Minister of Budget and National Planning, Senator Udo Udoma, has made it known that Nigeria needs over 100,000 tractors to achieve production targets in the agricultural sector.
He made the statement at the inauguration of the Higher Institution Tractorization Initiative in Abuja; a joint Initiative between Nigeria Agricultural Mechanization Local Content Support Initiative, University of Nigeria, Nsukka and Hightech System Limited.
The Minister, who was represented by the Director, Economic Growth, Kayode Obasa, said, “The Federal Government has made agriculture one of the six key priority sectors under the Economic Recovery Growth Plan.”
He further said: “Based on the alternative estimates, Nigeria needs to add over 100,000 tractors as equipment over the coming five to eight years in order to achieve its production targets”.
The Minister said the FG acknowledges the strategic role agriculture play in national development hence the reason for diversification of the economy.