Nigeria is spending over $10 billion annually importing food items such as wheat, rice, sugar, fish, and tomato paste, a situation the Federal Government has said must be reversed through stronger financing of agriculture and value-driven exports.
Minister of Agriculture and Food Security, Senator Abubakar Kyari, speaking through his Special Assistant, Ibrahim Alkali, at the First Bank of Nigeria 2025 Agric and Export Expo in Lagos, warned that the current dependence on imports undermines both food sovereignty and economic stability.
He noted that despite agriculture contributing 35% to GDP and employing the same share of the workforce, Nigeria still accounts for less than 0.5% of global agro-exports, earning under $400 million annually. “We have the land, the labour, and the markets. What we lack is the system of financing, value addition, and infrastructure that can turn potential into prosperity,” Kyari said.
The minister stressed that the Tinubu administration is committed to food sovereignty, defined not only as the ability to feed Nigerians without excessive import dependence but also as building resilience against global supply shocks. He called for innovative financing models, from structured farmer credit systems to forward contracts and performance-linked lending — to unlock the sector’s potential.
On exports, Kyari emphasised that volumes alone are not enough, insisting on internationally accepted quality, certification, and traceability to prevent costly rejections in global markets.
He urged investment in storage, laboratories, and logistics infrastructure to ensure Nigerian produce competes globally.
“Boosting domestic production and supporting exports are not separate agendas, they are two sides of the same coin. Export earnings are what build reserves, reduce inflation, and stabilise the exchange rate.”
Echoing the call for diversification, Lagos State Governor Babajide Sanwo-Olu urged Nigeria to urgently move away from oil dependence, while commending the federal government’s efforts, the Governor warned that current agricultural exports remain below expectations.
Sanwo-olu, however, pledged his administration’s support through road infrastructure, digital trade platforms, and partnerships that ease farmers’ access to markets.
Also speaking, Niger State Governor Umar Bago promised to complement Lagos’ efforts by making 100,000 acres of farmland available, reinforcing inter-state collaboration to expand national food production.
