FG targets $3.14bn investment to drive food security

The Federal Government has unveiled plans to attract a $3.14 billion agricultural investment portfolio under the Food and Agriculture Organization (FAO) Hand-in-Hand Initiative, with focus on boosting food security and achieving food sovereignty, THE PRIME NEWS reports.

Minister of Agriculture and Food Security, Senator Abubakar Kyari, disclosed this at the National and Sub-Regional Hand-in-Hand Investment Forum held in Abuja.

He said the initiative will focus on five priority value chains tomato, cassava, maize, dairy, and fisheries designed to eradicate poverty, end hunger, and build resilience in rural communities.

According to Kyari, the investment pipeline is backed by $1.75 billion in government funding and $1.39 billion in private sector commitments, with an expected average internal rate of return of 14 per cent.

He noted that the programme is projected to lift millions of Nigerians out of poverty, create jobs, and improve food and nutrition security.