The federal government has endorsed the Cold Storage Initiative, a programme designed to reduce post-harvest losses and enhance food security nationwide.

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, expressed this support during a meeting with representatives of the National Agricultural Development Fund (NADF), GENESIS Energy Group, USAID, and KPMG in Abuja.

The delegation presented a strategic plan for deploying solar-powered cold room storage and logistics systems across the country.

Highlighting the initiative’s potential, the delegation outlined their collaboration with stakeholders to establish cold storage facilities at strategic locations.

These facilities aim to minimize farm produce losses and streamline supply chains, addressing one of the most significant challenges facing Nigeria’s agricultural sector.

Mr Edun commended the effort, stressing that food security is a central focus of President Bola Ahmed Tinubu’s administration.

He noted that recent economic reforms, including the implementation of market-based pricing for fuel and foreign exchange policies, have stabilised the economy and created a favorable environment for investment.

“This project aligns perfectly with the government’s agenda to create jobs, attract foreign investments, and alleviate poverty,” Edun said, assuring the delegation of the Ministry’s full support.

He stated that initiatives like this are crucial for fostering a sustainable agricultural sector and ensuring that fresh produce reaches consumers efficiently.

Key stakeholders at the meeting included Akinwole Omoboriowo, CEO of GENESIS Energy; Mohammed Ibrahim, NADF Executive Secretary; and Dimeji Salaudeen from KPMG.

A statement from the ministry of finance noted: “With federal backing, the Cold Storage Initiative is poised to transform Nigeria’s food storage infrastructure, reducing waste and enhancing food security. This development marks a significant step toward ensuring a hunger-free future for Nigeria.”