The Federal Government is partnering with defence-related companies to strengthen security on farmlands, revive abandoned agricultural investments and boost food production across the country.
The initiative is designed to attract domestic and foreign investors into large-scale agriculture by addressing insecurity, which has forced farmers to abandon productive farmlands in several parts of the country.
The partnership involves the Ministry of Finance Incorporated (MOFI), its agricultural investment vehicle, Integrainium Holdings Limited, and the Defence Agricultural Assets and Projects Development Company Limited, with support from Defence Holdings Company Limited.
Speaking at the signing of a Memorandum of Understanding in Abuja, MOFI’s Chief Investment Officer, Dr Femi Ogunseinde, said insecurity had discouraged agricultural investments and prevented farmers from maximising the potential of available farmland.
He explained that the partnership would provide investors with greater confidence through improved security, the deployment of technology and the mobilisation of investment capital.
Ogunseinde disclosed that potential projects identified under the initiative include large-scale soybean production in Yobe State and sugarcane cultivation in Jigawa State.
He noted that Nigeria has an estimated 30 to 35 million hectares of potentially farmable land, stressing that insecurity remains a major obstacle to harnessing the country’s agricultural potential.
Describing the identified projects as multibillion-dollar opportunities, Ogunseinde expressed optimism that work on at least one of the projects would commence before the end of 2026.
Meanwhile, MOFI’s Managing Director and Chief Executive Officer, Dr Armstrong Takang, said the agreement was expected to increase food production, strengthen national food security and reduce inflationary pressures.
Takang added that the next phase would focus on converting the identified opportunities into commercially viable projects capable of attracting both public and private investment.
