Nigeria Government Partners Private Agricultural Firms To Improve Food Security

News in Brief: - Nigeria federal government is partnering with agricultural firms to improve food security by supporting millions of farmers.- They will target rice, maize, sorghum, and soybeans production, highlighting the importance of public-private collaborations to strengthen the agricultural sector. The Tinubu-led administration has joined forces with a consortium of mid-sized agricultural firms in a bid to bolster the nation's food security. The initiative was announced following a meeting between Vice President Kashim Shettima and a group of agricultural entrepreneurs at the State House in Abuja. Led by AFEX, a prominent Nigerian commodities exchange, the group of companies pledged to support millions of farmers across various agricultural sectors. Their proposed plan aims to reach two million farmers specifically, focusing on rice, maize, sorghum, and soybeans. The move highlights sustainable agricultural practices to ensure the long-term success of the government's food security drive. According to a statement released by the Vice President's spokesperson, Stanley Nkwocha, Shettima commended the efforts of the young entrepreneurs and their commitment to finding practical solutions to national challenges. He highlighted the importance of mid-sized companies acting as drivers of change within the country.

Nigeria’s Food Security Bid Receives Boost as Agric Coys Pledge Support

• President Tinubu devoted to stimulating economic growth - VP Shettima The bid by the @officialABAT administration to ensure food security through transformation of agricultural productivity in the country… pic.twitter.com/ChzB9TmMAz

— Senator Kashim Shettima (@officialSKSM) March 8, 2024

Stressing President Bola Tinubu's dedication to economic growth, particularly through private sector collaboration, Shettima emphasised the need for collaboration to turn agriculture into a business and dramatically change our economic landscape. Additionally, he called upon the private sector, including financial institutions, to join forces with the government's efforts to transform agricultural production and improve the well-being of Nigerians. He underscored the significance of engaging small-holder farmers to increase productivity, achieving a crucial step towards national food security. Furthermore, the leader of the delegation, AFEX CEO Akinyinka Akintunde, outlined their proposed initiative. This involves collaboration with key stakeholders like the Private Finance Initiative, the Fertilizer Producers and Suppliers Association of Nigeria, and farmer aggregation companies. Their multi-pronged approach aims to connect farmers with markets, enrich government grain reserves, and ultimately achieve the administration's food security targets.