Nigeria’s private sector has launched a Large-Scale Agribusiness Financing Programme aimed at transforming the country’s agricultural sector and strengthening food security. The initiative, unveiled in Abuja, seeks to attract major investments into industrial agriculture to drive food sovereignty.
The investment model was presented to the Federal Government in 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 programme is designed to mobilize large-scale financing for cultivating and processing key crops such as oil palm, rice, maize, cassava, sugar, and soybean.
Representatives from KPMG and other private sector stakeholders outlined the fund’s structure, which aligns with the government’s goal of reducing Nigeria’s £3 billion annual food import bill. By expanding mechanized farming and enhancing local processing capacity, the initiative aims to make Nigeria more self-sufficient in food production.
The programme prioritizes private sector participation, transparency, and scalability, positioning it as a sustainable approach to agricultural financing. Edun and Takang welcomed the initiative, reaffirming the government’s commitment to supporting private-sector investment in agriculture. They emphasized that unlocking funding for industrial farming is crucial for achieving long-term food security and reducing reliance on imports.
The launch of the fund is expected to accelerate mechanized farming across Nigeria, increase local food production, and create jobs within the agricultural value chain. It also seeks to address key challenges in the sector, including inadequate funding for large-scale farming, limited processing infrastructure, and post-harvest losses.
