The Federal Government of Nigeria has introduced new incentives to boost agricultural investment as part of President Bola Tinubu’s Renewed Hope Agenda. This initiative aims to unlock the country’s vast food‑production potential through innovative policies and investments in agriculture and infrastructure.
Vice President Shettima announced the incentives at the Food and Agriculture Organization of the United Nations (FAO) National and Sub‑regional Hand‑in‑Hand Investment Forum in Abuja. He stressed that Nigeria must leverage its strengths to ensure a future of abundance, noting the global security implications of hunger: “Food is not merely a matter of survival; it is a matter of global security.” The country faces pressure to reduce reliance on imports and address food insecurity, problems that have worsened since the removal of fuel subsidies and currency reforms triggered higher inflation in 2023.
To confront these challenges, the government has introduced measures such as single‑window platforms for land registration, strengthened agricultural credit systems, large‑scale mechanisation, and strategic irrigation projects. The Vice President highlighted that Nigeria has the capacity to irrigate over three million hectares of farmland but currently uses less than 10 % of this potential. He believes that strategic investment in irrigation could triple yields, reduce seasonal dependency, and enhance resilience against climate shocks.
The government’s blueprint, outlined in the 2021‑2025 National Development Plan, aims to lift 35 million people out of poverty, create 21 million jobs in rural communities, and achieve food and nutrition sufficiency. Minister of Agriculture and Food Security Abubakar Kyari pointed to Nigeria’s unique opportunities for investors, including a large domestic market, abundant arable land, and a growing digital economy. Minister of Budget and Economic Planning Senator Atiku Bagudu added that Nigeria’s economic potential—particularly in agriculture and irrigation—remains largely untapped and holds significant promise for diversification and transformation.
Investors have been assured that regulatory reforms, public‑private partnerships, and agri‑tech innovations will make Nigeria an attractive destination for investment. The introduction of these incentives marks a significant step toward addressing food‑insecurity challenges and promoting economic growth. As the Renewed Hope Agenda progresses, the country is likely to see increased investment in the agricultural sector, leading to improved food production and reduced reliance on imports.
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