Improving investment frameworks for agriculture

 9. Improving investment frameworks for agriculture

Attract private sector to invest in the sector

 

Development of Staple Crop Processing Zones (SCPZ)

Fig 40: Sample Agro Processing Plant

 

  • Focus on attracting private sector agribusinesses to set up processing plants in zones of high food production, to process commodities into food products.
  • The government will enable this by putting in place appropriate fiscal, investment and infrastructure policies for staple crop processing zones:

a. Tax breaks on import of agricultural processing equipment
b. Tax holidays for food processors that locate in these zones
c. Supportive infrastructure, especially complimentary investment by the government in roads, logistics, storage facilities and power.

  • Infrastructure would focus on power, irrigation, flood control, roads, rail, air e.t.c.
  • Staple Crop Processing Zones will link farmers in clusters to food manufacturing plants.
  • Develop Agricultural Investment Code, in partnership with Ministry of Finance and Ministry of Trade and Investment and CBN
  • The location of Staple Crop Processing Zones will be dependent on a combination of State government support and an analysis of the comparative advantage of the region to produce the identified commodity.

 

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