Business Culture Economy

Nigeria’s Agriculture Sector Showcases Investment Opportunities at Rome Forum

 

 

Nigeria’s vast agricultural potential took center stage at the Investment Forum held in Rome, Italy, where a comprehensive presentation outlined the country’s opportunities for foreign and local investment. With a population of 211 million and a GDP of approximately $430 billion, Nigeria remains a key player in Africa’s agricultural sector, contributing 25.58% to the nation’s GDP in 2022. The presentation focused on several key areas, emphasizing both the potential and the challenges facing the sector.

Investment Potential in Key Crops and Sectors

1. Tomato: A total of $869.4 million has been earmarked to enhance tomato productivity and minimize post-harvest losses. This investment will focus on irrigation, the development of processing facilities, and the multiplication of high-quality seeds. Key states targeted for this project include Kano, Bauchi, and Borno, where tomato farming holds significant economic promise.

2. Cassava: Nigeria is already a global leader in cassava production, and a $382.2 million investment will focus on improving yield and reducing losses. The plan includes the establishment of processing units, research support, and the introduction of value chain financing. Ogun, Oyo, and Anambra states will be the primary beneficiaries of this initiative.

3. Maize: With a $1 billion investment, Nigeria aims to substantially increase maize production and processing capacity. This initiative will benefit Katsina, Kaduna, and Oyo states, where maize is a staple crop with high demand in local and international markets.

4. Dairy: The country’s reliance on dairy imports will be addressed through a $476.8 million investment. This program aims to improve dairy productivity, enhance processing capabilities, and promote pasture management. Bauchi, Kwara, and Oyo states are the primary focus areas for this investment.

5. Fisheries and Aquaculture: With a production gap in fish farming, $399.8 million will be dedicated to improving the sector. The initiative is set to target states like Ebonyi, Anambra, Ogun, Kwara, and Oyo, with a goal of bolstering local fish production and closing the supply gap.

 

Supporting Policies and Incentives

In addition to the direct investments in specific crops and sectors, the presentation also highlighted Nigeria’s commitment to creating an enabling environment for investors. Policies aimed at encouraging investment include tax breaks, incentives for foreign investors to repatriate profits, and local content incentives. These measures are designed to attract more foreign direct investment (FDI) and promote sustainable growth in the agricultural sector.

Hand-in-Hand Initiative

The “Hand-in-Hand Initiative,” a cornerstone of Nigeria’s agricultural development strategy, was also discussed. This program aims to enhance livelihoods, build resilience among smallholder farmers, and develop robust value chains for key crops, including tomatoes, cassava, rice, maize, dairy, and fisheries. The initiative is designed to foster sustainable agricultural practices while promoting economic growth.

A Vision for Sustainable Development

The overall investment plan anticipates $314 billion in development financing. This infusion of capital is expected to generate significant economic and social returns, including job creation, income growth, and reduced carbon emissions. The presentation underscored the importance of collaboration between the public and private sectors to achieve these ambitious goals.

As Nigeria continues to position itself as a global leader in agriculture, the outlined investments are set to strengthen the country’s food security, stimulate economic growth, and create lasting benefits for millions of Nigerians.

 

Leave a Comment

Your email address will not be published.

You may also like

Business Culture Economy Society Travels Trends

Lagos Governor Speaks on Expansion of Red Line Rail Service, Receives Mixed Public Reactions

post-image

 

By ANTHONY EMEKA NWOSU

The Governor of Lagos State, Babajide Sanwo-Olu, has unveiled a significant enhancement to the Lagos Rail Mass Transit (LRMT) Red Line as part of the state’s ongoing efforts to revolutionize urban mobility. Effective from tomorrow, the Red Line will expand its service schedule, now offering five morning trips and four evening trips daily, an increase from the previous two morning trips. This step is aimed at improving the daily commute for residents traveling along the high-demand route from Agbado to Oyingbo.

This upgrade promises to ease the stress of navigating the city’s notorious traffic jams by reducing overall travel times. With a journey time of just 50 minutes between Agbado and Oyingbo, commuters will benefit from the convenience of waiting times as brief as two minutes at each station. The increased frequency of train services is expected to significantly enhance the efficiency and reliability of the Red…

Read More
Business Culture Economy Tourism Travels Trends

Radisson Hotel Group concludes record-breaking year with over 300 new signings and openings in 2024

post-image

Radisson Hotel Group (www.RadissonHotels.com) reported a record-breaking year in 2024 after adding almost 40,000 keys to its global brand portfolio, thereby achieving significant milestones and further strengthening its footprint around the world. Radisson Blu remained the leading upper upscale brand in Europe for the 13th consecutive year and the Group is now leading the upscale resort segment in EMEA.

VIDEO
Elie Younes, EVP & Global Chief Development Officer, walks you through Radisson Hotel Group’s 2024 Business Development highlights

 

Elie Younes, Executive Vice President and Global Chief Development Officer at Radisson Hotel Group, comments: “Despite global geopolitical…

Read More
Business Economy Gadgets News Security Society Software Technology Technology Trends

Zoracom Announces Strategic Collaboration with Exeon Analytics AG to Enhance Cybersecurity Resilience and Next-Gen NDR Solutions

post-image

 

Zoracom, Nigeria’s foremost Network Security Operations Center (NSOC) and leading cybersecurity firm, has unveiled a groundbreaking initiative aimed at advancing Next-Generation Network Detection & Response (NDR) capabilities and bolstering cybersecurity operational resilience. The company revealed plans for a strategic visit to its partner, Exeon Analytics AG, in Zürich, Switzerland, scheduled for 2025, as part of its commitment to innovation and excellence in the cybersecurity landscape.

In an official statement, Zoracom emphasized that this collaboration underscores its dedication to addressing the evolving challenges of cybersecurity in an increasingly digital world. The initiative is designed to not only enhance Zoracom’s service offerings but also to provide cutting-edge solutions to its growing customer base, which includes enterprises, government agencies, and organizations across various sectors.

Key Objectives of the Initiative

The strategic partnership with Exeon Analytics AG, a renowned Swiss-based leader in cybersecurity analytics, is expected to deliver significant benefits, including:

  1. Support for a Growing…
Read More
Business News

Why Every Business Needs a Website and Social Media Management – Menxtt Technology NG is the Digital Partner You Can Rely On

post-image

 

 

Imagine a customer hears about your business and wants to learn more. The first thing they do? Search for you online. If they find nothing—no website, no social media page—chances are they’ll move on to your competitor. In today’s fast-paced digital world, businesses that lack an online presence are practically invisible.

That’s why Menxtt Technology NG, a trusted IT solutions provider based in Ikeja, Lagos, is helping businesses of all sizes build strong digital footprints. From creating professional websites to managing social media pages and deploying smart business software, Menxtt ensures businesses don’t just exist online but thrive in the digital space.

According to Anthony Nwosu, a marketing consultant at Menxtt Technology NG, going digital is no longer an option—it’s a necessity.

“Think about it—when was the last time you tried a new restaurant, salon, or service without first checking them out online? Today’s customers do their research before making a decision….

Read More
Agriculture Business

John Dumelo: “Agriculture Has Given Me More Than I Ever Dreamed Of”

post-image

Acclaimed Ghanaian actor and entrepreneur John Dumelo has shed light on his decision to step away from acting, citing agriculture as a more rewarding and impactful pursuit. Dumelo, who once graced the screens in some of Ghana’s most popular films, revealed that he left the entertainment industry to focus on farming, a venture that has transformed his life in ways he never imagined.

In a candid statement, Dumelo expressed that the film industry was financially unsustainable for him, prompting him to seek a more stable and fulfilling career path. His passion for agriculture, coupled with a strong desire to fight hunger in his community, led him to invest in large-scale farming.

“The film industry was not enough to sustain me. Besides, I had a deep passion for agriculture and a desire to eliminate hunger in my community and beyond through my products. This passion led me to venture into poultry farming,…

Read More
Business

NIMC Partners with Vice President’s Office to Advance Gender Inclusion at #SheIsIncluded Conference

post-image

 The National Identity Management Commission (NIMC) has reaffirmed its commitment to gender equality by actively participating in the Gender Inclusion Conference (#SheIsIncluded), organized by the Office of the Vice President of the Federal Republic of Nigeria.

The conference serves as a significant platform for addressing key challenges faced by women in Nigeria, including education, healthcare, economic empowerment, and leadership opportunities. With gender inclusion being a crucial factor in national development, the event aims to foster dialogue and policy recommendations that will create a more equitable society for women.

Speaking at the event, representatives of NIMC emphasized the critical role of identity management in bridging gender gaps. They highlighted the need for inclusive policies that ensure…

Read More
Business Entertainment Environment News

The World’s Fastest-Rising Startups Emerge on the AI Industry’s Grandest Stage

post-image

 

 

While Ai Everything Global welcomed capacity crowds for a second consecutive day, Wednesday was momentous for several reasons – including the emergence of the world’s fastest-rising startups. As the most reputable and iconic AI and big tech enterprises attracted substantial visitor numbers at the largest public-private global AI gathering of the year. As, so too did pure AI startups.

 

With over 250 early-stage international AI companies participating – 70% of which are certified award-winning – the Ai Everything Global Exhibition Showcase was the perfect platform for these top-rated startups to shine.

Booster Robotics of China received enormous praise and plaudits on its first-ever appearance in the UAE. The advanced humanoids creator has experienced a meteoric rise since its establishment in 2023, inventing the Booster T1, which has since gained international attention with its crowning as the ‘fastest free-walk robot’ at the 2024 IEEE-RAS Humanoids Championship.

Chaoyi Li, Head of Globalisation at Booster…

Read More
Announcements Business Culture Economy Education News

Girls in STEM Program Celebrates Record Success as 100% of Matric Cohort Passes Exams, Secures Scholarships

post-image

 

Subheadline: Melisizwe Computer Lab Project and e4’s Initiative Empowers Young Women to Break Barriers in Science, Technology, Engineering, and Mathematics

The Girls in STEM Awards Ceremony, held on 31 January 2025, celebrated the remarkable achievements of young women who have overcome challenges to pursue careers in science, technology, engineering, and mathematics (STEM). This year, the program achieved a 100% pass rate among its matric cohort, with many students earning scholarships and university placements in highly competitive STEM fields.

Launched in 2021 by the Melisizwe Computer Lab Project in partnership with e4, the Girls in STEM program aims to equip young women with the knowledge, mentorship, and confidence needed to excel in technology-driven industries. Over the past four years, the initiative has opened doors for participants, transforming academic potential into tangible success.

This year’s top achievers include:

  • Talitha Moosa, who scored 95% in Physical Sciences and 96% in Mathematics, and will study Actuarial…
Read More