FG moves to secure farms and attract investors

Nigeria’s federal government has signed an Abuja memorandum of understanding involving the Ministry of Finance Incorporated (MOFI), Integranium Holdings and DAPCO, supported by Defence Holding Company Limited, to secure agricultural investments. The partnership is intended to support multibillion-dollar soybean projects in Yobe State and sugarcane projects in Jigawa State by providing security arrangements for investors. The partners aim to develop bankable agribusiness opportunities, involve local communities and consider serving military personnel and veterans. MOFI estimates that 30 million to 35 million hectares could be available for farming and expects at least one project to break ground before year-end, though it did not specify which one.