FG Unveils $3.14bn Agricultural Investment to Boost Common Food Production

News in brief:

-Nigeria's FG has launched a $3.14 billion agricultural investment under the FAO’s Hand-in-Hand Initiative to boost staple food production, reduce post-harvest losses, and improve food security.

-The programme targets tomato, cassava, and maize value chains, aiming to benefit over 4.1 million Nigerians while attracting both public and private sector investments.

The Federal Government has announced a $3.14 billion agricultural investment package targeting major staple foods widely consumed in Nigeria. The programme falls under the Food and Agriculture Organisation’s (FAO) Hand-in-Hand Initiative, a global effort to transform agriculture and end hunger.

Minister of Agriculture and Food Security, Abubakar Kyari, unveiled the investment portfolio on Wednesday in Abuja during the Hand-in-Hand Investment Forum, which Vice President Kashim Shettima opened.

According to the minister, the programmes are designed to increase food productivity, reduce post-harvest losses, and strengthen food security while also delivering strong financial returns to investors.

Who It Concerns

The $3.14 billion portfolio will combine $1.75 billion in public investment with $1.39 billion in private investment. It will directly benefit over 4.1 million Nigerians, create jobs, and raise incomes by an estimated $657 per person.

The targeted food value chains include tomato, cassava, maize, dairy, and fisheries, all of which are central to Nigeria’s food consumption and agro-processing industries.

Kyari said: “With vast farmland, irrigation potential, a market of over 230 million people, and clear incentives, Nigeria is ready for bankable agribusiness investments that will secure food, jobs, and growth.”

What You Should Know

The FAO Hand-in-Hand Initiative uses data to identify areas of high poverty and hunger, linking governments with donors, private investors, and financial institutions to mobilise resources for sustainable agricultural transformation.

Breakdown of the investment portfolio includes:

• Tomato: $869 million for 72,000 hectares in Kano, Bauchi, and Borno; targeting yield increases of 30 tonnes per hectare and supporting 36,000 farmers.
• Cassava: $382 million for 207,000 hectares in Ogun, Oyo, and Anambra; setting up 375 processing units and reducing starch and flour imports.
• Maize: $1 billion for one million hectares in Katsina, Kaduna, and Oyo, aiming to close the nation’s five million metric tonne deficit and benefit over three million Nigerians directly and indirectly.

Officials stressed that the initiative will stimulate food security, industrial growth, regional exports, and sustainable livelihoods, while positioning Nigeria as a key player in Africa’s agro-food market.