Nigeria is rolling out an ambitious agricultural investment plan worth over $2.2 billion to transform its food sector, reduce post-harvest losses, and deliver massive financial returns for investors. Minister of Agriculture and Food Security, Senator Abubakar Kyari, disclosed this at the Hand-in-Hand (HiH) Investment Forum held at Abuja Continental Hotel.
Kyari explained that the strategy focuses on tomatoes, cassava, and maize, three staple crops that hold the key to food security, industrial growth, and regional trade. According to him, the initiative is not only about farming but about securing Nigeria’s economic future. “This is an investment in food security, jobs, and sustainable development across Africa,” he said.
The tomato programme, estimated at $869 million, will cover 72,000 hectares in Kano, Bauchi, and Borno States. It aims to slash post-harvest losses by half, increase yields to 30 tonnes per hectare, and directly support 36,000 farmers. With an internal rate of return projected at 12.5 percent and a net present value of $171 million, the initiative is set to revive Nigeria’s struggling tomato industry.
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For cassava, Nigeria seeks $382 million to expand cultivation across 207,000 hectares in Ogun, Oyo, and Anambra States. The plan will directly support 45,000 farmers, establish 375 processing units, and reduce dependence on imported starch and high-quality flour. With an expected IRR of 15.2 percent and NPV of $187.7 million, Kyari said the cassava programme would generate jobs for over 300,000 people across the value chain.
The largest share of investment will go to maize, with $1 billion earmarked to cover 1 million hectares in Katsina, Kaduna, and Oyo States. Designed to close Nigeria’s 5 million metric tonne maize production gap, the initiative is expected to benefit more than 420,000 farmers directly and nearly 3 million people indirectly. The programme’s IRR is projected at 18.7 percent with an NPV of $75.6 million, making it one of the most profitable agricultural ventures in West Africa.
Kyari stressed that the initiatives will also create jobs through seed multiplication centers, solar-powered processing plants, and mobile units for rural areas. For maize, new input hubs and animal feed processing factories will strengthen Nigeria’s livestock and poultry sectors, while cassava projects will expand farmer cooperatives and improve access to finance.
“These investments are profitable, scalable, and regionally significant,” Kyari emphasized. “Investing in these value chains means investing in Nigeria’s food security, industrial growth, and our position as a hub for regional trade under ECOWAS and AfCFTA.”
