Nigeria has launched a $500 million agriculture investment fund for the oil-producing Niger Delta region, aiming to boost food production, attract private capital and strengthen the country’s food security.
Vice President Kashim Shettima announced the initiative recently during an investment summit in Abuja, describing the fund as a commercially driven investment vehicle focused on transforming agriculture across the region, according to Reuters.
The fund will invest in key sectors, including aquaculture, palm oil, fisheries, livestock, crop production and marine resources, while leveraging financing from multilateral development institutions and private investors.
According to Shettima, the fund will pool financial commitments from the World Bank, the African Development Bank, the Islamic Development Bank and private-sector partners, although he did not disclose the detailed financing structure.
The initiative forms part of the federal government’s broader strategy to improve food security, expand agricultural productivity and stimulate private-sector participation in Nigeria’s agribusiness sector.
It also complements ongoing efforts to modernise agriculture through mechanisation, including plans to deploy 10,000 tractors across the country over the next five years to improve farm efficiency and increase food output.
The Niger Delta, traditionally known for its oil and gas resources, is also being positioned as a hub for agricultural investment and value-added production as Nigeria seeks to diversify its economy and reduce dependence on crude oil revenues.
