The Federal Government has unveiled new incentives to attract investment in agriculture under President Bola Tinubu's Renewed Hope Agenda.
Vice President Kashim Shettima, speaking at the FAO National and Sub-regional Hand-in-Hand Investment Forum in Abuja, said the reforms would unlock Nigeria's vast food production potential through policies that cut red tape, expand credit systems, boost mechanisation, and drive irrigation projects.
He stressed that food security was a matter of global stability, adding that "strategic investment in irrigation alone could triple yields, free us from seasonal dependency, and fortify our resilience against climate shocks." Nigeria has the capacity to irrigate more than three million hectares of farmland but currently uses less than 10 percent.
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The government's blueprint under the 2021–2025 National Development Plan targets lifting 35 million people out of poverty, creating 21 million jobs in rural areas, and achieving nutrition sufficiency. For SMEs, this means access to new agribusiness opportunities across value chains.
Ministers Abubakar Kyari (Agriculture) and Atiku Bagudu (Budget & Economic Planning) described Nigeria's vast market, arable land, and fast-growing digital economy as unique attractions for investors. They noted that agribusiness remains central to diversification under the Renewed Hope Agenda.
The Gambia's Agriculture Minister, Dr Demba Sabally, hailed Nigeria's success in rice and cassava production as a model for the sub-region.
