The Federal Government has disclosed plans to invest N30 billion in the establishment of an agro-industrial town in the Federal Capital Territory (FCT).
Minister of Agriculture and Rural Development, Audu Ogbeh, said the ministry was working in partnership with Aso Savings and Loans Plc for the development of 15,000 hectares of land in the Kwali Local Council to create a commercial hub for agribusiness in the FCT.
Ogbeh said the ministry also intended to attract 3,000 youths in Abuja into agriculture, as well as big players in the agribusiness industry, adding that the model would be replicated in all the states.
He said N30 billion would be needed for the project for a period of three to four years. He noted that some of the money would not come from the budget but from support funds, levies charged on wheat and that the private sector, both foreign and local, are expected to play a big role.
The minister said that vegetables would be cultivated for local and export purposes while rice and vegetable oil mills and shea butter processing plants would all be established on the farm.
He added that abattoir and poultry farms would be established and that there would also be banks on the farm.