The federal government has announced a private sector-led Large-Scale Agribusiness Financing Programme, designed to drive food security through large-scale investment in industrial agriculture in the country.
The investment fund model designed to mobilise large-scale financing for the production and processing of critical crops, including oil palm, rice, maize, cassava, sugar, and soybean was unveiled at a high-level meeting between the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun and the Chief Executive Officer of the Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang, in Abuja.
A statement issued last night by the Director, Information and Public Relations, Mr. Mohammed Manga disclosed that during the meeting,
KPMG and private sector operators outlined an investment fund model designed to mobilise large-scale financing for the production and processing of critical crops, including oil palm, rice, maize, cassava, sugar, and soybean.
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.
“This initiative takes the form of a private sector-led Large-Scale Agribusiness Financing Programme, presented to the Federal Government as a collaborative effort to drive food sovereignty through large-scale investment in industrial agriculture.
“At a high-level meeting with the Honourable Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, and the CEO of Ministry of Finance Incorporated (MOFI), Dr Armstrong Takang, held in his office in Abuja, KPMG and private sector operators outlined an investment fund model designed to mobilise large-scale financing for the production and processing of critical crops, including oil palm, rice, maize, cassava, sugar, and soybean.
“The proposal aligns with the administration’s vision to reduce Nigeria’s £3 billion annual food import bill by expanding mechanised farming, strengthening local refining capacity, and enhancing food security. It emphasises private sector participation, transparency, and scalability.
“HM Edun and Dr Takang welcomed the initiative, reaffirming the government’s commitment to working with the private sector to unlock investment and drive sustainable agricultural transformation.
