Senate President, Dr. Ahmad Lawan has advised the federal government to deploy the Natural Resources Development Fund to support enterprises within the agriculture and solid minerals sector as a way of diversifying the nation’s economy.

Lawan made the call in his concluding remark after the upper legislative chamber considered for second reading, a bill seeking to develop tea and coffee growth, production, and marketing in Nigeria.

According to him, “the Natural Resources Development Fund is supposed to support such enterprises in diversifying the economy through the real sectors such as agriculture, solid mineral development, and so on.

“I believe that we have a way of ensuring that this bill and subsequent other bills would definitely help to improve and sustain our economy,” he said.

Earlier, the sponsor of the bill, Senator Yusuf Abubakar Yusuf (APC Taraba Central), said the Bill for An Act to provide for the establishment of the National Tea and Coffee Development Council, if passed into law by the National Assembly, would enhance rapid economy diversification of the agricultural sector, as well as enhance revenue to the government.

He noted that states like Taraba, Plateau, and Cross River in the South are endowed with suitable climate and soil conditions that could be harnessed for commercial cultivation of tea, especially around the Mambilla, Jos Plateau, and Obudu Range.

He added that “it is regrettable that governments have not made any major impact in terms of active involvement and/or participating in tea and coffee growth, production and marketing sectors of the economy.”

“The only government presence in the development of tea production could be placed to the mid-’70s when government officials netted into a joint venture with some state governments and private entrepreneurs to set up a tea farm and factory in Taraba State,” the lawmaker said.

He further observed that the New Nigerian Development Company Limited (NNDC) and the Adamawa State Government had since sold equity shareholding in the above-mentioned tea company adding that “the only government presence in coffee development is the establishment of Coffee Research Institute of Nigeria (CRIN).

Yusuf further noted that the East African Country of Kenya has for long been generating considerable foreign exchange earnings owing to the aggressive expansion of its vast growing potentials.

Contributing, Senator James Manager (PDP Delta South), while lauding the bill for its ingenuity to attract foreign earnings to the coffers of the federal government, faulted the non-inclusion of a financial proposal detailing expenditures for the establishment of the National Tea and Coffee Development Council.

But in a swift intervention, the Senate President advised that the bill be treated on the basis of its importance to revenue generation, adding that a cost implication of establishing the council is one that the Committee mandated to carry out further legislative work on the bill can come up with in its report to the upper chamber.

FOR INFORMATIONAL PURPOSES ONLY. The content of this Website is made available by the Nigerian Pilot Newspaper Publisher. This Website seeks to facilitate the dissemination of informative, engaging, and constructive news about events in Nigerian, Africa, and Globally as they happen. The “Distributer” of Information is the Nigerian Pilot Newspaper and Nigerian Pilot Tv brands of Dom Communication, LLC.

DISCLAIMER: FAKE NEWS PUBLICATION. This Website NigPilot collects information from several Independent Reporters and may contain unauthenticated and/or copyrighted materials the utilization of which has not generally been explicitly approved or authorized by the copyright proprietor. NigPilot with concern to increase in misleading social media publications, please report any such Fake, False, or Misleading News to [email protected] for immediate action.

FAIR USE NOTICE. In accordance with THE LAW, the material on this Website is included for informational and educational purposes. If you wish to use copyrighted material from this site for purposes of your own that go beyond “fair use,” you must obtain permission from the copyright owner or Nigerian Pilot WEBMASTER. For Nigerian Pilot Newspaper Advert Rates Click Here!