Private Sector Unveils Plan for Major Agribusiness Investment Fund
By Patience Ikpeme
A new financing model designed to attract substantial investment into Nigeria’s agricultural sector has been presented to the Federal Government.
KPMG, alongside private sector operators, introduced the proposal during 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, in Abuja.
The proposed investment fund aims to bolster the cultivation and processing of key crops, including oil palm, rice, maize, cassava, sugar, and soybean.
This initiative, known as the Large-Scale Agribusiness Financing Programme, is a private sector-led effort intended to achieve food sovereignty through significant investments in industrial agriculture.
The plan supports the government’s objective of reducing Nigeria’s £3 billion annual food import bill by promoting mechanized farming, enhancing local refining capabilities, and strengthening food security. It emphasizes the crucial roles of private sector participation, transparency, and scalability.
Finance Minister Wale Edun and Dr. Takang welcomed the initiative, pledging the government’s commitment to collaborating with the private sector to drive investment and promote sustainable agricultural development.
