Kenya: Agriculture sector among the big winners of the new budget

Nairobi – Kenyan farmers are among the biggest winners of the just released 2024-2025 budget, which was read by the National Treasury yesterday.

This comes after the sector received an allocation of P54.6 billion, according to estimates read by Treasury Cabinet Secretary Njugun Ndung’u on Thursday.

They will be used in various areas aimed at transforming Kenya’s agricultural landscape.

Appearing before parliament, Ndung’u assured that these initiatives are intended to empower farmers, increase food security and stimulate economic growth in the sector.

“They aim to transform farmers from food deficit to surplus producers through input financing, subsidies and intensive agricultural development support; increasing the productivity of key food value chains; reducing dependence on imports of basic food; revamp unprofitable export crops and expand into new emerging high-value crops and boost the tea value chain through blending and branding,” he said.

It is estimated that the fertilizer subsidy program will receive £10 billion from the amount allocated to agriculture.

On the other hand, the National Agricultural Value Chain Development Project will receive £6.1 billion to increase value addition and market access for agricultural products, ensuring better returns for farmers, while a further £2.5 billion has been allocated to combat the threat of locust invasion.

Similarly, youth and women working in agriculture, livestock production, the blue economy, climate change risks and improved agriculture are also expected to receive a share of the 54.6 billion.

To address the risks of climate change and make agriculture more resilient, £340 million has been allocated to the Ending Drought Emergencies project.

This initiative targets small farms and pastoral communities, ensuring they are better prepared to deal with climate-induced challenges.