Investor Presentaiton

Policy reforms in the Agriculture sector Agricultural transformation Agenda (2011-2015) 2 In 2010, the FG saw the need to restart the clock of agriculture in a sustainable way by introducing private sector led strategies. This was anticipated to make the sector more productive, efficient and effective. The broad objectives include 1. creates 3.5 million jobs, 2. generates foreign earnings 3. cut down spending on food importation Among other achievements recorded, the policy was able to improve farmers access to fertilizer and seeds. The Agricultural Promotion policy (2016-2020) 1 Having assessed the progress of the Agricultural Transformation Agenda (ATA) implemented from 2011 to 2015, the FG identified two major gaps that required urgent attention, which include prolonged significant food importation and low foreign earnings from agriculture. This birthed the APP in 2016. Consequently, food importation declined in 2016(as due to recession) and 2018 by 10% and 9%, respectively. Economic Recovery and growth plan (ERGP), 2017-2020 3 Among the five key execution priorities of the ERGP, achieving agriculture and food security was one of the major focus Plans were made to ensure the nation is self-sufficient in tomatoes by 2017, rice by 2018 and wheat by 2019/2020. hence, Nigeria is expected to be net exporter of key agricultural products(rice, cashew nuts, groundnuts, cassava and vegetable oil) by 2020 CBN intervention programmes 4 The programmes include: The Anchor Borrowers programme Listing of more items to forex restriction Nigeria Incentive-Based Risk Sharing System for Agricultural Lending (NIRSAL Plc.) https://agra.org/wp-content/uploads/2018/10/AASR-2018.pdf Unlocking productivity across Nigeria's agribusiness value-chain PwC https://www.tralac.org/images/docs/10154/nigeria-agriculture-promotion-policy-2016-2020.pdf February 2020

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