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The Federal Government has identified agriculture as a strategic pillar of Nigeria’s next phase of economic growth, with plans to strengthen farm productivity, expand value addition and create employment opportunities across the agricultural value chain.
The position was outlined by Vice President Kashim Shettima, who represented President Bola Ahmed Tinubu at the opening of the 32nd Nigerian Economic Summit (NESG 32) in Abuja, where government officials, business leaders and policy experts examined strategies for delivering jobs, productivity and shared prosperity.
Speaking under the theme, “Growth That Works: Delivering Jobs, Productivity and Shared Prosperity,” Shettima said the administration’s economic reforms were intended to improve livelihoods and create conditions for businesses, farmers, manufacturers and entrepreneurs to expand their operations.
For the agricultural sector, the government’s priorities include connecting farms to storage facilities, processing centres and markets, while expanding irrigation, mechanisation, access to finance and rural infrastructure.
These interventions are expected to address some of the structural challenges affecting agricultural production, market access and the ability of farmers to benefit from growing demand for food and agricultural commodities.
President Tinubu said Nigeria’s economic transformation would require greater productivity across all sectors, including agriculture, alongside investments that generate employment and strengthen domestic production.
According to the President, the government is working to improve the connections between agricultural production and the infrastructure needed to preserve, process and distribute farm produce.
Improved storage facilities could help reduce post-harvest losses, while stronger links with processing centres and markets could create additional opportunities for farmers to earn income from their produce.
Expanding irrigation and mechanisation could also help farmers increase production capacity, reduce dependence on rainfall and improve the prospects for year-round farming.
However, the effectiveness of these measures will depend on implementation, affordability and accessibility, particularly for smallholder farmers who account for a significant share of agricultural activity in Nigeria.
Access to affordable agricultural finance will also remain important for farmers seeking to acquire equipment, purchase quality inputs, expand cultivated areas and invest in improved production methods.
The administration’s renewed emphasis on agriculture comes as Nigeria seeks to diversify its economy beyond oil and strengthen the contribution of productive sectors to national output.
President Tinubu disclosed that non-oil activities accounted for 96.08 per cent of Nigeria’s real gross domestic product in the first quarter of 2026, while the economy recorded inflation-adjusted growth of 3.89 per cent, compared with 3.13 per cent in the corresponding period of 2025.
Manufacturing grew by 3.29 per cent during the period, while the oil sector recorded growth of 2.57 per cent, according to figures cited by the President from the National Bureau of Statistics.
Although these figures cover the wider economy rather than agriculture alone, they highlight the administration’s focus on strengthening non-oil production and diversifying the sources of economic growth.
For agriculture, this direction presents an opportunity to deepen the links between farming, food processing, manufacturing, transportation and domestic and international trade.
Stronger agricultural value chains could create employment beyond primary production, including in agro-processing, logistics, equipment maintenance, packaging, storage and commodity marketing.
The President stressed that Nigeria must move beyond the extraction of raw materials towards domestic processing, industrial production and exports.
For the agricultural sector, this ambition points to the importance of investing in agro-processing facilities capable of converting locally produced crops into higher-value food and industrial products.
Processing crops closer to production centres could improve market opportunities for farmers, strengthen links with manufacturers and support the development of rural enterprises.
Reliable rural roads, electricity, storage infrastructure and transport networks will also be essential to moving produce from farms to processing facilities and urban markets.
Without these supporting investments, farmers may continue to face high transportation costs, produce spoilage and limited access to profitable markets.
The government’s proposed focus on infrastructure and private-sector investment could therefore have significant implications for agricultural competitiveness if the measures translate into practical improvements at the farm and community levels.
President Tinubu said the country must go beyond increasing the number of jobs available to improve the quality of employment, reduce underemployment and increase productivity.
Agriculture offers opportunities to pursue these objectives through commercial farming, agro-processing, agricultural technology, commodity trading and rural services.
Young Nigerians could benefit from expanded opportunities in agricultural mechanisation services, digital marketplaces, irrigation management, food logistics and other businesses supporting farmers.
The President also reported that Nigeria’s capital importation reached $10.37 billion in the first quarter of 2026, representing an 83.83 per cent increase over the corresponding period in 2025.
He said the government would continue efforts to ease regulatory burdens, strengthen transparency and policy predictability, and expand access to finance.
For agriculture, attracting investment into processing, storage, irrigation infrastructure and agricultural technology could help address longstanding financing and productivity constraints.
However, translating wider investment inflows into agricultural development will require deliberate efforts to direct capital towards viable projects, improve access to funding for smaller businesses and strengthen the investment environment across rural areas.
United Nations Deputy Secretary-General Dr. Amina Mohammed acknowledged the gains from Nigeria’s economic reforms but called for their consolidation and stabilisation, alongside effective management of citizens’ expectations.
Her remarks underscored the importance of sustaining reforms while ensuring that their benefits translate into tangible improvements in livelihoods and economic opportunities.
Minister of Finance and Coordinating Minister of the Economy Dr. Taiwo Oyedele also presented the proposed Nigerian Economic Policy Framework, describing it as a national framework for guiding economic decisions and measuring progress.
The framework’s proposed priorities include economic stability, human capital development and productivity, with principles centred on enterprise, open but fair markets, and coordination across government.
For agriculture, effective coordination between relevant ministries, financial institutions, state governments and private-sector operators will be important to delivering investments in irrigation, rural infrastructure, agricultural finance and market access.
NESG Chairman Olaniyi Yusuf said the summit should help move Nigeria from policy consensus to practical solutions that support job creation, improved productivity and shared prosperity.
BUA Group Chairman and Founder Abdul Samad Rabiu also commended the administration’s economic reforms, noting that improvements in access to foreign exchange had helped create a more predictable operating environment for businesses.
Such improvements could support agricultural processors and manufacturers that depend on imported machinery, equipment and certain production inputs, although affordability and access to finance remain important considerations.
While the Federal Government has outlined agriculture as a key driver of economic expansion, the impact on farmers will ultimately depend on how effectively announced priorities are implemented.
Expanding affordable irrigation, improving access to mechanisation, strengthening rural roads, developing storage and processing facilities, and increasing access to agricultural credit will be critical to translating policy ambitions into higher farm output and stronger rural incomes.
Smallholder farmers will also need practical access to these interventions, alongside reliable markets, improved production technologies and appropriate support to manage weather and price risks.
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