EU, UK, others invest N900bn in Nigeria’s agriculture

Nigeria’s key development partners under the New Alliance Cooperative Agreement Framework/Grow Africa initiative are committed to a funding equivalent of N100bn ($500m) for the country’s agricultural sector for a three-year period, the Federal Government has said.

It also stated that international and local business establishments were committed to make investments of about $4bn (N800bn) in the agricultural sector.

The Permanent Secretary, Federal Ministry of Agriculture and RuralDevelopment, Mr. Sonny Echono, disclosed this on the occasion of the validation workshop on the New Alliance Report involving Nigeria, private sector investors and its development partners.

The development partners, according to Echono, include the European Union, United Kingdom, Japan, France, Germany and the United States.

The permanent secretary, who was represented by the Director of Special Duties, FMARD, Mrs. Ademola Abiri, stated that the new alliance was a collaborative approach geared towards developing the agricultural sector of the Nigerian economy.

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