The Federal Government has announced a private sector-led Large-Scale Agribusiness Financing Programme aimed at enhancing food security through industrial agriculture investment.
The initiative, designed to mobilize large-scale funding for the production and processing of key crops such as oil palm, rice, maize, cassava, sugar, and soybean, was unveiled during a high-level meeting in Abuja.
The meeting was attended by the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Chief Executive Officer of the Ministry of Finance Incorporated, Dr. Armstrong Takang.
According to a statement issued by Mohammed Manga, Director of Information and Public Relations, the investment model was outlined by KPMG and private sector operators, emphasizing private-sector participation, transparency, and scalability.
The initiative aligns with the government’s vision to reduce Nigeria’s £3 billion annual food import bill by expanding mechanized farming and strengthening local refining capacity.
Both Edun and Takang welcomed the proposal, reaffirming the administration’s commitment to partnering with the private sector to unlock investment and drive sustainable agricultural transformation.
