Nigeria raises $500M for food systems transformation, Shettima reveals to UN

<p>Shettima explains how FG raised half a million dollars for food initiative.</p>, <span>Vice President Kashim Shettima on the first day of the UN Food Systems Summit 2023 Presidency</span>, <h2>Vice President Kashim Shettima announced that Nigeria has successfully mobilised over half a billion dollars to support an innovative, profitable, equitable, and sustainable food systems transformation initiative.</h2>, <p>The Vice President made this significant disclosure while chairing a high-level meeting at the UN Food Systems Summit held in Rome, Italy, and attended by global leaders and representatives.</p>, <p>The funds, as stated by Vice President Shettima, were raised through a combination of domestic resources, multilateral development banks, international financial institutions, climate funds, and leading agro-businesses.</p>, <p>These resources will be strategically allocated to three key areas: "Innovation finance for food system transformation; development of Nigeria’s agro value chain, and Special Agro-Industrial Processing Zones programs."</p>, <p>One remarkable example that the Nigerian government is showcasing during the summit is the Value Chain Development Programme (VCDP). Co-funded by Nigeria and the International Fund for Agricultural Development (IFAD), the VCDP has proved to be a successful partnership between producers, the public sector, and private operators.</p>, <p>This initiative has empowered vulnerable farmers and youth by enabling them to engage in commercial partnerships with prominent food processing and marketing firms, including OLAM, a world-leading agri-business company.</p>, <h2>President Tinubu's commitment to food system transformation</h2>, <p>Vice President Shettima expressed the government's vision to eradicate hunger and uplift Nigeria's rural smallholders, operators, youth, and women living below the poverty line. The government aims to accomplish this by leveraging the newly established Special Agro-Industrial Processing Zones (SAPZ).</p>, <p>The SAPZ brings together vari