FG, NDDC mobilisieren 500 Millionen US-Dollar aus dem Niger-Delta-Landwirtschaftsfonds, um die Nahrungsmittelproduktion zu fördern

The Federal Government and the Niger Delta Development Commission (NDDC) have launched a $500 million Niger Delta Agricultural Investment Fund aimed at boosting food production, creating employment, and promoting industrialization in the region. The initiative was announced during the Niger Delta Agricultural Development and Investment Summit held in Abuja on Wednesday. The summit was jointly organized by the Office of the Vice President and the NDDC, drawing participants including all nine governors of the Niger Delta region, federal ministries, traditional rulers, development partners, and members of the diplomatic community. Vice President Kashim Shettima delivered a keynote speech at the summit, emphasizing the historical significance of agriculture in Nigeria's development. He highlighted that prior to the discovery of oil and gas, Nigeria's economic foundation was rooted in an agrarian system. Shettima underscored the importance of maintaining self-sufficiency in food production, stating that nations that lose control of their food supply risk losing control of their future. He noted that President Bola Tinubu had declared a state of emergency in July 2023 to shift focus towards increasing food production, stabilizing markets, and improving access to food. The $500 million fund is designed as a commercial, returns-driven investment vehicle targeting various sectors within the agricultural value chain, including aquaculture, palm oil, cassava, cocoa, rice, horticulture, marine resources, and livestock. The initiative aims to coordinate existing commitments from international financial institutions such as the World Bank, the African Development Bank, the Islamic Development Bank, and the European Bank for Reconstruction and Development, along with private and commercial financiers. Shettima emphasized the need for collaboration among investors, development partners, and state governors, urging them to view the summit as the beginning of a commitment rather than the end of a ceremonial event. He outlined the establishment of the Niger Delta Agricultural Development and Investment Council, which he will chair, with the NDDC serving as its secretariat. The council is tasked with overseeing the implementation of the investment strategies and ensuring the successful execution of bankable projects across the nine mandate states. Dr. Samuel Ogbuku, the Managing Director of the NDDC, expressed confidence that the summit marks a turning point for the Niger Delta region. He highlighted that the fund aims to drive an agricultural revolution that would uncover the region's untapped potential, which has been overshadowed by oil and gas production over the past several decades. Ogbuku assured that the investment plan would provide opportunities for substantial returns and serve as an alternative to oil companies shifting their operations from onshore to offshore. This transition is expected to stimulate private sector involvement and diversify the regional economy. In his address, Shettima reflected on the impact of the oil boom, noting that it led to a decline in agricultural activities. However, he commended the Niger Delta region for choosing to revive its agricultural heritage rather than relying solely on oil wealth. He stressed the importance of transforming the region through agriculture, ensuring food security for the nation, and attracting global attention. The vice president reiterated that the success of the initiative depends on collective effort and sustained commitment from all stakeholders involved.