FG moves to secure farms, attract investors
Federal Government Signs Pact to Enhance Agricultural Security Investments
By Emma Ujah, Abuja Bureau Chief
ABUJA — The Federal Government has taken steps to bolster security measures aimed at protecting agricultural investments, signing a partnership agreement to develop security arrangements for farming operations. This initiative targets multibillion-dollar soybean and sugarcane projects in Yobe and Jigawa states.
The partnership was formalized through a Memorandum of Understanding (MoU) between the Ministry of Finance Incorporated (MOFI), Integranium Holdings, and Defence Agricultural Assets and Projects Development Company (DAPCO), with support from Defence Holding Company Limited. The signing ceremony took place in Abuja.
Dr. Femi Ogunseinde, MOFI’s Executive Director of Investments, highlighted the importance of a secure investment climate. “We have a soybean initiative in Yobe and a sugarcane initiative in Jigawa—both large-scale, multibillion-dollar projects,” he stated. “Without a security anchor to ensure the safety of investments, it becomes very difficult for us to proceed.”
The agreement is aimed at creating a framework that will appeal to prospective investors by ensuring that their investments are protected. Dr. Armstrong Takang, Managing Director of MOFI, emphasized the need for Nigeria to optimize its agricultural potential. He remarked that the nation must better utilize its land, water resources, and human capital to meet domestic food needs and boost exports.
The partnership seeks to identify and promote viable agribusiness opportunities that can garner both public and private funding. Aliyu Abdulhameed, Chairman and CEO of DAPCO, reiterated the commitment of the defense sector to facilitate funding for agricultural ventures in rural areas through secure and structured arrangements. He also mentioned the involvement of local communities in the projects, as well as opportunities for serving military personnel and veterans.
Ogunseinde noted that approximately 30 million to 35 million hectares of land are potentially available for agricultural use, indicating a significant opportunity for expanding large-scale farming operations. The partners have already identified several potential projects and anticipate that at least one will commence before the end of the year, although specific details regarding the project or start date were not disclosed.
Air Vice Marshal A.V. Ndache, Group Managing Director of Defence Holding Company Limited, indicated that the MoU encompasses a wide range of initiatives, including agriculture, hospitality, and other investment sectors.
