FG unveils private sector-led agribusiness financing programme

• Published On: 20 March 2025 at 07:23

The federal government has announced a Large-Scale Agribusiness Financing Programme led by the private sector, with the goal of improving food security through industrial agriculture investment.

The initiative, which aims to mobilise large-scale funding for the production and processing of key crops such as oil palm, rice, maize, cassava, sugar, and soybean, was announced at a high-level meeting in Abuja.

The meeting was attended by Wale Edun, Minister of Finance and Coordinating Minister of the Economy, and Dr. Armstrong Takang, Chief Executive Officer of the Ministry of Finance Incorporated.

According to Mohammed Manga, Director of Information and Public Relations, the investment model was developed by KPMG and private sector operators, with a focus on private sector participation, transparency, and scalability.

The initiative is consistent with the government's vision of reducing Nigeria's £3 billion annual food import bill by expanding mechanised farming and strengthening local refining capacity.

Edun and Takang both welcomed the proposal, reaffirming the administration's commitment to working with the private sector to spur investment and drive long-term agricultural transformation.