Nigeria: To Boost Food Security, FG Partners Consortium on Soybean, Sugarcane Processing Plants
The Nigerian Federal Government is set to partner with Trans Sahara Consortium on soybean and sugar projects, which will cultivate 3 million hectares of soybean and establish sugarcane processing plants. This initiative aims to boost domestic sugar production and export, enhance food security, and strengthen the agricultural sector, aligning with President Bola Tinubu’s strategic objectives, according to Finance Minister Wale Edun.
The Federal Government has expressed its desire to partner Trans Sahara Consortium’s soybean and sugar projects’ initiative, saying it is a game-changer for Nigeria’s agricultural sector.
The projects will involve the cultivation of three million hectares of soybean and the establishment of sugarcane processing plants, targeted at producing millions of tonnes of sugar for domestic consumption and export.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, disclosed this Monday in Abuja, when he met with a delegation from Trans Sahara Consortium Limited.
The delegation led by its Chairman, Senator Ibrahim Tura, visited the minister to discuss the consortium’s ambitious soybean and sugar projects.
According to a statement by the Director, Information and Public Relations, Ministry of Finance, Mohammed Manga, the projects, designed to significantly boost Nigeria’s agro-industry and address the country’s trade deficit, align with President Bola Tinubu’s strategic objectives of enhancing food security and strengthening the agricultural sector.
Edun explained that the Trans Sahara Consortium’s initiative is a game-changer for Nigeria’s agricultural sector, adding; “We are committed to supporting innovative projects that drive economic growth, promote food security and empower Nigerian farmers.
“This partnership is a significant step towards realizing our vision for a prosperous Nigeria. We will work closely with Trans Sahara Consortium Limited to ensure the successful implementation of these projects.”
The statement noted that the minister’s expression of the government’s interest to embark on the partnership with Trans Sahara Consortium is a reaffirmation of the present administration’s commitment to transform Nigeria’s agricultural landscape, with the potential to boost food security, reduce trade deficits and empower local farmers.
“This initiative marks a significant milestone in our journey towards a prosperous Nigeria, even as we look forward to witnessing the tangible impact of this collaboration, fostering economic growth and improving the lives of millions of the citizenry,” it added.
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