In a major step to address food insecurity and reduce post-harvest losses, the Federal Government has pledged its support for the Cold Storage Initiative, aimed at improving food storage and enhancing the country’s food security.
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, made this announcement during a meeting in his Abuja office with a delegation from the National Agricultural Development Fund (NADF), GENESIS Energy Group, USAID, and KPMG.
Director of Information and Public Relations, Mohammed Manga in a statement indicated that the meeting focused on establishing a strategic partnership to implement solar-powered cold storage facilities and optimize logistics systems across Nigeria.
The delegation shared updates on their ongoing efforts to introduce cold storage solutions in key agricultural hubs nationwide.
The initiative is expected to tackle significant post-harvest losses, improve food supply chains, and ensure a more consistent availability of fresh produce.
Minister Edun commended the project, highlighting its alignment with President Bola Ahmed Tinubu’s commitment to food security.
He noted that recent economic reforms, including fuel and foreign exchange pricing adjustments, have stabilized the economy and opened up opportunities for investment.
He further assured the delegation of the Ministry’s full support for the initiative, recognizing its potential to create jobs, attract foreign investment, and contribute to poverty alleviation.
The meeting was attended by key representatives, including Akinwole Omoboriowo, CEO of GENESIS Energy; Mohammed Ibrahim, Executive Secretary of NADF; and Dimeji Salaudeen of KPMG, among others.
With the Federal Government’s backing, this initiative is set to revolutionize the food storage sector, ensuring the preservation of agricultural produce, reducing waste, and ultimately enhancing Nigeria’s food security. This project marks a major step forward in the country’s goal of achieving long-term food security.