FG and NDDC launch $500m fund for Niger Delta agriculture
The Federal Government and the Niger Delta Development Commission have introduced a $500 million agricultural investment fund to boost agribusiness and create jobs in the Niger Delta. The fund was unveiled at a summit in Abuja, with Samuel Ogbuku, Managing Director of the NDDC, outlining its goal to shift the region’s focus from oil to agriculture. Kashim Shettima, the Vice President, emphasized the importance of agriculture for national stability and food security. The initiative aims to attract both local and international investors and promote sustainable development in the region.
What we know
- The $500 million Niger Delta Agricultural Development Investment Fund was launched to drive agribusiness and diversify the region’s economy.
- Samuel Ogbuku said the fund will be commercially managed and is expected to attract major investors and create jobs.
- The summit where the fund was unveiled was jointly convened by the Office of the Vice President and the NDDC at the Presidential Villa, Abuja.
- Kashim Shettima highlighted agriculture as central to the government’s economic agenda and food security plans.
- The fund will involve commitments from development finance institutions and private financiers, covering various agricultural sectors.
