The council of state has recommended that $1 billion be spent on agriculture.
The council meeting which was presided over by President Muhammadu Buhari increased the spending from $200 million to $1 billion on Thursday.
The funds will be disbursed through the Anchor Borrower and Commercial Agriculture Credit Scheme (CACS) Programmes.
This is geared towards encouraging diversification of the economy and promoting food security.
After the meeting, Ibikunle Amosun, governor of Ogun, told reporters that council advised that the country should grow what it needs.
“Council advised that we improve on the funding on agriculture. That the paltry sum of $200 million when compared to what is being pumped into the oil sector is insignificant,” Amosun said.
“Council recommended that at least about $1 billion be pumped into agriculture. Council noted how Nigeria moved the budget from about N4 trillion to now about N8 trillion. It also noted that when this president came in, he was jostling at a very deep end because oil had nose-dived from $112 in 2014 and in 2016 it was $30.
“Council also appreciated the efforts of the ministers of agriculture and budget and national planning after their briefings, on the efforts they are giving to Mr President and agreed they should continue on that path.
“Council advised that planting should be done all year round and not only during planting seasons and that we should grow what we will need, what we will eat and eat what we grow, the era of wasting our very scare foreign exchange on importing everything that we will need is over.”
On his part, Abubakar Badaru, governor of Jiagawa, said at the meeting, solutions were proffered to check activities of bandits.
“On the security situation in the country, we received a very long briefing by the national security adviser, ranging from farmers/herdsmen clashes, Boko Haram, militancy in the Niger Delta, kidnapping and cattle rustling,” he said.
“Farmers/herdsmen clashes were discussed thoroughly and we learnt that this takes three dimensions. First is the real farmers/herdsmen clashes, where the normal herdsman moves around with his cattle and get into a farmers land and eats up his crops. In some situations, it’s pure banditry. Some of the pastoralists that are not herders, attack, steal and kidnap and that has to be defined as such.
“Some of them rustle cattle move into the deep forests. And because of the thickness of the forests responds are usually very difficult. That was also discussed today and solutions were proffered on how to get deep into the forests, to check those bandits that hide and continue to commit havoc.”
Willie Obiano, governor of Anambra, said council approved appointment of two non-legal practitioners to the federal judicial service commission.