By Eneojo Herbert Idakwo
In a landmark statement on Nigeria’s agribusiness potential, the federal government underscored its commitment to fostering sustainable agriculture through incentives and strategic partnerships that attract robust private-sector involvement. Abubakar Kyari, the Minister of Agriculture, conveyed this during the opening ceremony of the third Agribusiness Roundtable Conference in Uyo, Akwa Ibom State.
Kyari highlighted the government’s intention to create a viable economic environment for local and foreign investors in agriculture. “The federal government has tailored agricultural investment incentives to provide tax holidays, exemptions, and reliefs,” he explained, “structured to meet specific government policies, company performance, and align with international investment treaties.” This comprehensive approach aims to shift agriculture from a basic development program to a formidable business venture, designed to unlock the vast potential of Nigeria’s agricultural value chains.
Kyari emphasized the government’s strategy to capitalize on Nigeria’s comparative advantage in specific agricultural sectors, ensuring value addition for local farmers and increased profitability for agribusinesses. He noted that the conference aligned with President Bola Tinubu’s vision, following the recent declaration of a state of emergency on food security. This vision, Kyari stated, is “an agricultural revolution aimed at strengthening food and nutrition security, while advancing industrialization to generate wealth and job opportunities.”
The Minister reaffirmed the government’s determination to implement policies and programs that foster a secure food environment for Nigerians. “We are resolute in delivering policies that will not only guarantee food security but also enhance our ministry’s objectives as laid out by President Tinubu,” Kyari added.
Beyond policy, Kyari acknowledged the importance of partnerships with state governments and the organized private sector. These collaborations focus on empowering youth and women with essential skills in entrepreneurship, technical expertise, and market access to build a more inclusive and vibrant agricultural sector.
The conference, themed “Unlocking Agribusiness Opportunities for Economic Sustainability” and branded as ‘Uyo 2024,’ attracted a diverse group of participants, including banks, financial institutions, farmers, and private-sector leaders. Stakeholders discussed the challenges and opportunities within Nigeria’s agriculture sector, working toward a unified goal of economic sustainability and agribusiness transformation.
John Etim, Akwa Ibom State Commissioner for Trade and Investment, welcomed participants by spotlighting the state’s efforts to prioritize agriculture through the Arise Agenda—an economic blueprint that places agriculture at the center of its development plans.
As the three-day conference continues, there is optimism that strengthened stakeholder collaborations will catalyze opportunities for job creation, food security, and economic diversification, setting Nigeria on a transformative path toward a prosperous agribusiness economy.
