L- R, the Minister of Agriculture and Food Security, Sen Abubakar Kyari and FAO Chief for the Investment Centre in West and Central Africa, Alessandro Marini during the couresty visit in Abuja.
By Victoria Onehi
The Minister of Agriculture and Food Security, Sen. Abubakar Kyari has said that private sector participation in the agricultural ecosystem would drive investment, innovation, and inclusive growth.
The Minister made this known during the courtesy visit by the Food and Agriculture Organization (FAO) delegation led by FAO Chief for the Investment Centre in West and Central Africa, Alessandro Marini, held at the Ministry’s Conference Room, Abuja, recently.
In a statement by the Head,Department of Information,Ezeaja Ikemefuna, the Minister stated that the federal government would provide an enabling environment by establishing clear-cut policies ,regulatory frameworks, and an overall stable business climate that incentivizes private investment and mitigates risk.
He said: “During previous meetings, we presented some key partners and highlighted that the private sector is the primary engine of growth. You agreed that the focus of the European Bank for Reconstruction and Development (EBRD) investment should be on strengthening private sector participation’’.
“This meeting will provide an opportunity for you to hear directly from directors of departments and technical teams, as well as private sector partners, so that you can gain a deeper understanding of the opportunities across value chains. We also have with us the Executive Secretary of the National Agricultural Development Fund, a three year old institution designed to support agricultural financing and innovation.”
The Minister noted that the FAO Investment Centre working in partnership with EBRD, has also expanded its footprint by opening an office in Lagos earlier this year.
The Minister said it would have been insightful for the FAO team to visit some of production sites across the country, where they can see firsthand the scale and diversity of agricultural activity from staple crops to livestock and more.
The Minister noted that Nigeria remains one of the most promising agricultural markets, with immense potential supported by a young, rapidly growing population.”We are currently around 232 million people, and the World Bank projects that we will reach 400 million by 2050. That is only 25 years from now, a period that will pass quickly, just as the year 2000 feels like yesterday, the urgency is clear.”He said.
In his remarks, the FAO Chief for the Investment Centre in West and Central Africa, Alessandro Marini, stated that organisation would work assiduously with the federal government to unlock Nigeria’s agribusiness investment in line with government’s economic diversification policy.
