Nigeria is taking a bold step towards transforming its agricultural sector. The Federal Government, in partnership with the Food and Agriculture Organization (FAO), has launched a $3.14 billion investment portfolio under the Hand in Hand Initiative. The plan is designed to accelerate growth across five key value chains: tomato, cassava, maize, dairy, and fisheries.
The official announcement came during the National Hand in Hand Investment Forum held in Abuja on Tuesday, September 17, 2025. Senator Abubakar Kyari, Minister of Agriculture and Food Security, unveiled the plan, describing it as a turning point for food security and poverty reduction in the country.
A vision for food sovereignty
Kyari explained that the Hand in Hand Initiative is rooted in the global drive to eradicate poverty, end hunger, and achieve food sovereignty. It also aligns with the United Nations Sustainable Development Goals (SDGs) and the African Union’s Comprehensive Africa Agriculture Development Programme (CAADP).
According to the minister, the agricultural portfolio has the potential to lift millions of Nigerians out of poverty, create jobs across rural communities, and strengthen food security. He emphasized that this initiative comes at a time when climate shocks, malnutrition, and rising food insecurity demand urgent solutions.
Breaking down the investment
The $3.14 billion plan is backed by both government and private sector commitments. Of the total, $1.75 billion will come from government funding, while $1.39 billion is expected from private investors.
Kyari added that the portfolio projects an internal rate of return of 14 percent on average. Beyond financial returns, the initiative is expected to raise per capita incomes by as much as $657 and sequester more than 1.2 million tonnes of carbon. This makes the program not only a boost for the economy but also a contributor to global climate action.
“These cases have been carefully selected through evidence based analysis, considering market demand, production potential, climate resilience, and socio economic impact,” Kyari said. “Together, they present a strong financial and developmental proposition. More than 4.1 million Nigerians stand to benefit directly and indirectly.”
From declarations to action
Kyari emphasized that the government’s focus is on presenting bankable opportunities in agriculture and irrigation. He highlighted Nigeria’s leadership potential in agriculture and the strength of its private sector.
“Nigeria is honoured to host this forum at a critical moment,” he said. “Through irrigation, innovation, and targeted investment, we can turn challenges into opportunities for sustainable growth, food sovereignty, and regional integration.”
Complementary reforms
This announcement follows earlier commitments by Vice President Kashim Shettima, who revealed fresh incentives to boost agricultural investment. Shettima stated that the government aims to lift 35 million Nigerians out of poverty and create 21 million full time jobs in agrarian communities.
The reforms will include single window platforms for land registration, improved agricultural credit systems, expanded irrigation infrastructure, and scaled mechanisation. These measures are designed to unlock Nigeria’s vast food production potential while attracting private sector investment.
Shettima also noted that the administration is re engineering agricultural policies to ensure they are investor friendly. This includes regulatory reforms, public private partnerships, and agri tech innovations that will drive long term growth.
Why this matters
Agriculture remains central to Nigeria’s economic resilience. With food security now a pressing national priority, this $3.14 billion plan provides a concrete pathway to sustainable development. By merging government action, private sector commitment, and international support, the initiative signals a new era of opportunity for millions of Nigerians.
