The ministry of finance has pledged its readiness to throw its weight behind efforts to increase development in agriculture in order to tackle food insecurity and grow the economy. The pledge was made by Mr.Wale Edun,minister of Finance and co-ordinating minister of the economy. Mr. Edun was speaking at the inaugural meeting of the Agricultural Sector Working Group (ASWG) in Abuja.
Identifying three major planks of agricultural practices in Nigeria as boosting productivity, expanding access to affordable finance, and unlocking opportunities for value-added exports,the minister promised that his ministry is prepared to back transformative initiatives across the agricultural value chain.
According to Mr.Edun, the agricultural framework should be flexible enough to respond to global and domestic shocks, which include climate change, disruptions in food supply chain and pressures occasioned by inflation.He told the stakeholders in the sector that they have the backing of the ministry to achieve these lofty objectives.
He is of the opinion that stakeholders should adopt a more resilient approach to Nigeria’s agricultural strategy to address rising concerns over food insecurity and economic vulnerability.
The ASWG is designed to serve as a coordinating mechanism to harmonize policy, align investments, and track progress towards national and continental food security objectives. The belief among the experts is that the interest of Nigeria would be better served if the country aligns her domestic policy with Africa’s broader food security goals.That way the country will surely gain from regional protocols like the African Continental Free Trade Area, AfCFTA, apart from other global institutions.