MOFI unveils initiative to cater for agricultural operations, agribusiness

…to be launched across geo-political zones

The Federal Government, through the Ministry of Finance Incorporated (MOFI), has unveiled its flagship initiative known as Integrainium designed for the establishment of large-scale, agricultural operations that address critical challenges across key value chains, including crop cultivation, livestock, and aquaculture, across all the nation’s geopolitical zones.

The initiative, announced as Integrainium Investment Forum: Crop Farming Roundtable held in Abuja on Wednesday, is aimed at revolutionising the country’s agricultural landscape and improve food security nationwide.

Armstrong Ume Takang, Managing Director/CEO of MOFI, in his remarks, emphasised the importance of agriculture in driving Nigeria’s economic transformation, citing its direct impact on food security, job creation, rural development, and national stability.

He said “MOFI is the manager of federal government investment assets, which seeks to unlock the sector’s vast economic potential by developing entire value chains from improving farming practices and establishing efficient post-harvest storage systems, to building modern processing facilities and creating robust product trading and sales networks,”

Takang said highlighted that MOFI had built its operations around five strategic sectors, including agriculture, which plays a fundamental role in the nation’s economy.

The Integranium initiative represents one of MOFI’s most ambitious agricultural undertakings, aiming to span the six geopolitical zones of Nigeria.

According to Takang, “Food sovereignty is a matter of national security and for us to truly be an independent nation, we need to develop the capacity to produce our own food domestically.”

The CEO stressed the need for an ecosystem that creates opportunities for investors to invest more money into the agri-ecosystem across the entire value chain.

In his presentation, Femi Ogunseinde, Executive Director/Investment at MOFI, noted that agricultural transformation requires a systems-level approach, where investment is not treated as a transaction but as a tool for long-term institutional renewal.

“Nigeria’s agricultural sector faces significant obstacles despite contributing 20-26% of GDP and employing 70% of households in crop farming,” Ogunseinde said, highlighting losses of around $10 billion annually due to challenges in the sector.

“The Integranium program will launch in select states within each geopolitical region, partnering with state governments, technical service providers, and others”, he said.

Ogunseinde explained that the programme was designed to leverage each region’s farming strengths before expanding nationwide, with the goal of transforming Nigeria from subsistence farming to large-scale mechanised agriculture.

Addressing the issue of Nigeria’s agricultural products being rejected in international markets, Ogunseinde emphasised the need for a traceability system that ensures accountability and quality. “If we’re able to achieve this, then we expect yet more significant export opportunities and results from Nigerian farmers,” he stated.

Oluwole Adelokun, Partner at KPMG West Africa, highlighted the importance of solving the food security challenge for rapid economic productivity.

“Despite its huge potential, Nigeria remains a net importer of agricultural products with huge supply gaps,” Adelokun noted, citing significant opportunities in various agricultural products.

Abdullateef Shittu, Director General of the Nigeria Governors’ Forum, delivered a keynote address on creating long-lasting partnerships in crop farming, emphasising the need for collaboration and investment in the agricultural sector.