How Nigeria's private sector can help address food insecurity

Nigeria is facing a looming food crisis exacerbated by the COVID-19 pandemic, conflict, and climate change. A joint report by the United Nations World Food Programme and FAO has highlighted the urgent need to address food insecurity in the country. To tackle this issue, the UNWFP has launched the Zero Hunger Roundtable initiative to engage the private sector in innovative solutions. Ma Yankabra, the Head of Treasury for Africa at the Tolaram Group, recently joined a discussion on CNBC Africa to shed light on how the private sector can contribute to achieving sustainable development goals, specifically focusing on ending hunger in Nigeria. The Zero Hunger Roundtable, spearheaded by the UNWFP, aimed to connect investors with startups working towards solving Nigeria's hunger crisis. Yankabra commended this initiative, emphasizing the importance of bridging the gap between the private sector and innovative solutions for food security. The quality of ideas and the level of preparation showcased during the pitch sessions were noted to be impressive, indicating a positive trend towards addressing Nigeria's hunger problems effectively. The pitches ranged from providing affordable food and nutrition to solutions in the supply chain and agricultural integration spaces. This comprehensive approach bodes well for tackling food insecurity across the entire value chain infrastructure. Yankabra expressed optimism about the continuity of such initiatives in the future, underscoring the potential for long-term private sector involvement in combating food insecurity. The private sector's role in complementing government efforts in addressing food insecurity is crucial, particularly in the last mile distribution and manufacturing of food. Yankabra highlighted Tolaram Group's commitment to Nigeria, citing the company's significant presence in the food sector. The group has announced investments in three startups, totaling millions of Naira, with a focus on mentoring and scaling their innovative business models. These startups, if successful, are expected to have a far-reaching impact on the food value chain, addressing key challenges like logistics, storage, and wastage. By leveraging the private sector's expertise and resources, these startups have the potential to make a significant contribution to improving food security in Nigeria. Achieving Sustainable Development Goal 2, which aims to end hunger in Africa, remains a complex challenge, compounded by the disruptions caused by COVID-19. Yankabra emphasized the importance of collaborative efforts between the private sector, government agencies, and international organizations to navigate these challenges effectively. The Tollum Group is actively engaged in supporting initiatives related to food security, with a focus on mentoring upcoming startups and partnering with them to scale their businesses. Yankabra reiterated the group's commitment to driving positive change in addressing food insecurity in Nigeria through innovation and collaboration. As the private sector continues to play a pivotal role in shaping the future of food security in Nigeria, initiatives like the Zero Hunger Roundtable serve as a beacon of hope in the fight against hunger. By fostering collaboration and investment in innovative solutions, Nigeria can work towards a sustainable future where no one goes hungry.