NDDC Launches $500M Fund for Niger Delta Agriculture

The Niger Delta Development Commission (NDDC) unveiled a $500 million fund aimed at boosting agricultural development in the Niger Delta region, with the goal of diversifying the economy and creating jobs across nine states. This initiative was launched during the Niger Delta Agricultural Development Investment Summit, co-organized by the Office of the Vice President, held in Abuja.

NDDC Managing Director Samuel Ogbuku stated that the fund is designed to attract local and international investors by providing commercial management and financial opportunities across the agricultural value chain. Vice President Kashim Shettima emphasized that agriculture is central to the federal government's economic agenda, particularly for food security.

The fund will coordinate with various development finance institutions, including the World Bank and African Development Bank. Shettima also noted that the federal government prioritizes food security, with President Bola Tinubu declaring a state of emergency in food security in 2023.