In a groundbreaking move, the private sector has unveiled a pioneering investment fund to revolutionise Nigeria’s agricultural landscape and drive food security.
The 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 meeting with the Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, and the CEO of the 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.
Edun and Takang welcomed the initiative, reaffirming the government’s commitment to working with the private sector to unlock investment and drive sustainable agricultural transformation.
“As Nigeria takes bold strides towards achieving food sovereignty, this innovative partnership between the private sector and the government marks a significant milestone in the country’s journey towards a more sustainable, self-sufficient, and prosperous future,” said Mohammed Manga, the Director of Information and Public Relations in the Ministry of Finance in a press release today.
