Federal Government Unveils $3.14bn Agric Investment Scheme With FAO

The federal government has unveiled a $3.14 billion agricultural investment portfolio under the Food and Agriculture Organisation’s (FAO) Hand-in-Hand Initiative, targeting five high-impact value chains of tomato, cassava, maize, dairy and fisheries.

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

He said the initiative was designed to eradicate poverty, end hunger, and build resilience in rural communities, while aligning with global frameworks such as the Sustainable Development Goals and the AU’s CAADP Action Plan.

The minister further stated that the portfolio was backed by a combined commitment of $1.75 billion in public investment and $1.39 billion from private investors, stressing that the mix reflects both government ownership and private sector confidence.

He added that the portfolio would also deliver climate gains, noting that “Per 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”.

“Nigeria presents a robust and compelling 3.14 billion US dollar investment portfolio under the FAO’s Hand-in-Hand Initiative, this portfolio is strategically focused on five high-impact value chains: tomato, cassava, maize, dairy and fisheries.

“These cases have been carefully selected through evidence-based analysis, taking into account market demand, production potential, climate resilience, and socio-economic impact.

“Together, they offer a strong financial and developmental proposition, with an average internal rate of return above 14 percent. More than 4.1 million Nigerians stand to benefit directly and indirectly,” Kyari said.

He stressed that the task was to present a concrete, bankable opportunities in agriculture and irrigation that were ready for investment. “These opportunities reflect Nigeria’s leadership in agriculture, the strength of our private sector, and our determination to transform declarations into action.”

“Nigeria is honoured to host this forum at a critical moment, climate shocks, food insecurity, and malnutrition remain pressing challenges. But through irrigation, innovation, and targeted investment, we can turn these challenges into opportunities for sustainable growth, food sovereignty, and regional integration”, Kyari said.

He pointed to Nigeria’s youthful population, growing digital economy, diverse agro-ecological zones and expanding regional markets as key assets that investors can leverage.

“Demand is expanding domestically and across the region. Youth and digital innovation are reshaping the sector, public-private partnerships are scaling infrastructure and processing and policy reforms are reducing barriers to long-term investment,” he added.

In his remarks, FAO representative in Nigeria and ECOWAS, Hussein Gadain praised the government’s commitment and described the forum as a platform for action.

Gadain said the Hand-in-Hand Initiative has already identified high-impact investment opportunities and matched them with private sector and development partners.

He called irrigation a “game-changer” for Nigeria’s food systems and commended Vice President Kashim Shettima for his “genuine commitment and visionary leadership.”

“Today, we gather not just to discuss, but to catalyze action; not just to plan, but to partner; and not just to invest, but to transform.

“Let us work hand-in-hand to drive the investments that will ensure increased food security, improved nutrition, better jobs and sustainable economic growth for the people of Nigeria,” Gadain urged.