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

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