This follows the confirmation by the National Bureau of Statistics (NBS) that the nation had assumed full blown recession on Wednesday.
The Buhari-led government, a year after suspending Jonathan’s e-wallet system for fertiliser allocation and distribution, has decided to revive the initiative as the way forward to stimulate the agricultural sector.
Mr Audu Ogbeh, the Minister of Agriculture, disclosed the move to adopt the policy during a Federal Executive Council meeting on Wednesday, adding that the policy would be slightly modified to suit the current state of Nigeria’s economy, PREMIUM TIMES reports.
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Recall that the e-wallet system was part of the Growth Enhancement Support scheme by the Goodluck Jonathan-led government, initiated to eliminate the challenges of getting fertilisers to local farmers in remote areas in Nigeria.
The policy achieved a substantive amount of success as it ensured the registration of about 4.2 million farmers within its first year, and over 10 million farmers after it was fully implemented.
Its success led to the election of Dr. Akinwumi Adesina, former minister of Agriculture under Jonathan’s administration, as president of the African Development Bank (AfDB) Group in 2015.