Sept. 17, 2025

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.

Minister of Agriculture and Food Security, Sen. Abubakar Kyari, who made the disclosure on Tuesday in Abuja during his presentation at the National Hand-in-Hand (HiH) Investment Forum,  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.

The initiative according to the Minister is 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).