FG has unveiled new agricultural investment incentives and promised 21 million jobs.
NewsOnline Nigeria reports that the Federal Government on Tuesday unveiled a comprehensive set of agricultural investment incentives, aimed at creating 21 million jobs and transforming rural economies across Nigeria. The move forms a key part of President Bola Tinubu’s economic agenda, with reforms designed to expand irrigation, enhance access to credit, and promote large-scale mechanisation.
Vice President Kashim Shettima presented the plans at the Food and Agriculture Organisation’s (FAO) National and Subregional Hand-in-Hand Investment Forum in Abuja, describing hunger as “the great equaliser that reveals our vulnerabilities and the shared fragility of our existence.”
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Senior Special Assistant to the Vice President on Media and Communications, Stanley Nkwocha, provided details of the forum in a statement titled “More Incentives for Farmers as FG Unveils New Agric Investment Incentives.”
Key Measures Announced
The government’s package includes:
Single-window platforms for land registration
Strengthened agricultural credit systems
Strategic irrigation projects
Large-scale mechanisation to boost productivity
The initiatives come amid rising food prices and climate-related challenges, which have intensified calls for long-term investment in the sector. Nigeria’s reliance on food imports and worsening food insecurity—exacerbated by the 2023 fuel subsidy removal and currency reforms—underscore the urgency of these reforms.
Shettima noted that Nigeria has the capacity to irrigate over three million hectares of farmland but currently utilises less than 10 percent of that potential. “Strategic investment in irrigation alone could triple yields, free us from seasonal dependency, and fortify our resilience against climate shocks,” he said.
He added that the 2021–2025 National Development Plan aims to lift 35 million people out of poverty, create 21 million rural jobs, and achieve food and nutrition sufficiency.
Nigeria “Open for Business”
Shettima assured investors that regulatory reforms, public-private partnerships, and agri-tech innovations would make Nigeria a welcoming environment for agricultural investment.
“Nigeria is open for business, and we are ready to partner with you,” he said. “Let us work hand-in-hand to build a nation where no one goes to bed hungry, rural communities thrive as wealth hubs, and agriculture becomes the true foundation of prosperity.”
Minister of Agriculture and Food Security Abubakar Kyari highlighted Nigeria’s large domestic market, arable land, favourable climate, and growing digital economy as unique investment opportunities. Similarly, Minister of Budget and Economic Planning Senator Atiku Bagudu stressed agriculture and irrigation as key areas for economic diversification and transformation.
Regional and International Support
Dr Demba Sabally, Minister of Agriculture, Livestock and Food Security of The Gambia, commended Nigeria’s leadership in the sector and encouraged peer review across West African countries to leverage shared opportunities.
Dr Hussein Gadain, FAO’s representative to Nigeria and ECOWAS, described the Hand-in-Hand Initiative as a country-led programme to accelerate agricultural transformation, reduce poverty and malnutrition, and advance the SDGs.
Gautier Mignot, Head of the EU Delegation in Nigeria, reaffirmed the EU’s commitment to supporting agricultural value chains, noting a recent €80 million investment across seven Nigerian states.
Farmers Call for Action
Despite the announcements, Nigerian farmers emphasised the need for tangible follow-through. Kabir Kebram, National President of the All Farmers Association of Nigeria, urged prompt implementation to translate policies into measurable results.
Peter Dama, Chairman of the Competitive African Rice Forum, warned against “a cycle of promises without delivery,” stressing that timely implementation is critical to align with Nigeria’s farming calendar.
Small-scale women farmers, represented by SWOFON National Secretary Chinasa Asonye, criticised past interventions for failing to benefit grassroots producers, highlighting gaps in access to loans, land, and women-friendly machinery. She lamented that government spending remains opaque and significantly below the 10 percent allocation recommended under the Malabo Declaration, with less than 1.9 percent currently devoted to agriculture.
Asonye noted that while initiatives like the school feeding programme previously supported smallholders, current programs are not reaching those most in need. “We will continue to voice our issues and hope the government listens,” she said.
