Chief Executive Officer of the Nigerian Agricultural Mechanisation and Equipment Leasing Company (NAMEL), Dr Ahmed Adekunle has praised the Federal Government in its continued efforts at mechanising agriculture to increase productivity in the country.
Dr Adekunle in a chat with TheNigerian News revealed that the federal government has concluded plans to inject 10,000 new tractors to be distributed to farmers nationwide through NAMEL and some Mechanisation Service Providers MSPs who are part of the NAMEL eco-system.
Recall that NAMEL signed a Memorandum of Understanding with Tractor Owners & Operators Association of Nigeria (TOOAN), and Tractors Owners & Hiring Facilities Association of Nigeria (TOHFAN) on a private sector-driven mechanization programme.
Dr Adekunle said, the MSPs, (TOOAN and TOHFAN) are a group of successful managers with financial credibility in single obligation of between 1 to 5 billion Naira with almost zero default.
“The President and the Minister of Agriculture said the government is tired of buying tractors and they are disappearing but at the same time, we must mechanize.
“That was why NAMEL was asked to identify successful bodies who can manage tractors very well and return guarantee on investment both on the side of the government and the private sector.
“The approval we got from Mr President is to work with these MSPs to deploy 10,000 units of tractors to the farmers nationwide through NAMEL.”
Dr Adekunle commended President Muhammadu Buhari for the revolution in the agricultural sector and expressed satisfaction with the capacity of the Minister of Agriculture and Rural Development, Chief Audu Ogbeh.
He said President Buhari has approved 35% bridging finance bringing while 25% of the 35% bridged stands as a grant.
Dr Adekunle assured Nigerians to expect more mechanisation equipment at a very low cost as NAMEL is currently negotiating with manufacturers of agro-machineries, donor agencies and development partners to see how equipment can be leased out at less than 2 million Naira.