FG unveils fresh incentives to improve agricultural investment

By Kunle Sanni –

The Federal Government has introduced new incentives aimed at attracting investment into Nigeria’s agriculture sector, focusing on boosting food production, creating jobs, and improving rural livelihoods under President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Vice President Kashim Shettima announced the initiative on Tuesday in Abuja at the UN Food and Agriculture Organisation (FAO) National and Subregional Hand-in-Hand Investment Forum. He stated that the reforms are designed to unlock Nigeria’s agricultural potential through improved access to land, credit, irrigation, and mechanisation.

“Nothing unifies humanity as much as hunger. Food is not merely a matter of survival; it is a matter of global security,” Shettima said.

He explained that the government is setting up single-window platforms for land registration, expanding irrigation infrastructure, strengthening agricultural credit systems, and scaling up mechanisation to reduce drudgery and enhance productivity.

Highlighting irrigation as a key game-changer, the Vice President noted that Nigeria’s river basins and aquifers could irrigate over three million hectares of farmland, but less than 10 percent is currently being utilised. “Strategic investment in irrigation alone could triple yields, free us from seasonal dependency, and fortify our resilience against climate shocks,” he added.

Shettima assured that Nigeria’s policies are being re-engineered to attract investment through regulatory reforms, public-private partnerships, and agri-tech innovations. He also reiterated the administration’s commitment to its national development blueprint, which targets lifting 35 million Nigerians out of poverty and creating 21 million full-time rural jobs by 2025.

The Minister of Agriculture and Food Security, Senator Abubakar Kyari, in his presentation, described Nigeria as a prime investment destination, citing its large domestic market, vast arable land, and growing digital economy.

Similarly, the Minister of Budget and Economic Planning, Senator Atiku Bagudu, emphasised agriculture’s role in Nigeria’s economic diversification. Meanwhile, The Gambia’s Minister of Agriculture, Dr Demba Sabally, commended Nigeria’s progress in rice and cassava production, describing it as a model for the region.