technical committee to work within its terms of reference to come up with appropriate implementation mechanism and guidelines for implementing the approved FEC Memo.
The Chairman of the committee who is also the Director, Commodities and Export Department, FMITI, Suleman Audu assured of their commitment to ensure that the mandate given to them will be met for the overall benefit of the nation.
The sixteen man inter-ministerial committee is expected to carryout quarterly assessment on the implementation of their mandates as well as submit progress report to the Minister.
