The Federal Government has launched an ambitious US$3.14 billion agricultural investment plan in partnership with the Food and Agriculture Organisation (FAO) of the United Nations Hand-in-Hand Initiative.
This initiative aims at transforming five key value chains, such as tomato, cassava, maize, dairy, and fisheries.
This was disclosed by the Minister of Agriculture and Food Security, Senator Abubakar Kyari, during his presentation at the National Hand-in-Hand Investment Forum in Abuja, saying the Hand-in-Hand initiative seeks to eradicate poverty, end hunger, and achieve food sovereignty while aligning with the United Nations Sustainable Development Goals (SDGs) and the African Union’s Comprehensive Africa Agriculture Development Programme (CAADP).
Kyari highlighted the investment’s potential to lift millions out of poverty, create jobs, and enhance food security, stating that the portfolio, which is supported by a combined commitment of US$1.75 billion in government funding and US$1.39 billion from the private sector, boasts a 14% average internal rate of return.
The minister said this is also expected to increase per capital incomes by up to US$657 and sequester over 1.2 million tonnes of carbon, contributing to global climate goals, saying, “Nigeria presents a robust and compelling 3.14 billion United States dollar investment portfolio under the FAO’s Hand-in-Hand Initiative, as the portfolio is strategically focused on five high-impact value chains of tomato, cassava, maize, dairy, and fisheries”.
He added that “These cases have been carefully selected through evidence-based analysis, taking into account, market demand, production potential, climate resilience, and socio-economic impact. Together, they offer a strong financial and developmental proposition, with an average internal rate of return above 14%. More than 4.1 million Nigerians stand to benefit directly and indirectly”.
Kyari noted further that these opportunities reflect Nigeria’s leadership in agriculture, the strength of the private sector, and the determination to transform declarations into action, stressing that the task, present concrete, bankable opportunities in agriculture and irrigation. “Nigeria is honoured to host this forum at a critical moment. Climate shocks, food insecurity, and malnutrition remain pressing challenges. But through irrigation, innovation, and targeted investment, we can turn these challenges into opportunities for sustainable growth, food sovereignty, and regional integration”, he noted.
Speaking at the occasion, the Vice President, Kashim Shettima announced fresh incentives to boost agricultural investment, with a target to lift 35 million Nigerians out of poverty and create 21 million full-time jobs in rural and agrarian communities.
Shettima explained that the new reforms would introduce single-window platforms for land registration, strengthen agricultural credit systems, expand irrigation infrastructure, and scale mechanisation to unlock Nigeria’s food production potential, noting that the government is re-engineering its policies to attract investment through regulatory reforms, public-private partnerships, and agri-tech innovations.
