Shettima Launches $500M Niger Delta Agricultural Fund

On Wednesday, during the Niger Delta Agricultural Development Investment Summit in Abuja, Vice President Kashim Shettima launched a $500 million Niger Delta Agricultural Investment Fund. He described the initiative as a laudable development for a nation built on an agrarian economy.

Shettima emphasized that Nigeria cannot afford to rely solely on oil and must focus on agricultural productivity to ensure food security. He noted that the fund aims to support various agricultural sectors, including aquaculture, palm oil, cassava, cocoa, rice, horticulture, marine resources, and livestock.

The fund is backed by commitments from several financial institutions, including the World Bank and the African Development Bank. Shettima highlighted the importance of agriculture in ensuring political stability and economic growth, stating that the initiative is part of President Bola Ahmed Tinubu's administration's priority to achieve food security.