NDDC unveils $500m fund to boost agriculture

Nigeria, through its Federal Government and the Niger Delta Development Commission (NDDC), has launched a significant $500 million investment fund aimed at revitalizing the Niger Delta region's economy. The Niger Delta Agricultural Development Investment Fund, unveiled at a summit in Abuja, seeks to pivot the region away from its traditional reliance on crude oil towards agriculture-led economic growth. NDDC Managing Director Samuel Ogbuku emphasized that the fund will be commercially managed, targeting opportunities across the entire agricultural value chain to attract both domestic and international investors.

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So today, in making that a reality, we are going to launch, as one of the high points of this event, a $500 million Niger Delta Agricultural Development Investment Fund. And I believe most of the stakeholders that are going to be part of this fund are already in this room.

Ogbuku explained the strategic choice to host the launch in Abuja, stating it was to conveniently bring together key stakeholders and potential investors. He highlighted the fund's potential to transform the Niger Delta's investment landscape by fostering wealth creation and sustainable development. The initiative is expected to draw major agribusiness investors, generate substantial employment, and ensure that the benefits are mutually advantageous for the region's inhabitants and investors alike. Ogbuku also asserted that the Niger Delta is currently Nigeria's most secure investment environment.

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That is why some people here may ask, why Abuja? Why not the Niger Delta? But we have to do this in Abuja. Let us make it easy for the stakeholders, those who have the money.

Beyond the agricultural initiative, the NDDC highlighted its ongoing infrastructure development, including the near-completion of a 1.2-kilometer bridge in the region. Ogbuku positioned this bridge as a significant infrastructure achievement, comparable to major bridges elsewhere in Nigeria. The summit was framed as the commencement of a new era for the Niger Delta, with the fund serving as a commercially viable investment vehicle designed for broad benefit.

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When we get this fund, this fund is going to be commercially managed, which will fund opportunities across the various value chains of agricultural investment development. And we believe, with this fund properly managed, it’s going to change the landscape of the Niger Delta in terms of investment.