The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, has urged investors to channel patient capital into Nigeria’s food security and infrastructure sectors.
Oyedele made the call at an investors’ forum on unlocking private capital for food security and infrastructure development, on Tuesday in Bangkok, Thailand.
He said that investment-ready projects, policy consistency and effective risk-sharing mechanisms were critical to attracting private capital and creating jobs.
The minister said that food security and infrastructure were interconnected, stressing that agricultural investments required reliable energy, transport, storage, processing and logistics.
He said that Africa accounted for about 60 per cent of the world’s remaining uncultivated arable land but remained a significant food importer.
He said that Nigeria lost substantial agricultural produce due to inadequate storage, processing and transportation facilities.
Oyedele described the challenges as investment opportunities, urging investors to explore agricultural value chains and infrastructure projects.
He said that the country’s economic reforms were aimed at improving market efficiency, strengthening investor confidence and promoting sustainable growth.
“The Federal Government is committed to predictable policies, legal certainty and deeper domestic capital markets.
“The government will work with development partners, including the World Bank Group and its risk-mitigation institutions, to share investment risks.
“The government will not return to subsidies or deficit monetisation, our reforms are designed to support economic stability,” he said.
According to him, investment success should be measured by completed transactions, commercialised farms, jobs created and food delivered.
Earlier, Mrs Zainab Ahmed, Executive Director representing Angola, Nigeria and South Africa on the World Bank Board, called for practical steps to convert investment interests into bankable projects.
Ahmed said that the forum would help governments, project sponsors and investors identify priorities, clarify financing requirements and agree on time-bound actions.
She said that the World Bank Group was ready to support investments through policy engagement, project preparation, advisory services, guarantees and other financing instruments.
“Local businesses, farmers, women and young people must participate meaningfully in opportunities created by the investments,” she said.
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