Gov’t to Invest $5bn in Agriculture, Agro-Processing Over Four Years -President Mahama
President John Dramani Mahama has announced that agriculture and agro-processing will receive US$5 billion over the next four years under the government’s planned New Economy programme.
The investment forms part of a broader US$10 billion programme aimed at creating jobs, expanding economic opportunities and driving growth after the government’s focus on economic stabilisation.
President Mahama made the announcement during a Resetting Ghana Community Engagement in the Upper East Region, where he said agriculture and agro-processing would constitute the largest of seven priority sectors to be supported under the New Economy policy.
According to the President, the government intends to invest US$2.5 billion annually across the seven sectors over the next four years, resulting in a total investment of US$10 billion.
He said half of the total allocation, amounting to US$5 billion, would go into agriculture and agro-processing.
“Agriculture and agro-processing will receive 50 per cent of that 10 billion-dollar investment,” President Mahama said.
He assured the people of the Upper East Region that the region would receive its fair share of the investment, particularly in areas such as irrigation, agricultural production and agro-processing.
The President said the investment would include the creation and expansion of irrigation facilities to enable farmers, particularly young people, to produce throughout the year.
He noted that increasing agricultural production during both the rainy and dry seasons would help create employment while strengthening Ghana’s food production capacity.
President Mahama said government had already begun implementing some initiatives in the Upper East Region ahead of the full rollout of the New Economy programme.
He cited the Tomato Revitalisation Project, which is expected to bring about 2,500 acres of land under tomato cultivation in the region.
The President said the Pwalugu Tomato Factory would serve as the centre of the tomato production programme, with government working to rehabilitate the facility to process tomatoes produced locally for consumption across the country.
He also announced government’s efforts to rehabilitate the Tono irrigation facility to support dry-season farming, particularly onion production in the Bolgatanga area.
According to him, the rehabilitation would bring about 850 acres of land under cultivation by next year.
President Mahama said the expansion of onion production was intended, among other things, to reduce Ghana’s dependence on imports from Niger.
He said the Upper East Region had a comparative advantage in onion production and could produce a significant proportion of the food consumed in the country if adequate irrigation and other agricultural infrastructure were provided.
The President said the government’s investment in agriculture and agro-processing was aimed not only at increasing food production but also at adding value to agricultural produce, creating jobs and strengthening local industries.
He said the government’s next priority, following economic stabilisation, was to generate growth and create opportunities for young people.
President Mahama said the New Economy programme would therefore provide a framework for directing significant investment into sectors capable of generating employment and expanding economic activity.
He assured the people of the Upper East Region that the region would benefit from the agricultural investment, particularly given its potential in irrigation farming, food production and agro-processing.
Richard Aniagyei, ISD
