On Tuesday, the Federal Government announced a comprehensive package of new incentives aimed at attracting investment into Nigeria’s agricultural sector—an initiative expected to generate 21 million jobs across the country.
The government also committed to reforms that will expand irrigation infrastructure, improve access to agricultural credit, and drive rural job creation as part of President Bola Tinubu’s broader economic strategy.
Vice President Kashim Shettima outlined these initiatives during the Food and Agriculture Organisation’s (FAO) National and Subregional Hand-in-Hand Investment Forum held in Abuja. He described hunger as “the great equaliser” that exposes human vulnerability and underscores the fragility of global food security.
Details of the forum were shared in a statement by Stanley Nkwocha, Senior Special Assistant to the Vice President on Media and Communications, titled ‘More Incentives for Farmers as FG Unveils New Agric Investment Incentives’.
Among the measures introduced are:
A single-window platform for land registration
Enhanced agricultural credit systems
Expansion of large-scale mechanised farming
Strategic irrigation development
These initiatives come at a time when Nigeria is grappling with rising food prices and climate-related disruptions—factors that have intensified the urgency for sustained investment in agriculture.
The country faces increasing pressure to reduce dependence on food imports and address growing food insecurity, exacerbated by the 2023 fuel subsidy removal and currency reforms, which triggered inflation.
Highlighting Nigeria’s untapped potential, Vice President Shettima noted that while the country has the capacity to irrigate over three million hectares of farmland, less than 10% of that is currently utilised.
“Investing strategically in irrigation could triple agricultural yields, reduce seasonal farming dependence, and strengthen our resilience to climate shocks,” he said.
“Hunger unites us all—it is the great equaliser. Food is not just about survival; it is a cornerstone of global security,” Shettima emphasized.
He further referenced the National Development Plan (2021–2025), which aims to lift 35 million people out of poverty, create 21 million jobs in rural areas, and achieve food and nutrition security.
The Vice President assured potential investors of Nigeria’s commitment to regulatory reform, public-private partnerships, and agri-tech innovation, stating:
“Nigeria is open for business. We invite you to partner with us to build a nation and subregion where no one sleeps hungry, where rural areas become centers of wealth, and where agriculture becomes the bedrock of prosperity.”
Minister of Agriculture and Food Security, Abubakar Kyari, also spoke at the event, describing Nigeria’s expansive market, fertile land, and growing digital economy as unique advantages for agricultural investors.
Supporting this view, Minister of Budget and Economic Planning, Senator Atiku Bagudu, highlighted agriculture and irrigation as untapped opportunities that could drive economic diversification and transformation.
He reaffirmed agriculture’s central role in Nigeria’s medium- and long-term development goals, aligning with the Renewed Hope Agenda of President Tinubu.
Dr. Demba Sabally, Gambia’s Minister of Agriculture, Livestock and Food Security, commended both the FAO and Nigeria for hosting the forum. He praised Nigeria’s leadership in agriculture, particularly its achievements in rice and cassava production, which he said could serve as models for other nations in the subregion.
