OFFICE OF THE VICE PRESIDENT PRESS RELEASE VP OSINBAJO AT SIGNING CEREMONY OF NIGERIA-GERMANY AGREEMENT TO BOOST AGRIBUSINESS AT THURINGIA-GERMANY, INSPECTS PETKUS FACILITIES

OFFICE OF THE VICE PRESIDENT

PRESS RELEASE
VP OSINBAJO AT SIGNING CEREMONY OF NIGERIA-GERMANY AGREEMENT TO BOOST AGRIBUSINESS AT THURINGIA-GERMANY, INSPECTS PETKUS FACILITIES

* Agreement will lead to creation of 64,000 jobs annually
* Processing machines to generate 80 billion naira in revenue

In furtherance of the commitment of the Buhari administration to ensuring optimal utilisation of resources in the agriculture sector, VIce President Yemi Osinbajo, SAN, was Special Guest today at the official signing ceremony of the agreement between Nigeria Incentive -Based Risk Sharing System for Agricultural Lending (NIRSAL) and Petkus Technologies GmbH; an agreement which will significantly strengthen agricultural production, particularly at the level of smallholder farming.

Speaking at the occasion, Aliyu Abdulhameed, Managing Director of NIRSAL, a subsidiary under the Central Bank of Nigeria, commended the vision of President Buhari for the renewed investment in the sector under its diversification policy. He averred that the signed agreement has the capacity to transform the nation’s agriculture sector, specifically post-harvest practice in the country through tackling post-harvest losses by the implementation of seed and grain conditioning technologies.

According to an official of Petkus, Peter Huser, Leader Key Accounts Seed & Market Leader Africa, with Petkus cleaner machine, “agricultural yields can increase significantly by up to 20% without additional application of fertiliser and other pesticides. In first year of investment, it is already to be expected that around 2,000 tonnes of improved seed can be produced per Petkus machines. This results in additional yields of more than 3,000 tonnes of commodities.”

Immediately after the signed Agreement was presented to Vice President Osinbajo, he led members of his delegation which includes Ambassador of Nigeria to Germany, Amb. Yusuf Tuggar; Deputy Head of Mission, Amb. Mobolaji Ogundero; Director-General of SMEDAN, Mr Dikko Umaru Radda; Special Adviser to President on Economic Matters, Dr. Dipeolu and other top government officials on inspection of Petkus facilities.

The Agreement signed on behalf of NIRSAL by Managing Director, Aliyu Abbati Abdulhameed and by Mark Scholze for Petkus Technologies at the Petkus’ in Wutha-Farnroda at Thuringia, Germany is in consolidation of the earlier MoU Agreement signed by Nigeria and Germany in the presence of of President Muhammadu Buhari and German Chancellor, Angela Merkel during the latter’s state visit to Nigeria this year.

Nigeria, when the agreement is fully implemented, will get additional benefits that will impact the sector such as creation of 64,000 direct jobs from an average of 8 operators per machine and with the use of 4 million hectares and 5 farming family per hectare, 20 million people will be impacted. And this Agreement will also lead to 80 billion naira in revenue generation from the investment alone annually.

‘Laolu Akande
Senior Special Assistant to the President (Media & Publicity)
In Vice President’s Office
11 December, 2018

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