By Abiodun Abdullai
Nigeria is partnering with the Food and Agriculture Organisation (FAO) to roll out a $3.14 billion agricultural investment portfolio targeting five value chains – tomato, cassava, maize, dairy, and fisheries.
The programme, launched under FAO's Hand-in-Hand Initiative, is designed to improve food security, create jobs, and expand opportunities for smallholder farmers and agribusinesses.
According to the Minister of Agriculture and Food Security, Sen. Abubakar Kyari, the portfolio combines $1.75 billion in government funding with $1.39 billion from the private sector, offering an estimated 14% average return. He said the investments will increase incomes, reduce poverty, and unlock climate gains.
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Kyari noted that with only 20% of Nigeria's 70 million hectares of arable land currently in use, the country represents a top destination for agricultural investment. Priority projects include Agro-Industrial Processing Zones, cold chain expansion, Bank of Agriculture recapitalisation, and support for local input manufacturing.
FAO Country Representative, Dr. Hussein Gadain, described the initiative as a "game-changer" that will strengthen rural resilience and attract more private sector participation.
The European Union, through Ambassador Gautier Mignot, also pledged deeper collaboration, citing its recent €80 million investment across seven Nigerian states to develop agribusiness value chains.
For MSMEs in agriculture, the portfolio promises better financing, stronger market access, and new opportunities across processing and supply chains.
