KPMG and Private Sector Unveil Investment Fund Model to Bolster Global Food Security

A groundbreaking investment fund initiated by the private sector is set to transform Nigeria’s agriculture sector and improve food security.

This program is a privately driven Large-Scale Agribusiness Financing Initiative, which was submitted to the Federal Government. It aims to secure food self-sufficiency via significant financial support for large-scale agricultural operations, representing a joint effort between various stakeholders.

During a top-tier meeting involving Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, along with Dr. Armstrong Takang, who heads the Ministry of Finance Incorporated (MOFI), which took place in Abuja, representatives from KPMG and various private-sector entities presented an investment fund framework aimed at attracting substantial capital for boosting the cultivation and processing of key agricultural products such as oil palm, rice, corn, cassava, sugarcane, and soybeans.

The proposal supports the government’s aim to decrease Nigeria’s £3 billion yearly expenditure on food imports through increased use of mechanized agriculture, bolstering domestic processing capabilities, and improving overall food security.

It highlights involvement from the private sector, openness, and expandability.

Eduan and Dr. Takang endorsed the proposal, emphasizing the administration’s dedication to partnering with businesses to attract investments and foster sustainable advancements in agriculture.

Associated News:

The unexplored potential of Nigeria’s native rice types could significantly aid in meeting food security and sustainable development objectives.

A report indicates that approximately 30 million people in Nigeria face the threat of a food emergency across Abuja and 26 additional states.

The country is nearing success in ensuring food security, according to the minister.

Mohammed Manga, who leads the Information and Public Relations department, noted that as Nigeria advances confidently towards attaining food security, this pioneering collaboration between the public and private sectors represents an important step in the nation’s path to a more sustainable, autonomous, and thriving future.

NIGERIAN TRIBUNE

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