Nigeria, Indonesia Partner to Inject over $1 billion into Agricultural Sector
Nigeria has entered into an agreement with Indonesian investors with a commitment to inject over $1 billion focusing on renewable energy systems for farming, and food processing.
Minister of Agriculture and Food Security, Senator Abubakar Kyari, revealed this when he met in Abuja with the Regional Sustainable Energy Centre of Excellence for Sub-Saharan Africa (RSECES) for discussion on the role of sustainable energy in transforming agriculture.
He said the commitment of Indonesian investors to inject over $1 billion into Nigeria’s agricultural sector is significant investment represents a tremendous opportunity for us to explore new horizons in agricultural technology, renewable energy systems for farming, and food processing.
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RSECES Executive Director/CEO, Dr. Ibrahim Aminu Trader, shedding more light on the agreement, said the two countries shall explore renewable energy solutions to power agricultural initiatives and establish a task force to facilitate communication between Nigerian authorities and Indonesian investors.
He identified the next step and action is to establish a task force dedicated to facilitating communication between Nigerian authorities and Indonesian investors while setting clear timelines for project proposals and feasibility studies will be essential for maintaining momentum and achieving our shared objectives.
Dr. Aminu Trader described challenges that our agriculture sector currently to include climate change, inadequate infrastructure, fluctuating market prices, to limited access to financial resources, adding that these obstacles not only threaten our food security but also hinder our economic growth.
