Prof. Osinbajo said this Friday at the formal commissioning of Pandagric Novum Farms, an integrated feed and food manufacturing company in Panda community, at the Karu LGA of Nasarawa State.
The Nigeria Sovereign Investment Authority (NSIA) and Signature Agri Investments are major investors in the project.
Urging for more private sector investments in the agriculture sector, the VP noted that the project’s commissioning was a foretaste of many possibilities and opportunities for investments, in agriculture and other sectors in the country.
“What you see today confirms that there is opportunity in Nigeria for investments in agriculture. While government commits to creating an enabling environment, we will look to the private sector for the investments to galvanize growth in the sector. We must indeed, work together to re-define agriculture for the future in Nigeria,” the Vice President said.
While extending the warm compliments of President Muhammadu Buhari to the people of the State, the VP said Mr. President “passionately believes in the role of the country’s agriculture sector as a key driver of job creation and economic growth.”
He listed instances in different sub-sectors of the agriculture value chain where the NSIA, as part its key mandates, has invested in over the last 10 years
One of these investments is the Presidential Fertilizer Initiative (PFI), which was established by President Muhammadu Buhari in 2016 to address the problem of cost and availability of fertilizer.
Adding that NSIA was enlisted by the President as the project implementing entity, Prof. Osinbajo rolled out the achievements of the PFI, which was restructured in 2022.
“Over its 5-year run (2017 -2021), the programme has delivered over 30 million 50kg bags of NPK 20:10:10 fertiliser to Nigerian farmers, resuscitated the fertiliser blending industry, reviving over 60 otherwise moribund plans scattered across the country, created hundreds of thousands of direct and indirect jobs and enabled government conserve foreign exchange by import substitution amounting to over US$100million.
“With the sector now reactivated, the NSIA’s role in the fertilizer value chain has moved upstream,” the VP noted.