Federal Govt, NDDC To Launch $500m Niger Delta Agric Investment Fund

The federal government and the Niger Delta Development Commission (NDDC) will launch next Wednesday a $500 million Niger Delta Agricultural Development and Investment Fund to finance large-scale farming projects across the oil-producing region as part of efforts to diversify the economy, strengthen food security, and attract private investment.

The fund, a commercially managed investment vehicle covering the nine Niger Delta states, will be unveiled during the maiden Niger Delta Agricultural Development and Investment Summit scheduled to hold at the Banquet Hall of the Presidential Villa, Abuja. Vice President Kashim Shettima will chair its Board of Trustees.

The summit, jointly organised by the Office of the Vice President and the NDDC, has the endorsement of President Bola Tinubu and is expected to bring together about 500 participants, including agricultural investors, development finance institutions, policymakers, regional stakeholders and international partners.

Speaking at a joint press briefing at the State House on Thursday, Deputy Chief of Staff to the President, Senator Ibrahim Hadejia, said the initiative was designed to unlock the vast agricultural potential of the Niger Delta, a region he described as rich in both food and cash crop production despite being better known for oil and gas.

According to him, the summit marks a deliberate shift from discussing opportunities to mobilising investment that can transform the region’s agricultural landscape.

“The Niger Delta Agricultural Development and Investment Summit 2026 represents a strategic shift from potential to performance, from conversation to capital, and from fragmentation to coordination,” Hadejia said.

He added that the initiative aligns with the Tinubu administration’s vision of building “a resilient, diversified and inclusive Nigerian economy, with agriculture as a central driver.”

“We are confident that this initiative will unlock new pathways for investment, create jobs, enhance food security, and position the Niger Delta as a key pillar in Nigeria’s agricultural future,” he said.

Hadejia disclosed that the initiative had attracted international attention, with development finance institutions, foreign missions, Afreximbank and the Brazilian government indicating interest in participating.

He also dismissed suggestions that the new investment vehicle could duplicate the responsibilities of the Presidential Food Systems Coordinating Council, explaining that the two structures perform different functions.

“The Presidential Food Systems Coordination Council was established to coordinate food systems across the country. What we are launching here is a $500 million investment fund dedicated to transforming agriculture in the Niger Delta from subsistence farming to large-scale commercial agriculture,” he said.

“There is absolutely no duplication, no mandate overlap.”

The presidential aide further challenged young Nigerians to view agriculture as a viable business, citing countries such as India and Brazil, where the sector contributes significantly to economic growth.

“If it is done right, then just as agriculture was once relegated, maybe oil will now be relegated as agricultural output rises. That is the stuff of visionary leaders,” he added.

Providing more insight into the initiative, NDDC managing director, Dr Samuel Ogbuku, said the summit was conceived after a strategic retreat held in Port Harcourt in October 2025 involving commissioners for agriculture and food security from the commission’s nine mandate states.

He said discussions at the retreat focused on reducing the region’s dependence on crude oil by developing agriculture into a major economic driver.

According to Ogbuku, the summit will also inaugurate the Niger Delta Agricultural Development and Investment Council, which will coordinate the investment fund alongside financing from development finance institutions, commercial banks, private equity and debt funds.

“A key highlight of the summit is the launch of a $500 million Niger Delta Agricultural Development and Investment Fund, a commercially managed investment vehicle designed to finance opportunities across priority value chains, including palm oil, cassava, cocoa, rice, horticulture, marine resources and livestock,” he said.

Ogbuku explained that the initiative was in line with President Tinubu’s directive to unlock the Niger Delta’s economic potential through increased non-oil investments.

“The summit is convened pursuant to the directive of His Excellency, President Bola Tinubu, who has called for bold and innovative actions to unlock the economic potential of the Niger Delta through increased non-oil investment, recognising agriculture as a key driver of inclusive growth, food security and economic diversification,” he stated.

He noted that Nigeria’s economy was originally driven by agriculture before the discovery of crude oil, arguing that increased investment in the sector could reverse decades of economic imbalance.

“But today, we believe that with agricultural investment, people should go back to their communities. We want to see giant industrial agricultural investments in the region, just the way we have the IOCs,” Ogbuku said.

On why the summit is being held in Abuja instead of the Niger Delta, he said the decision was informed by the need to engage investors and development partners where they are largely based.

“If you are looking for capital, you must go close to where the capital is. All the donor agencies, all those we are expecting to participate, are here, so you must come to their domain,” he said.

Ogbuku acknowledged that some previous agricultural investments by the commission had fallen short of expectations due to inadequate planning, citing a rice mill in Rivers State that struggled because of insufficient feedstock.

He also disclosed that the NDDC recently provided ₦5 billion to the Niger Delta Chamber of Commerce to support small agribusinesses, while continuing to co-fund the IFAD-backed LIFE-ND programme and partner with private investors on agro-processing projects.

Making a final appeal to investors, the NDDC boss described the Niger Delta as one of the safest regions in the country for business.

“Capital is selfish. Capital only goes to where it makes money, and we want to showcase that the Niger Delta is safe and secured for investment,” he said.