This idea focuses on attracting private sector agribusinesses to set up processing plants in zones of high food production, to process commodities into food products. This would be enabled by government by putting in place appropriate fiscal, investment and infrastructure policies for Staple Crops Processing Zones.
The government will enable this by putting in place appropriate fiscal, investment and infrastructure policies for staple crop processing zones including:
- Tax breaks on import of agricultural processing equipment
- Tax holidays for food processors that locate in these zones
- Supportive infrastructure, especially complimentary investment by the government in roads, logistics, storage facilities and power.
- Infrastructure would focus on power, irrigation, flood control, roads, rail, air etc.
- Staple Crop Processing Zones will link farmers in clusters to food manufacturing plants.
- Develop Agricultural Investment Code, in partnership with Ministry of Finance and Ministry of Trade and Investment and CBN
- The location of Staple Crop Processing Zones will be dependent on a combination of State government support and an analysis of the comparative advantage of the region to produce the identified commodity.