President Bola Tinubu directs NADF to deploy 10,000 John Deere tractors to boost food production, with 2,000 units arriving in 2025 as part of a major agricultural mechanization initiative. ABUJA – President Bola Ahmed Tinubu has instructed the National Agricultural Development Fund (NADF) to lead the distribution of 10,000 John Deere tractors across Nigeria, aiming to significantly enhance food production and mechanization. The initial phase will involve the delivery of 2,000 tractors starting between Q1 and Q2 of 2025, with plans to expand to the full 10,000 units over the next five years. During the signing of a Memorandum of Understanding (MoU) with John Deere at the Federal Ministry of Agriculture and Food Security in Abuja, NADF’s Executive Secretary, Mohammed Ibrahim, confirmed that the first batch of tractors will arrive at Lagos port before the wet farming season begins. He emphasized that NADF has been entrusted to implement one of the Federal Government’s mechanization initiatives under President Tinubu’s leadership, designed to diversify the economy and modernize agriculture. Ibrahim detailed that after receiving Federal Executive Council approval in October 2024, NADF engaged in thorough negotiations with John Deere and consulted stakeholders through international mechanization partner Haifa to ensure effective implementation. To expedite the process, NADF has also finalized an MoU with the Nigerian Ports Authority (NPA). This agreement will facilitate the establishment of an assembly plant near the ports, ensuring smooth distribution across the country. Engr. Okoli Chijioke, Country Director of AGCOMS International Trading Limited, the sub-dealer of John Deere tractors in Nigeria, disclosed that the MoU is valued at $70 million for the procurement of the initial 2,000 tractors. He highlighted the importance of the assembly plant in not only facilitating the delivery but also equipping Nigerian youth with the skills to maintain and assemble the machinery for long-term productivity. Minister of Agriculture and Food Security, Sen. Abubakar Kyari, praised NADF for securing the MoU with AGCOMS and reaffirmed the Federal Executive Council’s commitment to supporting the mechanization drive. He encouraged NADF to ensure timely distribution of the tractors before the wet season, emphasizing the potential to attract young Nigerians to agribusiness. READ ALSO: Follow the LMSINT MEDIA channel on WhatsApp: Join Our WhatsApp Group Hear: Chat on WhatsApp Join our Telegram Chanel.
The cost of locally grown paddy rice is projected to rise by about 55% during the 2024/2025 season, further intensifying the already high cost of living, according to a new report. The Afex Wet Season Crop Production 2024 report, obtained by Nairametrics, reveals a consistent upward trend in rice prices. It notes that during the 2023/2024 season, rice prices surged by 78%, with the average price reaching N630,000 per metric ton. This sharp increase was attributed to supply shortages and growing demand, which outstripped available stock. The report also predicts another price hike of approximately 55% for the upcoming season. This increase is largely driven by the high starting price of around N750,000 per metric ton for the 2024/2025 season, which reflects ongoing supply constraints. By the third quarter of 2025, the price of paddy rice is expected to rise further, reaching between N1,100,000 and N1,300,000 per metric ton. Several factors are contributing to this price surge, including: These factors combined have pushed up the cost of rice in 2024. While the federal government has imposed restrictions on rice imports, some Nigerians believe these measures may help bring down food prices. However, data from the National Bureau of Statistics (NBS) shows that food inflation in Nigeria has risen to 39.16% year-on-year. In response, the government has waived import duties on certain food items, including wheat, maize, brown rice, and beans, to help control food costs. Nigeria’s rice production reached around five million metric tonnes in 2023, but this still covers only about 60% of the country’s consumption needs. The shortfall has led to illegal rice imports, further driving up market prices. Despite significant government investments, including the N1.1 trillion Anchor Borrowers’ Programme, rice prices have risen sharply between 2016 and 2023. READ ALSO; Inibehe Effiong Calls for Adeboye’s Retirement Over ‘God Saved Naira’ Statement
