As part of efforts to improve the nation’s food security and reduce trade deficits, the federal government has assured its support for the soybean and sugar projects led by the Trans Sahara Consortium.
Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun made this announcement during the weekend at a meeting with a delegation from the consortium led by its chairman, Senator Ibrahim Turak. The projects designed to develop Nigeria’s agricultural sector are in line with President Bola Ahmed Tinubu’s vision for a more self-sufficient nation.
The Trans Sahara Consortium’s initiative involves the cultivation of 3 million hectares of soybean and the establishment of modern sugarcane processing plants. These projects are expected to yield millions of tons of soybean and sugar, not only meeting domestic demand but also creating opportunities for export.
The Minister described the consortium’s efforts as a “game-changer” for Nigeria’s agriculture, emphasizing the government’s commitment to supporting innovative projects that drive economic growth and empower Nigerian farmers. “This partnership marks a significant step towards realizing our vision for a prosperous Nigeria,” he said.
In a statement from the finance ministry, the minister described the Trans Sahara Consortium’s initiative as a transformative step for Nigeria’s agricultural sector. “We are dedicated to backing innovative projects that stimulate economic growth, enhance food security, and empower Nigerian farmers,” Edun said.