The Federal Government on Tuesday announced new incentives aimed at attracting more investments into agriculture.
Vice President Kashim Shettima, who unveiled the plans at the Food and Agriculture Organisation’s National and Subregional Hand-in-Hand Investment Forum in Abuja, said the measures would expand irrigation, improve access to credit, and create millions of jobs in rural communities.
Shettima described hunger as “the great equaliser that reveals our vulnerabilities and the shared fragility of our existence.”
According to a statement by his media aide, Stanley Nkwocha, the new measures include a single-window platform for land registration, mechanisation, strategic irrigation projects and strengthened agricultural credit systems.
The vice president said Nigeria has the capacity to irrigate over three million hectares of farmland but currently uses less than 10 per cent 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 explained that under the 2021–2025 National Development Plan, government targets lifting 35 million people out of poverty, creating 21 million rural jobs, and achieving food and nutrition sufficiency.
Shettima assured investors that reforms, public-private partnerships and agri-tech innovations would make Nigeria attractive for business.
“Nigeria is open for business, and we are ready to partner with you,” he said.
Minister of Agriculture and Food Security, Abubakar Kyari, said Nigeria’s arable land, large domestic market and growing digital economy offer unique opportunities for investors.
Also speaking, Minister of Budget and Economic Planning, Senator Atiku Bagudu, noted that the country’s agricultural potential remains largely untapped, especially irrigation.
The Gambian Minister of Agriculture, Livestock and Food Security, Dr Demba Sabally, commended Nigeria’s progress in rice and cassava production and urged countries in the region to embrace peer review to overcome common challenges.
Similarly, FAO’s representative in Nigeria and ECOWAS, Dr Hussein Gadain, described the Hand-in-Hand Initiative as a flagship programme designed to accelerate agricultural transformation and reduce poverty.
He commended Shettima’s “genuine commitment and visionary leadership” in driving investment and innovation in the sector.
Head of the EU Delegation in Nigeria, Mr Gautier Mignot, said the EU has committed more than €80 million to support value chain development across seven states.
The new incentives come at a time of rising food prices and inflation, worsened by climate shocks, fuel subsidy removal and currency reforms.