150
The Federal Government has announced fresh agricultural investment incentives that it said could create 21 million jobs across the country. The new measures were unveiled on Tuesday as part of President Bola Tinubu’s economic agenda to boost food production, attract private investment and lift millions of Nigerians out of poverty.
Vice President Kashim Shettima made the disclosure at the Food and Agriculture Organisation’s National and Subregional Hand-in-Hand Investment Forum held in Abuja. Speaking at the event, Shettima described hunger as the “great equaliser” and stressed that Nigeria must intensify investment in irrigation, credit systems and mechanisation to strengthen its food security.
Senior Special Assistant to the Vice President on Media and Communications, Stanley Nkwocha, said in a statement titled ‘More incentives for farmers as FG unveils new agric investment incentives’ that the government will introduce single-window platforms for land registration, improve agricultural credit, scale up mechanisation and develop irrigation infrastructure.
According to the Vice President, Nigeria has the capacity to irrigate more than three million hectares of farmland but is currently using 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,” Shettima said. He added that agriculture is not just about survival but also a matter of global security.
He noted that the National Development Plan (2021–2025) is expected to create 21 million rural jobs, lift 35 million people out of poverty and secure food and nutrition sufficiency. Shettima assured local and international investors that Nigeria is open for business, pledging that reforms, public-private partnerships and agri-tech innovations will create new opportunities.
The Minister of Agriculture and Food Security, Abubakar Kyari, said Nigeria’s large domestic market, vast arable land and digital economy make it a prime investment destination for agribusiness. Similarly, the Minister of Budget and Economic Planning, Senator Atiku Bagudu, explained that agriculture remains central to Nigeria’s economic diversification and long-term development.
The forum also featured contributions from The Gambia’s Minister of Agriculture, Livestock and Food Security, Dr Demba Sabally, who praised Nigeria’s progress in rice and cassava production, urging other West African countries to emulate the success. The FAO Representative in Nigeria and ECOWAS, Dr Hussein Gadain, described the Hand-in-Hand Initiative as a flagship programme to accelerate agricultural transformation, end hunger and reduce malnutrition. He hailed Vice President Shettima for his “visionary leadership” in driving agricultural investment.
The Head of the EU Delegation to Nigeria, Mr Gautier Mignot, reaffirmed the EU’s commitment to agricultural development in Nigeria, citing a recent investment of over €80m to support value chains across seven states.
Despite the optimism, farmers urged the government to back its words with action. The National President of the All Farmers Association of Nigeria, Kabir Kebram, welcomed the announcements but insisted that implementation would determine success. “Definitely, it will boost if they are implemented. You can have a policy, but unless you implement it well, you cannot see the results,” Kebram said.
The Chairman of the Competitive African Rice Forum, Peter Dama, warned against “a cycle of promises without delivery,” pointing out that previous promises on tractors had not materialised. “Government can make statements, but the implementation might take some time. Already, we are moving toward the dry season. Pronouncements are different from implementation,” he said.
Also, the Small-Scale Women Farmers Organisation in Nigeria (SWOFON) criticised government interventions for failing to improve the situation of smallholder women farmers, who form the backbone of food supply in Nigeria. The National Secretary of SWOFON, Chinasa Asonye, said one-third of their key demands on access to land, credit and women-friendly machines had not been met. She noted that the government had failed to meet the 10 per cent budgetary allocation to agriculture recommended under the Malabo Declaration, with current spending below 1.9 per cent.
“If we keep waiting for the government, we will never do anything. Some states in the North are helping their farmers with grants and support. But in the South-West, including Lagos, farmers are not benefitting from these renewed initiatives,” she said.
The new agricultural incentives come at a time when Nigeria is struggling with rising food prices, inflation triggered by fuel subsidy removal and currency reforms, and increasing climate shocks. While the government is optimistic that the measures will boost food production and create jobs, many stakeholders say the real test lies in timely and effective implementation.
