President Barrow revitalizes National Food Security Corporation

President Barrow met with the Board of Directors and the Management team of the National Food Security, Processing, and Marketing Corporation (NFSPMC) to discuss the state of the corporation and its ongoing efforts to reform and revitalize it.

President Barrow expressed gratitude to the team for their dedication in reviving the corporation, highlighting the challenges his government had inherited, including wrongful termination and costly expenses. He emphasized that the funds spent on rectifying these issues could have been used to recapitalize the corporation.

The President commended NFSPMC for their collaboration with farmers and assured them of his administration’s support. He also suggested exploring innovative funding channels to further strengthen the corporation’s financial stability.

President Barrow stressed the importance of adding value to the main cash crop, groundnut, and reiterated his government’s commitment to supporting value addition and sustainable food security policies.

During the briefing, Seyfo Falalo Touray, the Chairman of NFSPMC, informed the President that the Board is actively working on reviving the corporation by hiring qualified staff. The corporation has also provided subsidized fertilizer and seeds to farmers with the support of the government.

Muhammed Njie, the Managing Director of NFSPMC, presented a report on the progress made in reforming the corporation. This includes enhancing governance and operations, completing outstanding audits, submitting reports to the SOE Commission, advancing the processing plant, and exploring alternative energy sources and digitalization.

Dr. Demba Sabally, the Agriculture Minister, assured NFSPMC of the government’s commitment to supporting their efforts. He also revealed that the Cabinet has approved a Cooperative Policy that will guide the ongoing reforms.

The meeting at the state House showcased the government’s determination to revitalize the NFSPMC and ensure sustainable food security for the nation. With collaborative efforts, innovative funding, and a focus on value addition, the corporation is set to play a crucial role in the agriculture sector and contribute to the overall development of the country.