Agricultural sector among big winners in new budget

Source: Capital FM Kenya
Author: Phidel Kizito

NAIROBI, Kenya, June 14 - Kenyan farmers are among the big winners in the just-released 2024-2025 budget that was read yesterday by the National Treasury.

This follows the sector receiving an allocation of Sh54.6 billion, according to the estimates read by Treasury Cabinet Secretary Njuguna Ndung'u on Thursday.

This will be utilised in various areas aimed at transforming Kenya's agricultural landscape.

Ndung'u, while appearing before parliament, asserted that these initiatives are set to empower farmers, enhance food security, and drive economic growth in the sector.

"These aims to transform farmers from food deficit to surplus producers through input finance, subsidies, and intensive agricultural extension support; raise the productivity of key food value chains; reduce dependence on basic food imports; revamp under-performing export crops and expand to new high value emerging crops; and boost tea value chain through blending and branding," he said.

Of the amount earmarked for agriculture, the fertiliser subsidy programme is estimated to receive Sh10 billion.

On the other hand, the National Agricultural Value Chain Development Project will receive sh6.1 billion to enhance value addition and market access for agricultural products, ensuring better returns for farmers, with another 2.5 billion set aside for combating the locust invasion threat.

Likewise, youth and women in agriculture, livestock production, the blue economy, climate change risks, and enhanced agriculture are also earmarked for a share of the 54.6 billion.

To address climate change risks and enhance agricultural resilience, Sh340 million has been allocated towards the Ending Drought Emergencies project.

This initiative targets smallholder farming and pastoral communities, ensuring they are better equipped to handle climate-induced challenges.