According to the Bola Tinubu-led federal administration, more than $500 million has been raised for the transformation of the nation’s food system.
Vice President Kashim Shettima disclosed the information on Monday as he spoke at the UN Food Systems Summit in Rome, Italy, according to News About Nigeria.
Shettima declared that the money would be utilized to assist modern, successful, fair, and sustainable food systems.
“We are determined to transform the concept and meaning of modern governance by demonstrating commitment towards the food system in our country,” Shettima added.
The money will be utilized to assist several projects, such as the Value Chain Development Programme (VCDP), which will give young people and vulnerable farmers the ability to form business alliances with some of the largest food processing and marketing companies in the world.
According to the information provided, the government also intends to establish Special Agro-Industrial Processing Zones (SAPZ) to assist rural smallholders and operators, as well as young people and women living in poverty.
“We have declared a state of emergency in food security and taken it as a livelihood item within the National Security Council,” Shettima said.
The removal of the fuel subsidy and the establishment of a commodity marketing board to keep an eye on food prices are just two of the actions the government has taken to eliminate barriers to the economy’s revival.
He also said, “We are repositioning our security architecture to provide support for farms and farmers”.
The purpose of the UN Food Systems Summit was to discuss the issues that the world food system is experiencing.
Dr. Alvaro Lario, President of IFAD, H.E. Muhammad Suleiman Al Jasser, Mrs. Hassatau N’Sele, Vice President of the African Development Bank, Mr. Reji George, Vice President of OLAM International, and Mrs. Ejim Lovelyn, Vice President of the Commodity Alliance Forum (Representative of Farmers), were among those present.
