Dr. Afriyie Akoto said the fund could be used to mitigate the plight of farmers in distressed times, like recently where some farmers have been calling for the government’s financial support after their farms were ravaged by armyworms.

In the heat of the armyworm crisis, the government had to release GHc 16 million to combat the pests.

Speaking during a meeting with farmers, Dr. Afriyie Akoto proposed that part of the oil revenue should be used for such a venture.

“I have a very strong belief that we should use those resources [oil revenue] to fund agriculture so your special Agric fund, that is where I am looking to and I want you to help me to direct this to Mr. President,” Dr. Afriyie Akoto said to the farmers.

This is something the Minister noted he pushed for when he was a Member of Parliament for eight years.

He argued further that investing in agriculture aligned with the New Patriotic Party government’s agenda for jobs.

“We should have a significant portion of our oil and gas revenue to set up an agriculture fund. Oil and gas will not give you employment. It will give you the cash, but it won’t give you the employment Ghana desperately needs for our young people.”

“… So we need to exploit and make sure that we have a conscious effort to put a substantial portion of that [oil] revenue aside to support our agriculture and that is the only way we will get out of this problem [of unemployment].”

The 2017 budget earmarked about GHc 450.33 million for the agriculture sector.

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By: Sammi Wiafe/Delali Adogla-Bessa/citifmonline.com/Ghana

The post Set up special Agric fund from oil money – Minister appeared first on Citi 97.3 FM - Relevant Radio. Always.

According to him, the lack of infrastructure development to target agriculture, is the cause of low FDI in the sector, since investors will put funds in areas that will give them good returns.

Answering questions at the Appointments Committee of Parliament, Dr. Afriyie-Akoto criticized the Mahama-led administration for neglecting the agriculture sector resulting in decline in output.

“The government of President Akufo-Addo is determined to make agriculture a priority sector in terms of public investment. Already we are attracting the world’s attention,” he said.

He disclosed that, works are already underway to host some foreign investors in the sector, due to assurances given by the government.

“Last week, a group came from South Africa, I sent them out to the field to Afram plains, to Kintampo and other places and they came back very excited based on the assurances that I gave them that this government is going to support the sector with infrastructure, roads and so on and all that, and they are coming back with a boat load of cattle, young cattle, sheep and goat,” he said.

“Not only that, people have come from America, they are very interested to invest based on what they have heard that we are doing and determined to do,” he added.

He blamed the Mahama-led government for eroding the interest of investors in the sector due to declining infrastructure development.

Dr. Akoto-Afriyie pointed out that, the figures since the tenure of the former government, have reflected decline due to neglect.

“…Off course, all the resources that I required in terms of the last 8 years when the government of the NDC took over nearly 4 % of total allocation of budget was going to the Ministry of Food and Agriculture for agriculture development. That figure has steadily declined to 1.1% in 2014 and 2015,” he said.

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By: Lawrence Segbefia/citibusinessnews.com/Ghana

The post We’ll invest heavily in agric – Dr. Afriyie-Akoto appeared first on Citi 97.3 FM - Relevant Radio. Always.

Speaking at the 68th Annual New Year School at the University of Ghana today [Monday], he noted that agriculture remains the anchor of the economy, but lamented the decline of the sector in recent years.

“…Growth in this sector [Agriculture] has declined dramatically. Food is unnecessarily expensive in a country that is blessed with fertile land. Our production methods are not modern and income levels of farmers and fisher folk remain low,” he stated.

This decline as made the “sector unattractive to the youth as a viable means of livelihood,” President Akufo-Addo stated.

However, President Akufo-Addo indicated that, his administration’s vision for the next four years, “is to modernize  agriculture, improve production efficiency, and achieve food security and profitability for our farmers.”

“District assemblies and traditional authorities will be assigned specific roles in agriculture development and we will adopt policies specifically targeted at supporting women in agriculture,” he added.

‘Planting for food and jobs’

Government is also set to launch a campaign themed ‘Planting for food and jobs’.

Citi News’ Caleb Kudah reported that, the Minister for agriculture nominee, Dr. Owusu Afriyie Akoto, made this known at the New Year School.

According to Dr. Afriyie Akoto, the programme, which is scheduled to take off in March 2017, the start of the next farming season, will create over 750,000 jobs for the youth.

Government’s plan is to have the programme make use of information technology to drive national food security and ensure improved income for farmers.

Government also plans to give incentives to prisons, universities and state institutions to have their own farms.

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By: Delali Adogla-Bessa/citifmonline.com/Ghana

The post We’ll partner traditional leaders to boost agric – Nana Addo appeared first on Citi 97.3 FM - Relevant Radio. Always.