The Chief Executive Officer and the Managing Director, Ministry of Finance Incorporated (MOFI), Armstrong Ume Takang, Wednesday, emphasised the importance of investing in agriculture through Integranium, a platform aimed at promoting economic growth and development in Nigeria.
Speaking at Integranium investment forum crop farming roundtable with the theme; “From Seed to Shipment: Redefining the Crop Farming Value Chain” held in Abuja, highlighted the vast potential of agricultural investment in improving the country’s economy.
He stressed that investing in agriculture through Integranium can significantly contribute to Nigeria’s economic growth, food security, and job creation.
Takang, emphasised that MOFI is already investing in agriculture through various organisations, including the Bank of Agriculture, Bank of Industry, and PFI-NPK.
He said the ministry’s new initiative aims to create an ecosystem and attract more investment into the agricultural sector across the entire value chain.
“Food security is national security. We need to develop the capacity to produce our own food domestically, with the necessary infrastructure, policies, systems, and human capacity,” he said.
He assured that the ministry will create structures, projects, and opportunities to absorb capital and deliver value and social impact from investments while emphasising on the need for collaboration and investment to achieve food sovereignty and drive economic growth.
Speaking, Dr. Femi Ogunseinde, Executive Director, Investments, MOFI, stressed the importance of achieving food sovereignty, where Nigeria produces more than enough food to meet local demands and has a surplus for export.
He noted that this goal requires increased financial participation from donor parties and the private sector.
According to him, Nigeria aims to achieve food sovereignty, ensuring local food security and generating surplus for export, adding that the government will create an enabling investment environment to attract private sector participation and donor funding.
“A major challenge hindering Nigerian agricultural exports is the lack of an accountable traceability system to track the origin and quality of produce, saying the Ministry of Finance Incorporated, through Integranium, is working to address this challenge by establishing partnerships with countries to develop a traceability system that meets international standards,” he said.
He noted that MOFI is committed to creating an enabling environment for private sector participation and investment in agriculture.
“By addressing the challenges hindering agricultural exports and promoting investment, the Ministry of Finance Incorporated aims to achieve food sovereignty and unlock new opportunities for Nigerian farmers,” he said.
In his keynote speech, Director General, Nigeria Governors’ Forum, Dr Abdullateef Shittu, said, “the food security of the country was not just an economic issue. It is a national security issue… We cannot afford to fail. And with the right partnerships, he believe Nigeria will not fail.”
He appreciated MOFI for convening this roundtable at a time when Nigeria’s agricultural sector needs not just attention, but deliberate investment and practical solutions.
“This is the conversation we need right now,” he said.
According to him, “Agriculture is not just about food. It is about jobs, growth, and stability for millions of Nigerians. Studies have shown that growth in agriculture, regardless of the context, is two to three times more effective at reducing poverty than growth in other sectors.
“What that means is that if we want to tackle poverty and grow our economy from the grassroots, agriculture is the starting point. And crop farming, which is the focus of this forum, sits at the heart of that effort”.