Friday, February 14, 2025
HomeBusinessA N5 Billion Cooperation Is Signed By NADF And Niger To Produce...

A N5 Billion Cooperation Is Signed By NADF And Niger To Produce Rice And Maize On A Massive Scale.

The Niger State Government and the National Agricultural Development Fund have inked a N5 billion co-financing deal.

Muhammad Ibrahim, the Executive Secretary of NADF, revealed this in a statement on Tuesday.

“With each partner contributing N2.5 billion to finance a large-scale mixed cropping initiative for the primary production of rice and maize production across 4,000 hectares targeting 4000 smallholder farmers across three local government areas of Niger State, this partnership agreement is a major milestone between NADF and the Niger State Government,” he said.

According to the agreement, Niger Foods Company is expected to handle off-take and market access duties, while the National Agricultural Development Fund will serve as a technical advisor and oversee and assess the project, he continued.

The historic ceremony was attended by Umar Bago, the Managing Director of Niger State Foods Company, Ibrahim, the Executive Governor of Niger State, and other important stakeholders.

As per our mandate, today’s event continues to be extremely significant in our endeavor to support agriculture by pooling massive amounts of land for food production and enhancing food security for the benefit of our people. The signing of the first agricultural finance agreements with Niger State and Niger Foods Limited excites us, Ibrahim stated.

“This agreement is aimed at producing over 20,000 tons of food and impacting at least 40,000 lives while creating employment and wealth generation for smallholder farmers and other demography in line with the Renewed Hope Agenda of our leader, President Bola Ahmed Tinubu,” Ibrahim stated when listing the strategic significance of the N5 billion deal.

ALSO READ:  The Equity Market Is Up N1.14 Trillion.

Bago emphasized how important it is for food production to be self-sufficient.

We must attain food sovereignty in accordance with the President’s Food Security Initiative. We need to make the most of our plentiful resources, waterways, and fertile terrain. “This program, spearheaded by Niger Foods, is a daring step in the right direction,” he stated.

“As a testament to our shared commitment to feeding ourselves and securing a prosperous future for Niger State and Nigeria, this project, co-funded equally by NADF and the Niger State Government, will not only enhance food production but also create employment opportunities and improve the livelihoods of thousands of residents of our state,” he continued.

The funding agreement between NADF, Niger Foods, and the Niger State Government was signed in 2024 as a result of a Memorandum of Understanding between the Niger State Government and NADF. This agreement paved the way for revolutionary progress in Nigeria’s pursuit of food security and self-sufficiency.

ALSO READ:

Atiku Claims That Nigeria’s Democracy Is At Danger.

RELATED ARTICLES

Leave a Reply

- Advertisment -

Most Popular

Recent Comments