The Federal Government on Wednesday in Abuja banned any direct purchase of farm produce involving indigenous farmers and foreign nationals.
The new regulation which is to ensure that Nigerian farmers are not short-changed now mandates all foreign nationals to go through licensed local buying agents to do business with the farmers.
The Minister of Trade and Investment, Niyi Adebayo, disclosed this to State House correspondents shortly after the weekly virtual Federal Executive Council meeting presided over by Vice President Yemi Osinbajo at the council chambers of the Presidential Villa, Abuja.
According to him, the Federal Government has okayed appropriate mechanisms to ensure competitive prices for commodities of indigenous farmers in a bid to protect them from exploitation and also ensure that they have the appropriate incentives to guarantee their continued participation in their trade.
Adebayo said he presented two memos on behalf of his ministry; one of which was for the promotion of agribusiness in Nigeria through the right farm gate pricing and ban on foreign nationals and their representatives from purchasing agricultural commodities at the farm gates.
He said, “We finally got approval from FEC today for only licensed local buying agents who must be registered by the relevant national commodity associations, they are the ones who now will be able to buy goods directly from the farmers and sell to the foreigners. This way, the farmers will no longer be cheated by these foreigners who just throw money at them and can buy their goods.”
The minister also disclosed that he presented another memo to FEC for the approval of the Trade Policy Action Plan themed “Unleashing Nigeria’s Development Potentials through Trade and Investment.”
He said the action plan also approved by council was formulated to utilise trade as another means of generating revenue outside oil whose revenue is plummeting.
“The whole idea is that because we’re not making as much money as we used to from the sale of oil, and because of reduction in the money that comes from that aspect of Nigeria’s revenue generation, we want to utilize trade as a means of generating revenue for the country.”
He explained that the ministry would now inaugurate a committee to look into the existing trade policy which was last updated in 2002. He added that the ministry would also draft an investment policy. Both policies would be ready before the end of 2022, he affirmed.
On his part, Minister of Communications and Digital Economy, Dr Isa Pantami, said FEC approved the introduction of another layer of quality assurance certificate in government digital services above the N1bn mark.
He revealed that before now, all federal public institutions had been mandated by law to obtain IT project clearance before embarking on any information technology project.
Pantami said “There are so many benefits of that, this is provided for in NITDA Act 2007, Section 6, under Article A and the federal government has re-emphasized that through a circular on 31st August 2018.
“So many federal public institutions have been complying with this and the report is very commendable. We presented the report before the Federal Executive Council today. The report covers January 1, 2021, to December 31, 2021. This is a copy of the report; IT Project Clearance Performance Report for Government Digital Services 2021.
