Mofi who supports the agricultural investments of Interaraniium to increase the economy of Nigeria – official

The CEO and the CEO, CEO, Ministry of Finance Incorporated (Mofi), Armstrong Ume Takang, on Wednesday, underlined the importance of investing in agriculture through Interaraniium, a platform aimed at promoting economic growth and development in Nigeria.

Speaking at Interanium Investment Forum Crop Farming Roundtable with the theme; “From seed to shipping: redefining the chain of agricultural value of crops” held in Abuja, has highlighted the vast potential of agricultural investments in improving the country’s economy.

He underlined that investments in agriculture through integration can significantly contribute to economic growth, food safety and the creation of Nigeria jobs.

Takang stressed that Mofi is already investing in agriculture through various organizations, including the Bank of Agriculture, the Bank of Industry and the Pfi-Npk.

He said that the new initiative of the Ministry aims to create an ecosystem and attract further investments in the agricultural sector in the entire value chain.

“Food security is national security. We must develop the ability to produce our food at national level, with the infrastructures, policies, systems and human capacity necessary,” he said.

He assured that the Ministry will create structures, projects and opportunities to absorb capital and offer value and social impact from investments while underlining the need for collaboration and investments to achieve food sovereignty and guide economic growth.

Speaking, Dr. Femi Ogunseinde, executive director, investments, mobi, underlined the importance of reaching food sovereignty, where Nigeria produces food more than enough to meet local requests and has an export surplus.

It has observed that this goal requires greater financial participation by donors and the private sector.

According to him, Nigeria aims to achieve food sovereignty, guaranteeing local food safety and surplus generation for export, adding that the government will create an enabling investment environment to attract the participation of the private sector and the financing of donors.

“A great challenge that hinders Nigerian agricultural exports is the lack of a responsible traceability system to trace the origin and quality of the products, stating that the Ministry of Finance Incorporated, through Interanium, is working to deal with this challenge by establishing partnerships with countries to develop a traceability system that satisfies international standards,” he said.

He observed that Mofi undertakes to create a qualifying environment for participation and investments in the private sector in agriculture.

“By facing the challenges that hinder agricultural exports and promoting investments, the Ministry of Finance has incorporated the objectives to achieve food sovereignty and unlock new opportunities for Nigerian farmers,” he said.

In his key speech, the general manager, the forum of the Governors of Nigeria, dr. Abdullateef Shitt, said: “The country’s food security was not just an economic question. It is a national security problem … We cannot afford to fail. And with the right partnerships, he believes that Nigeria will not fail”.

He appreciated Mofi for having summoned this round table at a time when the agricultural sector of Nigeria needs not only attention, but deliberate investments and practical solutions.

“This is the conversation we need right now,” he said.

According to him, “Agriculture does not only concern food. These are jobs, growth and stability for millions of Nigerians. Studies have shown that growth in agriculture, regardless of the context, is two to three times more effective in reducing poverty compared to growth in other sectors.

“This means that if we want to face poverty and grow our economy from the base, agriculture is the starting point. And the agriculture of crops, which is at the center of this forum, is located at the center of that effort”.