Minister of Budget and National Planning Udoma Udo Udoma says the Federal Government is working toward reducing the price of fertiliser to cut down the price of locally produced rice.

The minister, who disclosed this on Wednesday when he featured on a television current affairs programme on the 2017 Budget in Abuja, said that the Federal Government was collaborating with the Morocco government in this regard.

He said: “The imported rice is coming in; most of them are subsidised and undercutting the locally produce rice, which has higher quality.

“The problem is bringing down the price of our rice. We are trying to support rice production by bringing down the price of fertiliser because the price of inputs determines the price of output.

“We are trying to see how we can bring down the prices of farm inputs so as to cut down the prices of local rice in the country.

“We have an agreement with Morocco to import phosphate from the country to blend and support fertiliser production. The Federal Government is working toward strengthening all the value chains to boost productivity and improve yield."

He said the Federal Government was keen on supporting the development of seeds because high-quality seeds would engender improved production.

“We are also working on fertiliser. What the Federal Ministry of Agriculture has done is undertaking soil analyses of all soil in the 36 states.

“And they have been able to ascertain the blend of fertiliser that is most suitable for a particular kind of soil.

“The farmers will now be advised on what type of fertiliser to use so that they won’t apply fertiliser without specifications on crops as this often leads to low yield. So, we have that as part of the value chain," Senator Udoma explained.

Besides, he said that the Federal Government was assisting farmers in the area of soft loans so as to enable them to increase their production and aid the nation’s efforts to achieve self-sufficiency in food production.

“In addition, the Anchor Borrowers Programme of the Central Bank of Nigeria (CBN) gives loans to farmers at low, single-digit interest rate. In this manner, the government is intervening in various links of the chain to support agricultural production,” he stated. (NAN)