The Federal Government has positioned agribusinesses as a cornerstone of Nigeria’s economic diversification strategy, signalling strong confidence in the sector’s ability to attract billions of dollars in private investment and create sustainable livelihoods across the country.
Speaking at the 2026 Presidential Agricultural Policy Dialogue organised by the Nigeria Agribusiness Group (NABG) in Abuja, the Minister of Budget and Economic Planning, Senator Abubakar Bagudu, mentioned that agribusinesses would play a central role in driving inclusive growth and long-term economic transformation.
Bagudu described agribusiness as a critical engine for national development, noting that its value chain, from primary production and agro-processing to logistics and exports, offers wide opportunities for youth employment, innovation and climate-smart farming.
According to him, the Federal Government is committed to working closely with investors, producers and agribusiness operators to unlock sustainable value across the sector.
He stated that this commitment is being demonstrated through policy support, strategic financing and partnerships meant to modernise agriculture, livestock development, fisheries and agro-processing.
Agriculture and agribusiness, Bagudu stressed, remain central to achieving Nigeria’s long-term growth objectives as outlined in the Agenda 2050 development framework.
He explained that Agenda 2050, which was jointly developed by the private sector, public institutions, state governments and civil society organisations, sets out an ambitious pathway for Nigeria’s economic future.
The framework targets a $1 trillion economy by 2050, a per capita GDP of $33,000 and annual investments of at least $100 billion.
Bagudu noted that about 86 per cent of the projected investments are expected to come from the private sector, with agribusiness positioned as a major contributor to investment inflows.
He also said that the sector is expected to attract billions of dollars annually if reforms are sustained and investor confidence is strengthened.
While acknowledging that Nigeria remains some distance from meeting the Agenda 2050 benchmarks, the minister stated that the gap underscores the urgency of reforms and deeper private sector engagement.
He assured stakeholders that the Federal Government remains focused on creating an enabling environment through policy reforms, improved financing structures and strategic partnerships to de-risk agribusiness investments.
Bagudu further said the administration of President Bola Ahmed Tinubu will align its policies with Agenda 2050, using the Renewed Hope Agenda as a practical tool to drive long-term development.
According to him, the Renewed Hope Agenda is grounded in realism, shared responsibility and collaboration between government and the private sector.
The policy dialogue brought together agribusiness entrepreneurs, investors, policymakers and civil society groups, with discussions centred on strengthening coordination and scaling investments to position agribusiness as a driver of sustainable economic growth, job creation and resilient food systems.
Source: Leadership News
Image Credit: Kebbi Daily Updates
