This memorandum is divided into 2 parts of 9 sections. The first section is the introduction which deals with the background, the rationale for the exercise and outlining linkages between the Medium Term Sector Strategies (MTSS), Medium Term Expenditure Framework and the annual budget. It further identified high level national and international policies and standards on Agriculture and concluded with the delineation of the structure of the sector in Nigeria.
Section 2 is on the key challenges of the sector and laying out goals, objectives and targets based on the high level national and international policies and standards. Section 3 reviews existing budget commitments 2013-2017 and identifies low budgetary allocation to the sector, late and partial release of appropriated funds and defines the capital recurrent expenditure mix. Section 4 is on key Agriculture sector achievements in the past decade whilst section 5 is MDA projects and activities that should be sustained. Section 6 is on the sector projects that are performing poorly while section 7 deals with other Agriculture sector challenges.
Part 2 contains sections 8 and 9. Section 8 is about activities and interventions proposed for the medium term. This includes the review of the special window for Agriculture financing, issuance of green bonds, tapping into the climate change financing mechanism, promotion of cooperatives, and full implementation of the Agriculture Promotion Policy (APP) and reduction of post-harvest losses. Others are investments in agro forestry, provision of alternative domestic fuel for poor households, use of resistant and genetically improved animals and crops, creating dedicated pastures for grazing, soil and nutrient management. It further discusses the policy, plan, budget continuum, formation of sector teams for future budget planning, adoption of best practices in public procurement and renewable energy and Agriculture establishments’ energy access. Part 9 is the concluding part which is about the summary of policy recommendations. The recommendations are detailed as follows.
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