The Federal Government has called on Investors, Financial Institutions and Development Partners to collaborate with Nigeria vision of building a resilient food system, climate smart farming and expanding sustainable agricultural production as well as unlocking the nation’s agricultural potential.
Speaking during the Nigeria-United Kingdom Investment Forum in London, England, recently, the Minister of Agriculture and Food Security, Sen. Abubakar Kyari highlighted Nigeria’s agricultural potential, citing its diverse agro-ecological zones and competitive production capabilities.
The Minister disclosed that Nigeria possesses the natural conditions required to support a broad spectrum of agricultural value chains like rice, maize and cassava, cocoa, sesame, sorghum as well as horticultural crops, noting that the commodities consumed across global markets can be produced competitively within Nigeria’s diverse agricultural landscape.
According to him, the impact of climate change, which poses significant risks to nations worldwide, manifested in prolonged droughts, erratic rainfall patterns, flooding, and desertification pose serious threat to agricultural productivity and food security, thereby underscoring the urgent need to transition to climate-resilient agriculture.
He added that to achieve this transition, a significant financing gap remains as current investment levels fall far short of what is required to build resilient food systems, deploy climate-smart technologies and scale innovation across agricultural value chains.
“While public financing remains essential, unlocking the scale of investment required will depend on stronger participation from private capital and development finance partners.
“Access to finance is a major constraint for farmers across Nigeria, significantly limiting the productivity across the sector. Despite the prevalence of credit schemes across the country, total credit accessible by farmers is still significantly limited, reaching 3.4trillion as at April 2025. Whilst this value may look significant, it is less than 4% of the contribution of agriculture to the country’s GDP.” Kyari said
The Minister revealed that to address these challenges, President Bola Ahmed Tinubu declared a national state of emergency on food security in July 2023, shortly after taking office. A year later, Vice President Kashim Shettima inaugurated the Presidential Food Systems Coordinating Unit (PFSCU) to ensure alignment of interventions across all three tiers of government.
He mentioned that the Federal Government has also initiated several programmes, including distribution of solar-powered irrigation pumps to smallholder farmers to promote all-season farming and improve water efficiency among others
He disclosed that to reduce investment risk and mobilize greater private capital, the Federal Government is strengthening institutions such as the Bank of Agriculture (BoA), the Nigeria Agricultural Development Fund (NADF), and the National Agricultural Insurance Corporation (NAIC). Additionally, the National Agricultural Land Development Authority (NALDA) is undergoing restructuring to enhance its capacity to support large-scale agricultural investments and land management initiatives.
He added that the Nigerian Agricultural Quarantine Service is also being strengthened to ensure enhanced phytosanitary and zoosanitary controls, facilitating safer international trade and boosting investor confidence in Nigeria’s agricultural sector.
The Minister emphasized opportunities for investment in irrigation technologies, mechanization services, resilient seed development, cold-storage infrastructure, commodity aggregation systems, agro-processing, and agricultural logistics.
He expressed the Federal Government’s commitment to creating an enabling environment for investors, with initiatives aimed at strengthening agricultural value chains and promoting sustainable agriculture.
Sen. Kyari invited UK investors to explore opportunities in Nigeria’s agricultural sector, emphasizing potential for collaboration through joint investment platforms, innovative credit guarantee structures, and sustainable agribusiness financing aligned with Environmental, Social and Governance principles.