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I am Best Networks gathered that the federal government has prepared 7 trillion naira for 2017 but the vice president said its not going to be enough because Nigeria is much in need…
read what Daily trust reported

President Yemi Osinbajo yesterday confirmed that the Federal Government
has proposed about N7 trillion as budget estimate for the 2017 fiscal
year but said it could not make a huge difference in a N90 trillion
economy like Nigeria’s.

Daily Trust reported on Thursday that President Muhammadu Buhari proposed a N7.2 trillion budget for 2017.

yesterday after visiting two agricultural factories in Sagamu, Ogun
State, Osinbajo said the Federal Government believed very strongly that
it could not deliver on its economic agenda without a serious
partnership with the private sector.

He stated: “Our entire budget
size for 2016 is something in the order of just over N6 trillion, and
we will probably be moving to about N7 trillion in the 2017 budget. But
N7 trillion is certainly not the kind of money. It does sound like a
fair amount of money, but certainly, it is not the kind of size that can
really make a huge difference in a N90 trillion economy such as we

the real issue is that the contribution of the Federal Government is
catalytic, the Federal Government can only make some catalytic
contributions in terms of infrastructure and some incentives for the
private sector.

real contribution is going to come from the private sector and that is
why these partnerships are absolutely important to us, and what we are
looking at is some game-changing type of projects, such as we have here.
The types of projects that can make a real difference, because when we
are talking about backward integration, the whole rural value chain.”

vice president said President Buhari had talked very much about
diversifying the economy as a way out of the current recession, saying
“It’s the right and proper thing to do for the country.”

said: “When we’re saying agriculture is the way to go, from
agriculture, we can employ a lot of people and then the whole value
chain, from farm to table; we can do so much. That requires serious
investment, it requires the types of enterprises where significant
amounts of resources will have to come, in order to make that
difference. So, we’re trying to partner with the kinds of serious
investors, serious businesses that can really make a difference.

I think that this project is one such investment that I believe will
make a significant difference. From listening here  today, especially
all about the local products, the crops and grains that are going to be
used in this factory; Sourgum, the feed mill factory, wheat; all these
are for us right on point. With some of what we’re getting, the better
yields coming from the wheat that we see today, we think that what
you’re doing is going to be really tied to that, because we must be
self-sufficient, even in wheat production.

thought that was impossible a few years ago, but what we’re seeing now
is that there are actually better yielding seeds that we can lay our
hands upon, that can increase the yield, especially in wheat, and I
think that this tied very well with that. At the moment, there is a
shortage of animal feed everywhere, especially because of the shortage
of maize. So, the feed mill is going to be absolutely important in
achieving some of our objectives.

sorghum mill is really a big attraction, so we think that what you are
doing is really spot on, it’s really the right way to go and we’re
committed to supporting the Honeywell Group in ensuring that this
happens and we’ll do all that’s required to make sure that this projects
succeeds. We think that there are very very important synergies with
other areas of the economy as well and we naturally expect that lots of
jobs will come from this, as that is important to us here will be plenty
of industrial opportunities, quality jobs that’ll mean more taxes as

Source: Daily Trust

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