By Ikugbadi Oluwasegun
The Federal Government of Nigeria has unveiled an ambitious $3.14 billion agricultural investment plan in partnership with the Food and Agriculture Organization (FAO) Hand-in-Hand Initiative.
The initiative, aimed at transforming five key value chains—tomato, cassava, maize, dairy, and fisheries—seeks to eradicate poverty, end hunger, and achieve food sovereignty while aligning with global Sustainable Development Goals (SDGs) and the African Union’s Comprehensive Africa Agriculture Development Programme (CAADP).
Abubakar Kyari,
Minister of Agriculture and Food Security highlighted the investment’s potential to lift millions out of poverty, create jobs, and enhance food security.
The portfolio, supported by $1.75 billion in government funding and $1.39 billion from private sector commitments, boasts a 14% average internal rate of return. It is also expected to increase per capita incomes by up to $657 and sequester over 1.2 million tonnes of carbon, contributing to global climate goals.
