In Bid to Boost Food Security, Curb Insecurity in Farming Areas, MOFI Partners DAPCO, Military-linked Institutions.
The MoU, which involves MOFI, Integranium Holdings, and DAPCO, supported by Defence Holding Company Limited, seeks to create a framework that combines investment mobilisation with security and project management.
It may help unlock, among other agriculture projects, multi-billion-dollar soybean and sugarcane projects in Yobe and Jigawa states, where security concerns has made it difficult to attract the capital needed to develop them.
On the side-lines of the agreement signing ceremony in Abuja, Tuesday, MOFI’s Executive Director, Investments, who is responsible for the Integranium investment framework, Dr.
Femi Ogunseinde, said the partnership would allow the institutions to return to prospective investors with a security arrangement that is fashioned to protect their investments. According to Ogunseinde, security has constituted one of the major obstacles preventing domestic and international investors from committing funds to large-scale agricultural projects in Nigeria. He said, “We have a soybean initiative in Yobe, we have a sugarcane initiative in Jigawa—all large-scale, all multi-billion-dollar projects. “Without having that security anchor to ensure that whatever comes from wherever to invest, the investments are safe, it becomes very difficult for us to do anything.” He submitted that attracting investors had been difficult without assurances that their money and agricultural operations would be secured.
MSEApp News is publishing an original rewrite of this tip for readers, based on reporting associated with THISDAY.