President Goodluck Jonathan has approved N10billion for the Federal Ministry of Agriculture and Rural Development’s Cassava Bread Fund.
The Minister of Agriculture, Dr. Akinwumi Adesina, disclosed the details of the approval at a meeting organised for directors and value-chain leaders of the ministry to enable them give account of their stewardship in the last one year.
Adesina, in a statement signed by the Acting Director, Press/Public Relations in the ministry, Mr. Greyne Anosike, said the President had also agreed to inaugurate the Youth Employment Programme, an initiative aimed at creating jobs through the agricultural value chains.
The minister had last week hinted that Jonathan had agreed to consider the N10bn request for the Cassava Bread Fund.
“This will be a year of greater success for Nigeria’s agriculture. We have the support of Mr. President to turn around the cassava sector. He has graciously agreed to consider our initial request of close to N10bn cassava fund to further explore the potential of the cassava industry,” he said.
Adesina said the fund would be used to support research and development efforts on cassava bread, training of master bakers and support the bakers in the acquisition of new equipment for the production of cassava bread.
He explained that the approval of the fund was apt as it would enhance the cassava Growth Enhancement Support scheme.