The Federal Government has intensified efforts to attract foreign investment into Nigeria’s agricultural sector, calling for stronger collaboration with investors, financial institutions, and development partners to build a resilient food system and expand sustainable production.
Speaking at the Nigeria–United Kingdom Investment Forum in London, the Minister of Agriculture and Food Security, Abubakar Kyari, highlighted Nigeria’s vast agricultural potential and the urgent need to scale investment to unlock it.
He noted that agriculture remains a cornerstone of Nigeria’s economy, employing nearly 70 percent of the labour force and contributing over 24 percent to the nation’s Gross Domestic Product, while also serving as a key driver of rural livelihoods and inclusive growth, particularly for women and youth.
Kyari emphasised that Nigeria’s diverse agro-ecological zones support the competitive production of key commodities such as rice, maize, cassava, cocoa, sesame, sorghum, and horticultural crops, positioning the country as a viable supplier to both domestic and international markets.
However, he warned that climate change continues to threaten agricultural productivity, citing prolonged droughts, erratic rainfall, flooding, and desertification as major risks to food security. He stressed the urgent need to transition to climate-resilient farming systems.
The minister disclosed that achieving this transition requires significant capital, noting that current financing levels fall short of what is needed to deploy climate-smart technologies, scale innovation, and strengthen value chains. He added that access to finance remains a major constraint for farmers, with total agricultural credit estimated at N3.4 trillion as of April 2025—less than four percent of the sector’s contribution to GDP.
Kyari pointed out that the administration of President Bola Tinubu had declared a national state of emergency on food security in July 2023 to address these challenges. He added that Vice President Kashim Shettima subsequently inaugurated the Presidential Food Systems Coordinating Unit to harmonise interventions across all levels of government.
He outlined several ongoing initiatives, including the distribution of solar-powered irrigation pumps to support all-season farming and improve water efficiency, as well as the development of climate-resilient seed varieties such as drought-tolerant sorghum and millet, improved maize hybrids, resilient cassava, and flood-tolerant rice.
Other programmes include the National Agricultural Mechanization Programme, which has facilitated the procurement of 2,000 tractors and over 9,000 farm implements, alongside the Nigeria Postharvest Systems Transformation Programme aimed at improving storage, handling, and market access. He also referenced the Special Agro-Industrial Processing Zones initiative, designed to link production hubs with processing and logistics infrastructure.
To reduce investment risks and attract private capital, the Federal Government is strengthening key institutions, including the Bank of Agriculture, the Nigeria Agricultural Development Fund, and the National Agricultural Insurance Corporation, while restructuring the National Agricultural Land Development Authority to support large-scale investments.
Kyari further noted that the Nigerian Agricultural Quarantine Service is being enhanced to improve phytosanitary and zoosanitary standards, thereby facilitating safer international trade and boosting investor confidence.
He identified priority investment areas such as irrigation technologies, mechanisation services, resilient seed systems, cold storage infrastructure, agro-processing, commodity aggregation, and agricultural logistics.
Reaffirming the government’s commitment to creating an enabling environment, the minister invited UK investors to explore partnership opportunities through joint investment platforms and innovative financing models aligned with environmental, social, and governance principles.
He stressed that Nigeria possesses the market size, policy direction, and resource base required to transform its agricultural sector, urging stakeholders to support efforts aimed at strengthening food systems both nationally and globally.
