The Higher Institution Tractorisation Initiative is a joint agreement on Nigeria Agricultural Mechanisation Local Content Support Initiative between the University of Nigeria, and a firm, Hightech System Limited.
At the inauguration of the initiative, The Minister of Budget and National Planning, Senator Udo Udoma, stated that the country would require more than 100,000 new tractors to achieve production targets in the nation’s agricultural sector.
The Director, Economic Growth, Kayode Obasa who represented the minister at the occasion said the government could not afford to continue the importation of agricultural equipments.
He said “The Federal Government has made agriculture one of the six priority sectors under the Economic Recovery Growth Plan. He emphasized that for the objectives of the agricultural policy to be achieved, the mechanization of the subsectors has a vital role to play. Based on this, Nigeria needs to add over 100,000 – 200,000 tractors as equipment over the coming five to eight years to meet its agro-production target
The government intervention plan is targeted at propelling Nigeria back to the sustainable accelerated development by the year 2020. Efforts to diversify the economy by the present administration recognize the strategic role agriculture play in national development that is one reason private sector-led Higher Institution Tractorisation Initiative is encouraged. “The areas that required attention are production, maintenance and access to equipments”. The minister added.