Federal government has declared that it attracted $5.6 billion (about N896 billion) private sector investments into the agricultural sector from 2012 till now.
Dr. Akinwumi Adesina, Minister of Agriculture disclosed this while delivering a keynote address at the opening of Agra Innovate Nigeria Exhibition co-organised by Informa and Afrocet in Lagos.
Adesina said “Nigeria has a lot of arable land of about 84 million hectares and not more than 10 per cent of that is cultivated, the two abundant weathers, rainfall and sunshine seasons in the North, South, East and West is an indication that we have potential to be a global power house in food and agriculture. We must aggressively work to unlock this potential by diversifying the economy, reduce demand for food import and create jobs.
“We decided to be investment focused in agriculture with a clear government role which is to create good roads, provide good incentives and the investment we talk about is about private sector that is depending on growth because Agriculture is not a poverty reduction sector but wealth creation sector where everything about agriculture is business.”
He also noted that Agra innovate will be an important platform for developing the agenda further and driving domestic and international collaboration and partnership.
Other speakers at the event include: CEO Best Foods/Coordinator, Nigeria Agribusiness Group, Mr. Emmanuel Ijewere, Anambra State Governor, Willie Obiano, represented by his Commissioner for Agriculture, Mr. Nnamdi Mekor, Chairman, Nigeria Agribusiness Group, Alhaji Sanni Dangote and others.