The Federal Government has introduced new incentives to enhance agricultural investment as part of President Bola Tinubu’s Renewed Hope Agenda.
These initiatives align with ongoing reforms aimed at tapping into Nigeria’s immense potential for food production through innovative policies that transform agriculture and infrastructure investments in the nation.
During the Food and Agriculture Organization of the United Nations (FAO) National and Sub-regional Hand-in-Hand Investment Forum in Abuja on Tuesday, Vice President Shettima emphasized that hunger is a global security concern, urging Nigeria to leverage its strengths to ensure a future of abundance.
“Nothing unifies humanity as much as hunger. It is the great equaliser that reveals our vulnerabilities and the shared fragility of our existence. Food is not merely a matter of survival; it is a matter of global security,” he said.
Stanley Nkwocha, Senior Special Assistant to the Vice President on Media and Communications, provided details of the discussions held at Tuesday’s meeting.
Nigeria has faced increasing pressure to reduce its dependence on imports and tackle food insecurity, which intensified following the removal of fuel subsidies and currency reforms that drove inflation in 2023.
The new measures include single-window platforms for land registration, enhanced agricultural credit systems, widespread mechanization, and strategic irrigation projects.
Shettima highlighted Nigeria’s potential to irrigate over three million hectares of farmland, noting that less than 10 percent of this capacity is currently utilized.
“Strategic investment in irrigation alone could triple yields, free us from seasonal dependency, and fortify our resilience against climate shocks,” he stated.
“Nothing unifies humanity as much as hunger. It is the great equaliser that reveals our vulnerabilities and the shared fragility of our existence,” Shettima reiterated.
“Food is not merely a matter of survival; it is a matter of global security,” he further emphasized.
The Vice President explained that Nigeria’s 2021–2025 National Development Plan aims to lift 35 million people out of poverty, generate 21 million jobs in rural areas, and achieve food and nutrition security.
Shettima underscored the transformative potential of irrigation, pointing out that Nigeria’s river basins and aquifers could irrigate over three million hectares, yet less than ten percent is currently used.
“Strategic investment in irrigation alone could triple yields, free us from seasonal dependency, and fortify our resilience against climate shocks,” he added.
He reassured investors that regulatory reforms, public-private partnerships, and agri-tech innovations would position Nigeria as an attractive destination for business.
“Nigeria is open for business, and we are ready to partner with you. Let us work hand-in-hand to build Nigeria and a sub-region where no one goes to bed hungry, where rural communities are hubs of wealth creation, and where agriculture is the true foundation of our prosperity,” VP Shettima stated.
The Minister of Agriculture and Food Security, Abubakar Kyari, earlier highlighted Nigeria’s domestic market, vast arable land, favorable climate, and rapidly growing digital economy as prime opportunities for investors.
He noted that the combination of Nigeria’s market size, extensive arable land, favorable weather, and expanding digital economy creates unique investment prospects across the agribusiness ecosystem.
Senator Atiku Bagudu, the Minister of Budget and Economic Planning, stated that Nigeria’s economic potential, particularly in agriculture and irrigation, remains largely untapped, offering significant opportunities for economic diversification and transformation.
He emphasized that agriculture, especially agribusiness, is a critical element of Nigeria’s medium- and long-term national development plan and President Tinubu’s Renewed Hope Agenda.
Dr. Demba Sabally, The Gambia’s Minister of Agriculture, Livestock and Food Security, praised the FAO for organizing the event and commended Nigeria’s leadership in agriculture, citing its achievements in the rice and cassava value chains as models for other countries in the sub-region and beyond.
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