The Federal Government (FG) has announced fresh incentives to boost agricultural investment in Nigeria, with projections to create 21 million jobs and strengthen food security under President Bola Tinubu’s economic agenda.
Vice President Kashim Shettima unveiled the plan on Tuesday at the Food and Agriculture Organisation’s (FAO) National and Subregional Hand-in-Hand Investment Forum in Abuja. He described hunger as “the great equaliser that reveals our vulnerabilities and the shared fragility of our existence.”
According to a 9am News report, Shettima said the government would expand irrigation, improve access to credit, and promote mechanisation to transform the sector. He noted that while Nigeria has the capacity to irrigate over three million hectares of farmland, less than 10 percent of that potential is currently in use.
“Strategic investment in irrigation alone could triple yields, free us from seasonal dependency, and fortify our resilience against climate shocks,” the Vice President stated.
Highlights of the New Agric Incentives
The Federal Government outlined several measures, including:
- Single-window platforms for land registration
- Strengthened agricultural credit systems
- Large-scale mechanisation
- Strategic irrigation projects
- Public-private partnerships and agri-tech innovations
Shettima assured investors that Nigeria was “open for business” and ready to partner with local and international stakeholders to make agriculture a true driver of prosperity.
Reactions from Stakeholders
The announcement has generated cautious optimism among stakeholders in the agricultural sector.
The National President of the All Farmers Association of Nigeria, Kabir Kebram, stressed the need for implementation:
“Definitely, it will boost if they are implemented. You can have a policy, but unless you implement it very well, you cannot see results.”
Similarly, the Chairman of the Competitive African Rice Forum, Peter Dama, warned against a cycle of unfulfilled promises:
“Pronouncements are different from implementation. While we welcome these pronouncements, we are still hoping they will be met with practicality.”
However, the Small-Scale Women Farmers Organisation of Nigeria (SWOFON) faulted the government’s past interventions. Its National Secretary, Chinasa Asonye, argued that policies have not translated into tangible benefits for smallholder women farmers, who form the backbone of Nigeria’s food production.
“Government interventions on single-digit loans, women-friendly machines, access to land and inclusion in policies have not yielded results. Less than two percent of the national budget goes to agriculture, far below the 10 percent recommended under the Malabo Declaration,” she said.
Despite skepticism, experts and international partners like the EU and FAO have lauded Nigeria’s renewed agricultural focus. They believe that if properly implemented, these measures could reduce food imports, create rural jobs, and strengthen the nation’s resilience against inflation and climate shocks.
Stay tuned to 9am News Nigeria for more Breaking News, Business News, Sports updates And Entertainment Gists.
