ABUJA, (CAJ News) – MINISTER of Water Resources, Suleiman Adamu, has hailed the memorandum of Understanding (MoU) the Federal Government has signed with the Nigerian Sovereign Investment Authority.
He described it as a positive milestone in line with government determination of investing in agriculture for food security.
The MoU was signed on Thrusday in Abuja. It aims to explore the investment opportunities especially in commercialized agriculture to boost food production in the country.
“30 years from now, the population of Nigeria would out grow food production, so we need to start to address the issue to avoid conflict of food shortage in the future,” said Adamu.
He therefore called on investors to look inward in exploring the many opportunities in the sector and develop the potentials to the fullest.
Meanwhile, the Managing Director/Chief Executive Officer of the Authority, Uche Orji, in his remarks at the occasion said, that Water and Agriculture is pivotal to the food security agenda of the present administration.
He said that the organization has access to capital and would do it best in the commercialization of the capital projects of the ministry for optimal benefit of the country.
The Nigeria Sovereign Investment Authority is a Nigerian establishment which manages the Nigeria Sovereign Wealth Fund (SWF) into which the surplus income produced from Nigeria’s excess oil reserves is deposited.
The Fund was founded for the purpose of managing and investing on behalf of the government.
– CAJ News