The private sector has unveiled a Large-Scale Agribusiness Financing Programme, a strategic initiative aimed at mobilizing significant investment in industrial agriculture to bolster Nigeria’s food security.

The proposal was presented to the Federal Government during a high-level meeting with the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, and the Chief Executive Officer of Ministry of Finance Incorporated (MOFI), Dr. Armstrong Takang on Wednesday.

The meeting was facilitated by KPMG and key private sector stakeholders.

The initiative seeks to channel large-scale financing into the production and processing of critical agricultural commodities, including oil palm, rice, maize, cassava, sugar, and soybean.

The investment model aligns with the government’s broader economic vision to reduce Nigeria’s £3 billion annual food import bill by scaling up mechanized farming, expanding local refining capacity, and ensuring food sustainability.

A key feature of the initiative is its emphasis on private sector participation, transparency, and scalability, ensuring that investments yield long-term benefits for the agricultural sector.

The Minister welcomed the initiative, reiterating the government’s commitment to partnering with the private sector to unlock investments and drive a sustainable transformation of Nigeria’s agricultural landscape.

The programme is expected to play a crucial role in enhancing food sovereignty, creating jobs, and strengthening local agricultural value chains.