Vice President Kashim Shettima has launched the 500-million-dollar Niger Delta Agricultural Investment Fund, describing the initiative as a major step toward repositioning agriculture as a key driver of Nigeria’s economic growth and food security.
Speaking at the Niger Delta Agricultural Development and Investment Summit in Abuja, the Vice President said agriculture remains the foundation of economic stability and national prosperity, stressing that countries can only achieve sustainable development when they are able to feed their populations.
Also speaking at the summit, the National Agricultural Development Fund (NADF) reaffirmed its commitment to attracting private sector investment into agriculture through blended finance and strategic partnerships.
The Executive Secretary and Chief Executive Officer of NADF, Mohammed Ibrahim, represented by the Fund’s Head of Investment, Mr. Olalekan Alabi, said the Fund is creating an enabling environment to make agricultural investments more attractive and financially viable.
He explained that NADF had engaged capital market operators, fund managers and other stakeholders to develop practical financing models capable of making agricultural projects more bankable.
According to him, the Fund is prepared to provide first-loss capital for viable projects, support feasibility studies, offer concessionary financing and collaborate with technical partners to de-risk investments and attract more private capital into the agricultural sector.
Alabi added that NADF would continue to work closely with stakeholders to promote agricultural development in the Niger Delta through innovative financing and strategic partnerships.
The summit brought together policymakers, development partners, investors and agribusiness leaders to explore sustainable financing options for agricultural development, with participants emphasizing the need for stronger collaboration between government and the private sector to unlock the Niger Delta’s agricultural potential.