Nigeria has entered into an agreement with Indonesian investors with a commitment to inject over $1 billion focusing on renewable energy systems for farming and food processing.
Minister of Agriculture and Food Security, Senator Abubakar Kyari, revealed this when he met in Abuja with the Regional Sustainable Energy Centre of Excellence for Sub-Saharan Africa (RSECES) for discussion on the role of sustainable energy in transforming agriculture.
He said the commitment of Indonesian investors to inject over $1 billion into Nigeria’s agricultural sector is a significant investment and represents a tremendous opportunity to explore new horizons in agricultural technology, renewable energy systems for farming, and food processing.
RSECES executive director/CEO Dr Ibrahim Aminu Trader, shedding more light on the agreement, said the two countries should explore renewable energy solutions to power agricultural initiatives and establish a task force to facilitate communication between Nigerian authorities and Indonesian investors.
He identified that the next step and action is to establish a task force dedicated to facilitating communication between Nigerian authorities and Indonesian investors. He said setting clear timelines for project proposals and feasibility studies will be essential for maintaining momentum and achieving shared objectives.
Dr. Aminu Trader described the challenges facing the agriculture sector currently, including climate change, inadequate infrastructure, fluctuating market prices, and limited access to financial resources.
These obstacles not only threaten food security but also hinder economic growth.
