The private sector has introduced a Large-Scale Agribusiness Financing Programme aimed at transforming Nigeria’s agricultural sector and strengthening food security.
This is according to a press statement on Monday by the Director of Information and Public Relations at the Federal Ministry of Finance, Mohammed Manga.
According to the statement, the initiative, which was unveiled in Abuja, seeks to drive food sovereignty by attracting large-scale investments into industrial agriculture.
The investment model was presented to the Federal Government during a high-level meeting with 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.
The statement read, “In a groundbreaking move, the private sector has unveiled a pioneering investment fund to revolutionize Nigeria’s agricultural landscape and drive food security.
“This initiative takes the form of a private sector-led Large-Scale Agribusiness Financing Programme, presented to the Federal Government as a collaborative effort to drive food sovereignty through large-scale investment in industrial agriculture.”
Representatives from KPMG and other private sector operators outlined the fund’s structure, which is designed to mobilise large-scale financing for the cultivation and processing of critical crops such as oil palm, rice, maize, cassava, sugar, and soybean.
The statement noted that the proposal aligns with the administration’s strategy to reduce Nigeria’s £3bn annual food import bill.
By expanding mechanised farming and enhancing local refining capacity, the programme aims to make Nigeria more self-sufficient in food production.
The model prioritises private sector participation, transparency, and scalability, positioning it as a sustainable approach to agricultural financing.
During the meeting, Edun and Takang welcomed the initiative, reaffirming the government’s commitment to fostering private-sector participation in agriculture.
They emphasised that unlocking investment in industrial farming is key to achieving sustainable food security and reducing dependence on imports.
The launch of the fund is expected to accelerate the expansion of mechanised farming across Nigeria, increase local food production, and create jobs within the agricultural value chain.
The programme also aims to address longstanding bottlenecks in the sector, including inadequate funding for large-scale farming, insufficient processing infrastructure, and post-harvest losses.