Ahead UN summit: Nigeria commits to private sector-led food systems reform

Vice President Kashim Shettima has said Nigeria will pursue a transformative private sector-led approach to food systems reform to position the country as a continental leader in agricultural innovation. He further hinted that the government is ever ready to introduce a single-digit credit facilities to finance agricultural ventures, similar to how countries like South Korea […]

Vice President Kashim Shettima has said Nigeria will pursue a transformative private sector-led approach to food systems reform to position the country as a continental leader in agricultural innovation.

He further hinted that the government is ever ready to introduce a single-digit credit facilities to finance agricultural ventures, similar to how countries like South Korea supported industrial conglomerates in their early development.

The Vice President made this known on Thursday during a briefing by the Task Force on the 2nd UN Food Systems Summit Stocktake (UNFSS+4), co-hosted by Ethiopia and Italy at the Presidential Villa, Abuja. 

He also outlined a framework that would reshape Nigeria’s approach to food security by empowering private enterprise through government support structures.

“Our role as a government is to derisk, catalyse and convene. We will be active in policy formulation and support structures. We should allow the private sector to drive the process.

“Even if it involves supporting the finance needs of the agricultural sector by giving them single-digit credit facilities, we will do it. That was how countries like South Korea developed by supporting the chaebols,” the Vice President said.

Shettima outlined three key objectives for Nigeria’s delegation to the Ethiopia-Italy co-hosted summit, which include positioning Nigeria as a thought leader on African food systems reform, leveraging international partnerships aligned with domestic priorities, and advancing a private sector-led model for continental food transformation.

 

“Food systems transformation is not just about reacting to crises but about building the economic backbone of a resilient Nigeria. Our pathway is clear – empower the private sector, unlock functioning markets and ensure that every reform we pursue lays the foundation for long-term national productivity and prosperity,” the Vice President added.

 

The 2nd UN Food Systems Summit Stocktake, scheduled to take place in Addis Ababa, Ethiopia, will bring together global leaders to assess progress on food systems transformation commitments made during the inaugural summit.

 

Earlier, the National Convener and Director of the Social Development Office, Federal Ministry of Budget and Economic Planning, Dr. Sanjo Faniran, recalled that the Vice President had in 2023 chaired the two events during the stock taking in Rome, noting that it led to the ongoing efforts to achieve food system transformation in Nigeria.