• Sunday, May 26, 2024
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Nigeria seeks strategic partnership for agribusiness, food security in US

Yusuf-Tuggar-e1527091483608

Yusuf Tuggar, Nigeria’s Minister of Foreign Affairs, has reiterated that the Federal Government is dedicated to ensuring food security and fostering the growth of agribusinesses.

This was contained in his remarks at the ongoing US-Africa Business Summit themed “From Food Security to Thriving Agribusiness: The Case for a U.S-Africa Strategic Agribusiness Partnership,”

Tuggar highlighted food security as a top priority in President Bola Tinubu’s eight-point agenda, emphasizing its significance alongside poverty alleviation, economic growth, job creation, access to capital, inclusivity, rule of law, and the fight against corruption.

During the high-level dialogue session, Tuggar outlined the government’s initiatives aimed at enhancing food production and agribusiness development.

He emphasised the focus on providing planting materials, promoting year-round farming, and establishing agro-processing zones across the country.

Addressing the challenges posed by inadequate power supply, Tuggar mentioned Tinubu’s signing of the 2023 Electricity Act, which deregulated electricity generation, transmission, and distribution.

He underscored Nigeria’s efforts to harness its abundant gas resources to address energy challenges through projects such as the South-North AKK Project and the East West/Ob/Ob 3 Gas Pipeline Project.

Highlighting Nigeria’s commitment to attracting foreign investment, Tuggar encouraged potential investors in the agriculture value chain to follow proper channels to avoid complications.

He emphasized the importance of adhering to legal processes to protect investors from land grabbers and ensure a transparent investment environment.

The dialogue session, moderated by Mima Nedelcovych, Chairman of AfricaGlobal Schaffer, featured speakers including Joseph Boakai, President of the Republic of Liberia, Sylvia J. Megret, President and CEO of ACDI/VOCA, and Farouk Gumel, Group Executive Director of Tropical General Investments Group.

“The Federal Government remained steadfast in its commitment to fostering food security, promoting agribusinesses, and attracting foreign investment to drive economic growth and development in the country”, he stated.