The Federal Government is taking bold steps to address its food security challenges by seeking active collaboration with the private sector to boost agricultural production.
Minister of Agriculture and Food Security, Mohammad Abubakar, emphasized the critical role of private investment in unlocking Nigeria’s agricultural potential.
At the Food and Energy Security in Africa Conference in Lagos, Abubakar stated, “The private sector holds the key to unlocking much of Nigeria’s agricultural potential. By investing in advanced technologies, modern infrastructure, and value-added processing, businesses can drive transformative change.” He assured investors that the government is committed to creating an enabling environment through policy reforms and de-risking mechanisms.
The conference highlighted Nigeria’s vast agricultural potential, with 70.8 million hectares of agricultural land and a significant workforce employed in the sector. However, the country faces challenges, including soaring food prices, which increased by almost 40% year-on-year in October.
Key Investment Opportunities:
– Renewable Energy Solutions: Solar power irrigation and coal storage facilities to address energy and food security challenges.
– Agricultural Infrastructure: Development of modern infrastructure to support agricultural productivity.
– Value-Added Processing: Investment in processing and manufacturing to increase the value of agricultural produce.
Call to Action:
Stakeholders, including government, development partners, private sector actors, and civil society, are urged to unite in tackling Nigeria’s food security challenge. Concerted efforts are necessary to address the pressing issue, which has significant implications for economic development and national security.
As emphasized by Samaila Zubairu, President and CEO of the African Development Bank, “Nigeria has immense agricultural potential… We can do it. We have the land, we have the people, and we also have institutions.” The Nigeria Sovereign Investment Authority is already working with development partners to promote backward integration in fertilizer production and renewable energy solution development.
With a collective commitment to action, Nigeria can overcome its food security challenges and unlock its vast agricultural potential.
