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Tuesday, April 23, 2024

Nigerian govt claims $500m was mobilized for food transformation

Nigerian govt claims $500m was mobilized for food transformation

The Nigerian government has claimed that it has mobilised over half a billion dollars for innovative, profitable, equitable and sustainable food systems transformation initiative.

This was revealed by Vice President Kashim Shettima.

shettima made the disclosure while chairing a high-level meeting on the first day of the UN Food Systems Summit declared open in Rome, Italy, by the United Nations Secretary General, Mr Antonio Guteress.

He said the funds were mobilised “through domestic resources, multilateral development banks, international financial institutions, climate funds leading agro-businesses,” and would be used for “Innovation finance for food system transformation; development of Nigeria’s agro value chain and Special Agro-Industrial Processing Zones programmes.

“In this event, the Government of Nigeria will be showcasing its Value Chain Development Programme (VCDP) as a unique example of a successful partnership between producers, the public sector and private operators.

“The VCDP which is co-funded by the of Nigeria and IFAD has empowered vulnerable farmers and youth to engage into commercial partnerships with some of the biggest food processing and marketing firms in the world such as OLAM, a world leading agri-business company operating in over 60 countries with an annual revenue of about $39.8 billion.

“Building on the success of the VCDP, the Federal Government is determined to capacitate Nigeria’s rural smallholders and operators, youth and women living below the poverty line to take advantage of the new Special Processing Zones,” he said.

While featuring in the panel discussion with the Prime Minister of Somalia, Hassan Sheikh Mohamud; Deputy President of Kenya, Rigathi Gachagua; and Prime Minister of Niger Republic, Ouhoudou Mahamadou, the vice president said President Tinubu “is determined to transform the concept and meaning of modern governance” by demonstrating commitment towards the food system in the country.

“President Tinubu hit the ground running from day one of his administration, which is barely two months in office, and has therefore declared state of emergency in food security and took it as a livelihood item within the National Security Council,” he said.

Declaring the summit open, the United Nations Secretary General, Mr Antonio Guteress, commended the participating countries for their commitment to addressing the problems of hunger and malnutrition.

“This is the gathering about food system. It is essentially to fulfill those basic of human rights – the right to food.  It is outrageous that people continue to suffer in the world of plenty,” the UN scribe said.


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