FG, NDDC mobilize $500m Niger Delta agric fund to galvanize food production

Nigeria's Vice President, Senator Kashim Shettima, announced the mobilization of a $500 million Niger Delta Agricultural Investment Fund, aimed at revitalizing food production, generating employment, and fostering industrialization within the region. The announcement came during the Niger Delta Agricultural Development and Investment Summit in Abuja.

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This is why we have gathered here today, with the governors of all nine states, upon three pillars: to launch a dedicated investment fund, to coordinate the commitments already pledged to this region, and to inaugurate the institution that will steer them, summoning the capital of the world to this corridor.

Shettima emphasized the historical significance of agriculture to Nigeria's economy, stating, "before the barrel, it was the soil that paid our bills." He highlighted that the summit, themed 'Unlocking Investment for Sustainable Agricultural Transformation in the Niger Delta,' brought together governors from all nine Niger Delta states, federal ministries, traditional rulers, development partners, and the diplomatic community.

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The Niger Delta Agricultural Investment Fund of 500 million dollars, which we launch today, is a commercial, returns-driven vehicle spanning the value chain, from aquaculture and palm oil to cassava, cocoa, rice, horticulture, marine resources, and livestock.

The fund is designed as a commercial, returns-driven vehicle that will span the entire agricultural value chain, including aquaculture, palm oil, cassava, cocoa, rice, horticulture, marine resources, and livestock. Commitments from international bodies such as the World Bank, African Development Bank, Islamic Development Bank, and the European Bank for Reconstruction and Development, alongside private financiers, will be coordinated under this initiative. The Niger Delta Agricultural Development and Investment Council, chaired by the Vice President with the NDDC serving as its secretariat, will oversee these efforts.

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The President has placed food security among the earliest priorities of his administration, 'because nations that lose control of their food eventually surrender control of their future.'

President Bola Ahmed Tinubu has prioritized food security, viewing it as crucial for national stability. The administration's approach, shifted towards ground-level implementation following a July 2023 declaration of a state of emergency, covers production, market stabilization, and food access. Vice President Shettima urged investors, partners, and governors to actively engage with the fund, treating the summit as the beginning of a sustained commitment rather than a mere ceremony.

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The Fund is launched, the commitments are aligned, the council is constituted, and the pipeline awaits your conviction. History rewards those who plant, and posterity remembers those who water the seed.