The Federal Government has unveiled a $3.14 billion agricultural investment portfolio under the Food and Agriculture Organisation's (FAO) Hand-in-Hand Initiative, targeting five key value chains, tomato, cassava, maize, dairy, and fisheries.
Minister of Agriculture and Food Security, Abubakar Kyari, announced the initiative at the National Hand-in-Hand Investment Forum in Abuja, stressing its goal to end hunger, reduce poverty, and strengthen rural resilience.
The portfolio combines $1.75 billion in public funding with $1.39 billion from private investors, reflecting both government backing and strong private sector confidence. According to Kyari, the initiative is projected to raise per capita income by $657, sequester 1.2 million tonnes of carbon, and directly or indirectly benefit over 4.1 million Nigerians.
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He highlighted that the investment offers "bankable opportunities" in agriculture and irrigation, presenting an average internal rate of return above 14%.
FAO representative in Nigeria, Hussein Gadain, commended the government's efforts, calling irrigation a "game-changer" for Nigeria's food systems while urging stakeholders to act collectively to drive food security, create jobs, and scale sustainable growth.
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