The federal government is enlisting the private sector to assist in addressing the nation’s agricultural output issues and food insecurity in the country.
In a video presentation at the Food and Energy Security in Africa Conference in Lagos, which was hosted by White & Case in association with the African Development Bank and Nigerian Sovereign Investment Authority on Friday, Minister of Agriculture and Food Security Muhammad Abubakar made this claim.
The minister said that investors can look into renewable energy options for agriculture, like solar-powered irrigation and coal storage facilities, which tackle the twin problems of food security and energy.
Entrepreneurng reported earlier that in October, food costs in Nigeria increased by over 40% year-over-year from 37.77 per cent the month before, according to data released by the National Bureau of Statistics on Friday.
Due to rising food costs, the nation’s inflation rate increased from 32.7% in September to 33.9% in October.
