The Youth Employment in Agriculture Programme is a youth-led initiative to get youths involved in agriculture by forging a plan that would create the next “Nagropreneurs’’ in the country. To this end, the FMARD has established in the last one year a Youth Department which coordinates all YEAP activities and ensures that there is proper monitoring and evaluation of impact.
The Fund for Agricultural Financing in Nigeria is an innovative initiative, designed to transform the agriculture finance landscape in Nigeria, given the strategic importance of agriculture to the Nigeria economy, FAFIN aims at catalyzing an agriculture-led inclusive economic growth through innovative financial support for agricultural productivity, value-added processing and market linkages. The Funds will be assessed by agricultural smallholders and SME’s.
The government also launched a fund that would finance agriculture in Nigeria, creating an opportunity for young Nigerians to access finance for agricultural ventures. The two programmes launched are targeted at reaching up to 750,000 Nigerian units over five years with financial support to enable them establish and run wealth creating agribusiness enterprises as Nigeria is making efforts to diversify its economy that has depended hugely on revenues generated from sales of crude oil. The diversification of the economy has become a priority of the government at a time that the price of crude has continued to drop.
Prior to the discovery of crude in Nigeria, agriculture has been the mainstay of the economy of the nation, with large arable land left uncultivated. Unemployment among youths has been identified as one of the biggest challenges facing Nigeria and for the President, time has come to create jobs and lay a new foundation for Nigeria’s economy to grow.
Also, the Ministry of Agriculture has mapped out over $15 million investments, with the support of other world bodies like the German Development Bank, and the Nigerian Sovereign Investment Authority while the Federal Government has promised to create the enabling environment for the Nigerian youths to grab the opportunity.