Agric Sector Records $12bn Post-harvest Losses Yearly – Fed Govt
The post-harvest losses recorded in Nigeria’s agriculture sector annually is currently about $12bn, the Federal Government said on Thursday.
It disclosed this in Abuja through its Nigeria Incentive-Based Risk Sharing System for Agricultural Lending, during the breakfast meeting on the development of a Secured Agricultural Transport and Storage Corridor Policy.
It, however, stated that the SATS-C was expected to combat post-harvest losses, create jobs and boost the contribution of the agriculture sector to Nigeria’s Gross Domestic Product.
It said the SATS-C was currently a policy document being prepared for executive consideration by the Federal Ministry of Industry, Trade and Investment, as the FMITI was at the stakeholder identification and engagement stage.
At the meeting in Abuja, the Managing Director, NIRSAL, Aliyu Abdulhameed, told journalists that a fully operational SATS-C policy could directly lead to a five per cent increase in the agriculture sector’s contribution to the GDP by halving annual post-harvest losses of $12bn.
He explained that the policy would help reduce food prices, create 125,600 direct and indirect jobs and increase the possibility of adhering to standards for improved access to export, industrial and consumer markets.