{"id":122316,"date":"2025-09-17T19:55:45","date_gmt":"2025-09-17T18:55:45","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=122316"},"modified":"2025-09-17T19:55:45","modified_gmt":"2025-09-17T18:55:45","slug":"nigeria-attracts-3-14bn-agribusiness-investment-to-tackle-hunger","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/nigeria-attracts-3-14bn-agribusiness-investment-to-tackle-hunger\/","title":{"rendered":"Nigeria Attracts $3.14bn Agribusiness Investment to Tackle Hunger"},"content":{"rendered":"<div style=\"text-align: justify;\">By \u200eDaniel Adaji<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eNigeria has secured a $3.14 billion agribusiness investment portfolio aimed at eradicating poverty, ending hunger, and boosting food sovereignty.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eThe initiative, launched in collaboration with the Food and Agriculture Organisation (FAO) under its Hand-in-Hand Initiative, will focus on five critical value chains: tomato, cassava, maize, dairy, and fisheries.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eThe Minister of Agriculture and Food Security, Senator Abubakar Kyari, announced the plan at the National and Sub-Regional Hand-in-Hand Investment Forum on Agriculture for West Africa and the Sahel, held in Abuja.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eIn a statement on Wednesday, he said the investment pipeline combines $1.75 billion in government funding with $1.39 billion in private sector commitments, and is projected to deliver an average internal rate of return of 14 percent.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eAccording to him, the portfolio is designed to lift millions of Nigerians out of poverty, create jobs, and improve food and nutrition security. \u201cPer capita incomes will rise by as much as $657 and we will contribute to global climate goals by sequestering over 1.2 million tonnes of carbon,\u201d Kyari stated.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eHe highlighted Nigeria\u2019s vast agricultural potential, saying, \u201cWith 70 million hectares of agricultural land, of which only 20 percent is cultivated, and irrigation potential of over three million hectares, Nigeria represents one of the most compelling agricultural investment destinations in Africa.\u201d<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eThe Minister added that the government is investing in Special Agro-Industrial Processing Zones, expanding cold chain logistics, recapitalizing the Bank of Agriculture, and promoting local manufacturing of inputs and equipment.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200e\u201cTogether, these incentives create one of the most comprehensive enabling environments for agribusiness investment in Africa,\u201d he stated.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eFAO Country Representative in Nigeria and ECOWAS, Dr. Hussein Gadain, commended Nigeria\u2019s commitment to the Hand-in-Hand Initiative, describing it as a key vehicle for achieving the Sustainable Development Goals (SDGs) and Africa\u2019s vision as outlined in the Kampala Declaration.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eHe praised Vice President Kashim Shettima\u2019s role in mobilizing investment and innovation, and the Agriculture Ministry\u2019s work in developing bankable investment cases.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200e\u201cWe have seen significant strides in matching private sector players, bilateral and multilateral partners with Nigeria\u2019s clear agricultural development priorities. These are not just commitments on paper; they are tangible investments beginning to drive transformative growth,\u201d Gadain said.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eHe described Nigeria\u2019s participation in the sub-regional Hand-in-Hand initiative on water and irrigation as \u201ca game-changer,\u201d unlocking agricultural and fisheries potential while strengthening climate resilience.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eAlso speaking, the Head of the European Union Delegation in Nigeria, Mr. Gautier Mignot, said the initiative underscores Nigeria\u2019s strong commitment to food security and agribusiness investment.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eHe disclosed that the EU had already invested over 80 million euros in value chain development across seven states, pledging further collaboration to expand irrigation as a driver of agricultural transformation.<\/div>\n<div style=\"text-align: justify;\">\u200e<\/div>\n<div style=\"text-align: justify;\">\u200eThe forum was attended by the Minister of Budget and National Planning, the Deputy Governor of Ebonyi State, development partners, FAO representatives, members of the diplomatic community, and other stakeholders.<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By \u200eDaniel Adaji \u200e \u200eNigeria has secured a $3.14 billion agribusiness investment portfolio aimed at eradicating poverty, ending hunger, and boosting food sovereignty. \u200e \u200eThe initiative, launched in collaboration with&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":122143,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-122316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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