The federal government has announced a $3.14 billion investment initiative in agriculture under the Food and Agriculture Organisation’s (FAO) Hand-in-Hand (HiH) program, focusing on five key value chains: tomato, cassava, maize, dairy, and fisheries.
During the National Hand-in-Hand Investment Forum held in Abuja on Tuesday, the Minister of Agriculture and Food Security, Abubakar Kyari, revealed the details of this ambitious portfolio.
This initiative aims to eradicate poverty, eliminate hunger, and strengthen resilience within rural communities, aligning closely with international frameworks such as the Sustainable Development Goals (SDGs) and the African Union’s Comprehensive Africa Agriculture Development Programme (CAADP) Action Plan.
Minister Kyari highlighted that the investment package is supported by a combined $1.75 billion from public funds and $1.39 billion from private sector investors, demonstrating a balanced partnership between government leadership and private sector confidence.
He emphasized the portfolio’s environmental benefits, stating, “Per capita incomes are projected to increase by up to $657, while we contribute to global climate objectives by capturing over 1.2 million tonnes of carbon.”
“Nigeria is proud to present this compelling $3.14 billion investment portfolio under the FAO’s Hand-in-Hand Initiative, strategically targeting five high-impact agricultural value chains: tomato, cassava, maize, dairy, and fisheries,” Kyari explained.
“These sectors were selected through rigorous data-driven analysis, considering factors such as market demand, production capacity, climate adaptability, and socio-economic benefits.”
“Collectively, these investments offer a robust financial and developmental outlook, with an average internal rate of return exceeding 14 percent. Over 4.1 million Nigerians are expected to benefit both directly and indirectly,” he added.
The minister underscored the importance of presenting tangible, investment-ready opportunities in agriculture and irrigation, reflecting Nigeria’s leadership in the sector, the vitality of its private enterprises, and a commitment to turning policy into practical outcomes.
“Hosting this forum at such a pivotal time is an honor for Nigeria. Despite ongoing challenges like climate disruptions, food insecurity, and malnutrition, we believe that through irrigation, innovation, and focused investments, these obstacles can be transformed into pathways for sustainable development, food sovereignty, and enhanced regional cooperation,” Kyari stated.
He pointed out Nigeria’s advantages, including its youthful demographic, burgeoning digital economy, diverse agro-ecological zones, and growing regional markets, all of which present valuable opportunities for investors.
“Demand for agricultural products is rising both domestically and across neighboring countries. The sector is being reshaped by young entrepreneurs and digital technologies, while public-private partnerships are expanding infrastructure and processing capabilities. Additionally, policy reforms are easing barriers to long-term investments,” he noted.
In his address, Hussein Gadain, FAO’s representative for Nigeria and ECOWAS, lauded the government’s dedication and described the forum as a catalyst for concrete action.
Gadain highlighted that the Hand-in-Hand Initiative has already pinpointed high-impact investment prospects and successfully connected them with private investors and development partners.
He described irrigation as a transformative factor for Nigeria’s food systems and praised Vice President Kashim Shettima for his visionary leadership and sincere commitment.
“Today’s gathering is not merely about discussion but about sparking action; not just planning but forging partnerships; and not only investing but driving transformation,” Gadain urged.
“Let us collaborate hand-in-hand to mobilize investments that will enhance food security, improve nutrition, create better employment opportunities, and foster sustainable economic growth for all Nigerians,” he concluded.
