IN what seems an endorsement of Nigeria’s new policy in the agricultural sector as recently enunciated by the Federal Ministry of Agriculture, G20 leaders are offering the country new initiatives in the sector, which could help spur economic growth in the nation and on the African continent.

Although Nigeria has not been invited to join the G20 group of countries, which ended a two-day summit late last week in Cannes, France, the nation’s agricultural sector may be benefiting from two new agricultural initiatives of the leaders.

In a 95-point Final Declaration by the G20 released at the weekend by White House Press Secretary, Jay Carney, the leaders stated that Nigeria is one of the countries that will enjoy increase in agric productivity through a joint research programme with interested G20 countries.

According to the declaration, the group’s Agriculture Ministers’ Action Plan is emphasizing “increasing agricultural productivity through a joint research initiative with interested G20 countries, (including the U.S.) universities and the private sector, aimed at sustainably increasing wheat production through the development of new seed strains.”

It added that the G20 action is consistent with and amplifies the impact of U.S. efforts through Feed the Future that apply a renewed focus on research and development towards improving food security and long-term development of the agricultural sector.

Citing an example, the declaration noted that “in a public-private partnership to develop stress tolerant rice varieties for sub-Saharan Africa, the United States Agency for International Development (USAID) is engaging research institutions from Ghana, Uganda, Nigeria and other countries and building the capacity of their staff to use biotechnology tools for improving crops.”

Similarly, the G20 countries have also expressed commitment “to improving market information and transparency in order to make international markets for agricultural commodities more effective.”

To that end, the declaration continued that the G20 countries had launched the “Agricultural Market Information System (AMIS) in Rome on September 15, 2011, to improve information on markets. It will enhance the quality, reliability, accuracy, timeliness and comparability of food market outlook information.

As a first step, AMIS will focus its work on four major crops: wheat, maize, rice and soybeans and Nigeria is one of the seven non-G20 countries that will benefit from the system which World Bank officials confirmed at the weekend is also aimed at ensuring that speculation of food prices is curtailed.

But efforts by the Federal Government to join the group is yet to yield fruits even though Nigeria’s economy is expected to be one of the leading emerging markets in the world within the next decade. Finance Minister and Coordinating Minister of the Economy, Dr. Ngozi Okonjo-Iweala, in her capacity as World Bank president, had been an active advocate for Nigeria’s admission into the G20.

-Guardian

Posted by admin on Nov 8 2011. Filed under Africa & World Politics, Headlines. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry