The Federal Government and the Niger Delta Development Commission have launched a $500m Niger Delta Agricultural Development Investment Fund to boost agribusiness, diversify the region’s economy and create jobs across the nine Niger Delta states.
The fund was unveiled on Wednesday at the Niger Delta Agricultural Development and Investment Summit, jointly organised by the Office of the Vice President and the NDDC at the Presidential Villa, Abuja.
Speaking at the summit, the Managing Director of the NDDC, Samuel Ogbuku, said the initiative was designed to reposition the region from dependence on crude oil to agriculture-led economic growth.
Ogbuku said the investment fund would be commercially managed to finance opportunities across the agricultural value chain and attract both local and international investors.
He said, “So today, in making that a reality, we are going to launch, as one of the high points of this event, a $500 million Niger Delta Agricultural Development Investment Fund. And I believe most of the stakeholders that are going to be part of this fund are already in this room.”
