The Federal Government has endorsed the Cold Storage Initiative, aimed at reducing post-harvest losses and enhancing food security nationwide, as part of its commitment to addressing food shortages.
The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, disclosed this in Abuja during a meeting with a delegation from the National Agricultural Development Fund (NADF), GENESIS Energy Group, USAID, and KPMG. The discussion centered on a strategic partnership for deploying solar-powered cold room storages and logistics.
During the meeting, the delegation outlined their ongoing efforts and collaborations with key stakeholders to establish cold storage facilities in strategic locations across the country. This initiative is expected to significantly reduce farm produce losses and improve supply chain efficiency.
Commending the delegation, Mr. Edun emphasized that food security is a top priority for President Bola Ahmed Tinubu’s administration. He noted that recent economic reforms, including market-based pricing for fuel and foreign exchange policies, have stabilized the economy and created a favorable environment for investment.
The Minister assured the delegation of the Ministry’s full support, highlighting how their project aligns with the government’s agenda to create jobs, attract foreign investment, and alleviate poverty.
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Key representatives at the meeting included Akinwole Omoboriowo, CEO of GENESIS Energy; Mohammed Ibrahim, NADF Executive Secretary; and Dimeji Salaudeen from KPMG, among others.
Mohammed Manga, Director of Information and Public Relations in the Federal Ministry of Finance, stated that with the Federal Government’s backing, this pioneering initiative is poised to transform Nigeria’s food storage landscape. The project aims to ensure that fresh produce reaches consumers while reducing waste and losses.
“As the country takes bold steps towards achieving food security, this project serves as a beacon of hope for a hunger-free future,” he added.
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