The Federal Government on Tuesday unveiled fresh incentives aimed at attracting large-scale investment into Nigeria’s agricultural sector. The measures, according to Vice President Kashim Shettima, are designed to expand irrigation, improve farmers’ access to credit, accelerate mechanisation, and create millions of rural jobs under President Bola Tinubu’s economic reform agenda.
Shettima announced the new policies while addressing participants at the Food and Agriculture Organisation’s National and Subregional Hand-in-Hand Investment Forum in Abuja. He described hunger as “the great equaliser that exposes humanity’s vulnerabilities and fragility,” stressing that food security is as much a matter of global stability as it is of survival.
The Senior Special Assistant to the Vice President on Media and Communications, Stanley Nkwocha, outlined details of the meeting in a statement titled ‘More incentives for farmers as FG unveils new agric investment incentives’.
According to the Vice President, the new approach will be anchored on single-window platforms for land registration, strengthened credit facilities for farmers, large-scale mechanisation projects, and expanded irrigation schemes. He emphasised that Nigeria has the natural capacity to irrigate more than three million hectares of farmland, but less than 10 per cent of that potential is currently being utilised.
“Strategic investment in irrigation alone could triple yields, free us from seasonal dependency, and fortify our resilience against climate shocks,” Shettima said.
Highlighting the scale of the government’s ambition, he pointed to the 2021–2025 National Development Plan, which seeks to lift 35 million people out of poverty, create 21 million jobs in rural communities, and guarantee food and nutritional sufficiency across the country.
Shettima assured international and local investors that ongoing regulatory reforms, new public-private partnerships, and agri-tech innovations would make Nigeria one of Africa’s most competitive agricultural markets.
“Nigeria is open for business, and we are ready to partner with you,” he declared. “Let us work hand-in-hand to build a country and a subregion 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.”
The Minister of Agriculture and Food Security, Abubakar Kyari, also addressed the forum, stressing that Nigeria’s vast domestic market, abundant arable land, favourable weather, and rapidly growing digital economy present unmatched opportunities for investors across the agricultural value chain.
Similarly, the Minister of Budget and Economic Planning, Senator Atiku Bagudu, observed that agriculture and irrigation remain central to Nigeria’s economic diversification drive and a cornerstone of Tinubu’s Renewed Hope Agenda. He noted that the country’s untapped agricultural potential represents a major opportunity for transformation.
Regional and international partners at the forum also voiced strong support. The Gambian Minister of Agriculture, Livestock and Food Security, Dr Demba Sabally, praised Nigeria’s progress in the rice and cassava value chains and urged peer review among West African countries to accelerate shared growth.
On his part, the FAO Representative in Nigeria and ECOWAS, Dr Hussein Gadain, described the Hand-in-Hand Initiative as a flagship programme designed to accelerate rural development and eradicate hunger. He commended Nigeria’s clear agricultural priorities and Shettima’s “unmatched passion for food security,” which he said had been instrumental in attracting investment and fostering innovation.
The Head of the European Union Delegation to Nigeria, Mr Gautier Mignot, reiterated the EU’s commitment to long-term agricultural investment in the country. He revealed that the EU recently committed more than €80 million to unlock opportunities in key value chains across seven Nigerian states.
The new incentives were unveiled against the backdrop of rising food prices, climate shocks, and mounting calls for sustainable agricultural investment. Food insecurity has worsened in recent years following the removal of fuel subsidies and currency reforms in 2023, which pushed inflation higher and deepened Nigeria’s reliance on food imports.
Government officials expressed confidence that the new measures—focused on irrigation, credit access, land reforms, and mechanisation—will not only reduce dependence on imports but also transform agriculture into a driver of rural prosperity and national stability.
