ABUJA, Mar. 18 (AGCNewsNet) – Nigeria's private sector has introduced a Large-Scale Agribusiness Financing Programme aimed at transforming the country’s agricultural sector and strengthening food security, the Ministry of Finance said on Monday.

The initiative, unveiled in Abuja, seeks to drive food sovereignty by attracting large-scale investments into industrial agriculture, the ministry said in a statement issued by its Director of Information and Public Relations, Mohammed Manga.

The investment model was presented to the Nigerian government during a high-level meeting with Finance Minister Wale Edun and the Chief Executive Officer of the Ministry of Finance Incorporated, Armstrong Takang.

"In a groundbreaking move, the private sector has unveiled a pioneering investment fund to revolutionize Nigeria’s agricultural landscape and drive food security," the statement said.

Representatives from KPMG and other private sector operators outlined the fund’s structure, designed to mobilize financing for the cultivation and processing of key crops such as oil palm, rice, maize, cassava, sugar, and soybean.

The initiative aligns with the administration’s strategy to reduce Nigeria’s £3 billion annual food import bill by expanding mechanized farming and enhancing local refining capacity.

The model prioritizes private sector participation, transparency, and scalability, positioning it as a sustainable approach to agricultural financing.

During the meeting, Edun and Takang welcomed the initiative and reaffirmed the government’s commitment to fostering private-sector participation in agriculture.

They emphasized that unlocking investment in industrial farming is crucial to achieving sustainable food security and reducing dependence on imports.

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