Agribusiness
FG bans foreigners from buying agric produce directly from farmers
The Federal Government has approved the establishment of an appropriate mechanism that would not only protect the indigenous farmers in terms of achieving the right prices for their goods and commodities but also ensure that they have the appropriate incentives and the needed encouragement to guarantee their continued participation in the farming business.
The approval was aimed towards ensuring that Nigerian farmers are no longer cheated in the purchase of their farm produce by foreigners who will now have to go through licensed local buying agents to do business with the farmers.
The Minister of Trade and Investment, Otunba Niyi Adebayo, disclosed this while briefing State House correspondents at the end of the virtual Federal Executive Council, FEC, meeting presided over by Vice President Yemi Osinbajo at the Council Chambers, Presidential Villa, Abuja.
The Minister said he presented two memos on behalf of his ministry before the council, explaining that one of which was the promotion of agribusiness in Nigeria through right farm gate pricing and ban on foreigners and their representatives from purchasing agricultural commodities at the farm gates.
He explained that over the years, foreigners have been going to the farm gates to buy produce from the farmers at low prices, thus discouraging the farmers from continuing with their trade.
According to him, “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 are able to buy their goods.”
