In a bid to strengthen Nigeria’s food security and revitalise agricultural production, the Nigerian government has reaffirmed its commitment to supporting local farmers through targeted interventions, including access to single-digit loans and reduced production costs.
The Vice President of Nigeria, Kashim Shettima, who spoke on Thursday at the Presidential Food Systems Coordinating Unit (PFSCU) Steering Committee meeting at the presidential villa, stressed the urgent need for strategic government intervention to boost local food production.
According to him, the unit has evolved into an agricultural incubator beyond its initial advisory role.
“We need to support our local farmers, give them single-digit loans, and reduce production costs,” Mr Shettima stated, assuring that President Bola Tinubu’s administration is determined to revitalise stalled high-impact agricultural projects.
Asia example
Drawing lessons from economic transformations in Asia, the vice president cited South Korea’s strategic investments in industrial development, which propelled the country to global economic leadership.
“I have read Joe Studwell’s ‘How Asia Works,’ and I am reading it again. South Korea, a formerly poor nation, became the world’s number one steel producer by providing hefty discounts and single-digit loans to companies like Daewoo, LG, and Samsung, among others, who are now global leaders in the semiconductor business. They were able to develop their economy,” he said.
As part of the government’s efforts to foster international partnerships, Mr Shettima specifically directed the governors of Jigawa and Ebonyi states, two of Nigeria’s major food-producing states, to engage with a Brazilian delegation on Saturday to explore potential collaborations in the agricultural sector.
Jigawa State Governor, Umar Namadi, had earlier lauded the PFSCU’s role in transforming Nigeria’s agricultural landscape, stating that the committee has the potential to significantly enhance food security.
Similarly, Governor Francis Nwifuru of Ebonyi State stressed the importance of setting clearly defined priorities for farmers and ensuring adequate preparation ahead of every farming season.
Reaffirming PFSCU’s commitment to ensuring food affordability and stability, the Technical Assistant to the President on Agriculture (office of the vice president) and PFSCU coordinator, Marion Moon, added that the unit remains focused on incentivising local production and stabilising the nation’s food system.
