Boosting Food Production in Nigeria: New Incentives Unveiled

The Federal Government has announced fresh incentives to attract agricultural investment, aiming to boost food production, create millions of rural jobs, and expand irrigation under President Bola Tinubu’s economic agenda. Vice President Kashim Shettima outlined these plans at the Food and Agriculture Organisation’s National and Subregional Hand-in-Hand Investment Forum in Abuja.

-Single-Window Platforms for Land Registration: Streamlining land registration processes to facilitate agricultural investment
– Strengthened Agricultural Credit Systems: Improving access to credit for farmers and agribusinesses
Large-Scale Mechanization:Enhancing agricultural productivity through mechanized farming
-Strategic Irrigation Projects:Unlocking Nigeria’s irrigation potential to triple yields and reduce seasonal dependency

Nigeria has the capacity to irrigate over three million hectares of farmland, but currently utilizes less than 10% of this potential. Strategic investment in irrigation could .
– Triple Yields: Increase agricultural productivity and reduce reliance on rainfall
-Enhance Resilience: Fortify Nigeria’s resilience against climate shocks
– Improve Food Security: Boost food availability and accessibility

The 2021-2025 National Development Plan aims to :
– Lift 35 Million People Out of Poverty: Reduce poverty and improve living standards
– Generate employment opportunities in rural communities
– Secure Food and Nutrition Sufficiency: Ensure access to nutritious food for all Nigerians

With these initiatives, Nigeria is taking significant steps towards achieving food security and transforming its agricultural sector. The government’s commitment to regulatory reforms, public-private partnerships, and agri-tech innovations will make the country an attractive destination for investors .