FG invests $520b to support national food systems

Nigeria has invested about $521 billion to support the country’s national food systems transformation to a higher performing, sustainable and more equitable food system.

Vice President Kashim Shettima stated this while speaking at the high-level meeting, which he chaired on the first day of the UN Food Systems Summit in Rome, Italy.

He said the funds were mobilised from the Islamic Development Bank (IDB) the African Development Bank (AFDB) and the International Fund for Agricultural Development (IFAD).

According to the vice president, the administration of President Bola Tinubu is “geared towards a trinity of objectives, ending hunger in Nigeria by ensuring food security and nutrition.”

Speaking further, Shettima said: “We have that as a moral obligation to bring hunger to an end in our country.

“Honestly, we have no business being poor but right now more than 133 million Nigerians are suffering from multi-dimensional poverty.

“Two, providing a decent income for our farmers and thereby catalyzing increased yield and economic growth.

“Thirdly and most importantly, by ensuring environmental sustainability, food systems pose a major risk to the climate and environmental agenda, contributing up to one-third of greenhouse gas emissions; up to 70%, 80% of biodiversity loss, and uses up to 70% of fresh water.”

Describing the IFAD as “magic makers,” Vice President Shettima said Nigeria’s partnership with the institution has enabled the country to roll on the value chain development programme.

“And the success story speaks for itself; it has empowered 100,000 small-scale farmers, to get out of the poverty trap and 100,000 is by no means a small number.

 “By linking them up with major international marketing firms like OLAM which has a global turnover of $14.4 billion per annum, they have successfully lifted themselves and their families out of poverty.”

Vice President Shettima said that the Value Chain Development Programme, VCDP, and Special Agricultural Zones, SAPZ, represent a unique and concrete model of mobilizing transformative investment to develop Nigeria’s food systems.

“It is truly a paradigm shift in agricultural financing and it is worthy of emulation in all developing nations across the world.

“I want to thank the Islamic Development Bank, the IFAD and the AFDB for their support and like Oliver Twist, we have only six and we have 36 federating units.

“We want to replicate their success story in each of the 36 states of the Nigerian federation.  If Nigeria works, Africa works.”

In attendance was the President of IFAD, Dr. Alvaro Lario, H.E. Muhammad Suleiman Al Jasser, President of Islamic Development Bank (IsDB), Vice President of AfDB, Mrs. Hassatau N’Sele, Vice President of OLAM International Mr. Reji George and Vice President, Commodity Alliance Forum (Representative of farmers) Mrs Ejim Lovelyn.

Declaring the Summit open, the United Nations Secretary-General, Antonio Guterres commended the participating countries for their commitment to addressing the problems of hunger and malnutrition.

“This is the gathering about the food system. It is essentially to fulfill those basic human rights – the right to food.  It is outrageous that people continue to suffer in the world of plenty,” the UN scribe stated.

 The Vice President also had a bilateral meeting with the Italian Prime Minister, Giorgia Meloni. Both leaders discussed issues about the development of the two countries.

VON