The private sector has introduced a Large-Scale Agribusiness Financing Programme aimed at transforming Nigeria’s agricultural sector and strengthening food security.
This is according to a press statement on Monday by the Director of Information and Public Relations at the Federal Ministry of Finance, Mohammed Manga.
According to the statement, the initiative, which was unveiled in Abuja, seeks to drive food sovereignty by attracting large-scale investments into industrial agriculture.
The investment model was presented to the Federal Government during a high-level meeting with the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Chief Executive Officer of the Ministry of Finance Incorporated, Armstrong Takang.
The statement read, “In a groundbreaking move, the private sector has unveiled a pioneering investment fund to revolutionize Nigeria’s agricultural landscape and drive food security.”
The statement noted that the proposal aligns with the administration’s strategy to reduce Nigeria’s £3bn annual food import bill.
