2025 Budget: FG Allocates N2 Billion for Land Clearing, N200 Million for Preparation
Legit.ng journalist Victor Enengedi has over a decade's experience covering Energy, MSMEs, Technology and the Stock Market.
The Federal Government has earmarked N2 billion for the National Agricultural Land Development Authority (NALDA) to clear land for farming activities in select states.
Additionally, N200 million has been allocated for land preparation on NALDA farms in states yet to be specified.
It would be recalled that President Bola Tinubu submitted a N47.9 trillion 2025 Appropriation Bill to the National Assembly on Thursday, November 14, 2024.
Source: UGC
As regards the amount appropriated for NALDA activities, N100 million is set aside for digging trenches on farms.
Another proposal includes N80 million for purchasing seeds, fertilizers, agrochemicals, and other farming inputs.
Similarly, N52.125 million has been allocated for the procurement of agricultural tools such as knapsacks, wheelbarrows, raincoats, rain boots, and safety boots.
The sum of N86.4 million is also allocated for the purchase of motorcycles and cargo tricycles to aid farm supervision in certain states.
In addition, N250 million has been allocated for the design and construction of a warehouse to store equipment and materials.
Separately, N22,496,266 has been set aside for the construction of farm hostels or housing units for farmers.
The budget also outlines plans to invest N250 million in promoting biodiversity and developing plantations for banana, teak, and cashew trees to boost yields and support food and fibre security.
In a similar development, the Joint National Assembly Committee on Solid Minerals has turned down the proposed N9 billion capital budget allocated to the mining sector in the 2025 budget.
The committee argued that the allocation is significantly insufficient to establish solid minerals as a key pillar in the nation's economic diversification efforts.
NASS rejects 2025 solid minerals budget
In a similar development, the Joint National Assembly Committee on Solid Minerals has rejected the proposed N9 billion capital budget allocated to the mining sector in the 2025 budget.
This follows the National Assembly's reduction of the ministry's proposed N531 billion 2025 capital expenditure to N9 billion.
The committee argued that the allocation is significantly insufficient to establish solid minerals as a key pillar in the nation's economic diversification efforts.
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Source: Legit.ng
