The Federal Government has unveiled a $2.2 billion investment plan in tomato, cassava, and maize to increase productivity, reduce post-harvest losses, and strengthen food security across Nigeria.
The Minister of Agriculture and Food Security, Senator Abubakar Kyari, disclosed this during his presentation at the Hand-in-Hand Investment Forum held in Abuja.
Kyari emphasised that the initiative goes beyond agriculture, describing it as “an investment in food security, economic resilience, and sustainable development across Africa.”
According to him, a projected $869 million will be injected into tomato production across 72,000 hectares in Kano, Bauchi, and Borno States.
The programme aims to halve post-harvest losses, raise yields to 30 tonnes per hectare, and directly benefit 36,000 farmers. The investment is expected to deliver an internal rate of return (IRR) of 12.5% and a net present value (NPV) of $171 million.
Nigeria is targeting $382 million to expand cassava cultivation across 207,000 hectares in Ogun, Oyo, and Anambra States.
The project will directly support 45,000 farmers, establish 375 processing units, and reduce reliance on imported starch and high-quality flour. The cassava portfolio projects an IRR of 15.2% and an NPV of $187.7 million.
The largest share of the investment will go to maize, with $1 billion earmarked for cultivation on one million hectares across Katsina, Kaduna, and Oyo States.
Designed to close the nation’s 5 million metric tonne production gap, the programme will directly benefit over 420,000 farmers and nearly 3 million people indirectly. The maize initiative is expected to generate an IRR of 18.7% and an NPV of $75.6 million.
The minister highlighted that the investments will create thousands of jobs through value chain participation. For instance, tomato production alone will benefit 36,000 farmers directly and indirectly impact more than 246,000 people.
Cassava and maize programmes will collectively engage millions more, while also supporting processing plants, seed multiplication centres, and farmer cooperatives.
Kyari noted that these efforts would not only guarantee returns for investors but also strengthen Nigeria’s position in regional agricultural trade under ECOWAS and the African Continental Free Trade Area (AfCFTA).
“Investing in these value chains means investing in food security, jobs, and industrial growth,” he said.
Source: Authority News
Image Credit: FMINO
