The Federal Government said that the private sector’s participation in the agricultural ecosystem would drive investment, innovation, and inclusive growth.
Minister of Agriculture and Food Security, Sen. Abubakar Kyari, stated this during a courtesy visit by the Food and Agriculture Organisation (FAO) delegation led by FAO Chief for the Investment Centre in West and Central Africa, Alessandro Marini, in Abuja.
Kyari stated that the federal government would provide an enabling environment by establishing clear-cut policies, regulatory frameworks, and an overall stable business climate that incentivises private investment and mitigates risk.
“During previous meetings, we presented some key partners and highlighted the shared belief that the private sector is the primary engine of growth. You agreed that the focus of the European Bank for Reconstruction and Development (EBRD) investment should be on strengthening private sector participation.
“This meeting will provide an opportunity for you to hear directly from directors of departments and technical teams, as well as private sector partners, so that you can gain a deeper understanding of the opportunities across value chains. We also have with us the Executive Secretary of the National Agricultural Development Fund, a three-year-old institution designed to support agricultural financing and innovation.
“We discussed several priority areas for investment and explored potential partnerships that can deliver measurable impact. As a government, we stand fully ready to support your next steps and work with you to advance shared objectives,” he said.
The minister pointed out that the government is encouraged that the FAO Investment Centre, working in partnership with EBRD, has also expanded its footprint by opening an office in Lagos earlier this year.
“It would have been even more insightful for you to visit some of the production sites across the country, where you can see firsthand the scale and diversity of agricultural activity, from staple crops to livestock and more.
“The visit also aligns strongly with the directive given to us by the president, who has mandated that we take full responsibility for strengthening Nigeria’s food systems and building a pathway towards food sovereignty.
“Nigeria remains one of the most promising agricultural markets, with immense potential supported by a young, rapidly growing population. We are currently around 232 million people, and the World Bank projects that we will reach 400 million by 2050. That is only 25 years from now, a period that will pass quickly, just as the year 2000 feels like yesterday, the urgency is clear,” he said.
In his remarks, the FAO Chief for the Investment Centre in West and Central Africa, Alessandro Marini, stated that organization would work assiduously with the federal government to unlock Nigeria’s agribusiness investment in line with government’s economic diversification policy.