The Federal Government of Nigeria has unveiled a ₦1.7 trillion agricultural investment initiative aimed at transforming the country’s food systems and improving farmer access to finance, mechanisation and sustainable inputs.
The initiative includes the recapitalisation of the Bank of Agriculture with ₦1.5 trillion to enhance financial access for farmers across the country and an additional ₦200 billion in direct interventions to support national agricultural programmes.
The announcement was made by the Minister of Agriculture and Food Security, Abubakar Kyari, during a bilateral engagement with a visiting Gambian delegation at the Ministry’s headquarters in Abuja on Friday.
According to Kyari, the recapitalised Bank of Agriculture will serve as a cornerstone for delivering low-interest credit and specialised financial services to millions of farming households, while the ₦200 billion allocation will fund multiple government-backed programmes, including fertiliser distribution, mechanisation support and youth-targeted agricultural empowerment.
The government has already distributed 2.15 million bags of fertiliser as part of its intervention strategy, Kyari confirmed.
He noted that the efforts reflect a coordinated push to meet the objectives set under the national food security emergency declared by President Bola Ahmed Tinubu in July 2023.
In line with the broader strategy, the Ministry is also establishing a National Farmers’ Registry aimed at capturing data on 42 million farming households nationwide to ensure that interventions are efficiently targeted and measurable.
Nigeria’s agricultural policy now focuses on four strategic pillars: sustainable mechanisation, youth engagement, food sovereignty and research-driven policymaking.
During the visit, Demba Sabally, The Gambia’s Minister of Agriculture, praised Nigeria’s approach to agricultural transformation, particularly its integrated rice production and post-harvest systems. Sabally called for deeper collaboration, specifically requesting that Nigeria provide a Rice Ambassador to support Gambia’s rice self-sufficiency targets.
“We have seen the Nigerian model in action — from outgrower schemes to mechanisation and post-harvest management,” Sabally said. “We believe this partnership will accelerate our national rice agenda by 2030.”
The visit also featured a tour of Nigeria’s national mechanisation equipment at the National Agricultural Seed Council in Sheda, Abuja, where the Gambian officials held technical discussions with Nigerian counterparts.
Nyangado Alhagie, Permanent Secretary at Gambia’s Ministry of Agriculture, described the engagement as “transformational” and highlighted the potential for replicating Nigeria’s model in other African countries.
Minister Kyari reaffirmed Nigeria’s readiness to support regional agricultural transformation across the Economic Community of West African States (ECOWAS), noting that joint technical missions and formal partnerships will be developed to deepen intra-African cooperation.
Minister of State for Agriculture and Food Security, Aliyu Abdullahi, also welcomed the delegation and noted that Nigeria’s expanding rice production capacity could serve as a benchmark for other African economies seeking to strengthen food security and reduce import dependence.
The ₦1.7 trillion investment is expected to drive agricultural productivity, enhance food supply chains, and boost employment across the sector, positioning Nigeria as a regional leader in sustainable agribusiness.
