Minister of Foreign Affairs for Nigeria, Yusuf Tuggar, has reaffirmed that the Federal Government is committed to guaranteeing food security and encouraging the expansion of agribusinesses.
He made this statement during his speech at the US-Africa Business Summit, which is now taking place with the topic “From Food Security to Thriving Agribusiness: The Case for a U.S.-Africa Strategic Agribusiness Partnership.”
In President Bola Tinubu’s eight-point agenda, Tuggar emphasized the importance of food security as a major priority, ranking it among the elimination of poverty, economic growth, the creation of jobs, capital access, inclusivity, the rule of law, and the battle against corruption.
Tuggar gave an overview of government plans to improve food production and agribusiness growth during the high-level dialogue session.
He emphasized the importance of building agro-processing zones across the nation, encouraging year-round farming, and supplying planting materials.
In response to the problems caused by insufficient power, Tuggar brought up Tinubu’s signature of the 2023 Electricity Act, which deregulated the production, transmission, and distribution of electricity.
He emphasized how Nigeria is working to address energy concerns by utilizing its plentiful gas resources through projects like the East-West/Ob/Ob 3 Gas Pipeline Project and the South-North AKK Project.
Tuggar emphasized Nigeria’s resolve to draw in international investment and urged prospective investors to follow the right procedures to avoid any issues in the agriculture value chain.
He underlined how crucial it is to follow the law to shield investors from land grabbers and maintain an open investment climate.
Speakers at the dialogue session included Joseph Boakai, President of the Republic of Liberia; Sylvia J. Megret, President and CEO of ACDI/VOCA; and Farouk Gumel, Group Executive Director of Tropical General Investments Group. The discussion was facilitated by Mima Nedelcovych, Chairman of AfricaGlobal Schaffer.
“To drive economic growth and development in the country, the Federal Government remained steadfast in its commitment to fostering food security, promoting agribusinesses, and attracting foreign investment,” he said.
