We Will Develop Agricultural Businesses Through Private Sector—FG

The Federal Government has said it will seek partnership with the private sector to develop agricultural businesses in Nigeria.

This was disclosed by the Permanent Secretary of the Federal Ministry of Agriculture and Food Security (FMAFS) Ernest Umakhihe in Abuja on Tuesday.

He said the partnership will strengthen food and nutrition security in the country, while promoting inclusive economic growth in Nigeria through innovative agribusiness financing initiatives.

Umakhihe said, “Indeed, food security is threatened by drought, floods, and erosions in the country. This situation negates the realization of FMAFS’s mandate and the overall agenda of Mr. President on food security.

“Optimization of Agricultural activities can be achieved through private sector-driven agriculture hubs for enhanced bio-diversity, enriched soils, improved watersheds, promote organic farming, and enhanced ecosystem support services.

“This will be through the building of robust mechanisms for weather and climate information sharing to farmers, deployment of innovative technologies for efficient utilization of land, water, and inputs, and the use of greenhouses in rural communities.”

Speaking further, he said the reclamation and correction of degraded agricultural lands, and the production of nutrient status maps, to be deployed across the country will be achieved through the facilitation of activities on soil fertility management, soil information systems for food security and land use and conservation among others

He also revealed that an inter-governmental partnership framework for the implementation of mutually beneficial agricultural projects between the Federal, State, and Local Government will be pursued.

Speaking at the event, the USAID Nigeria Economic Growth and Environment Office Director, Michelle Corzine said to obtain the best results in Nigeria, public and private sector actors must continue to collaborate, debate, develop, and monitor the implementation of policy reforms to ensure that the country continues to improve the business environment.

“As we celebrate five years of significant achievements in the agribusiness investment activity, we urge the Nigerian government and financial sector counterparts to continue to advocate for pro-business policies in the agricultural sector such as the Investment and Security Bill 2022.

“This piece of legislation is essential to increase access to finance for agribusinesses and smallholder farmers,” Corzine said.