In an effort to revitalize food production, create jobs, and industrialize the Niger Delta, the Federal Government has introduced a $500 million Niger Delta Agricultural Investment Fund. During the Niger Delta Agricultural Development and Investment Summit in Abuja, Vice President Kashim Shettima highlighted that Nigeria’s prosperity was historically rooted in agriculture, emphasizing that the nation relied on its soil long before oil exports became the primary revenue source.
The summit, themed ‘Unlocking Investment for Sustainable Agricultural Transformation in the Niger Delta,’ brought together regional governors, diplomatic representatives, and international financial institutions. Vice President Shettima announced the creation of the Niger Delta Agricultural Development and Investment Council, which he will lead to oversee the fund and align commitments from organizations like the World Bank, the African Development Bank, and private investors. This capital will support sectors including aquaculture, palm oil, cocoa, and rice.
Dr. Samuel Ogbuku, Managing Director of the Niger Delta Development Commission, noted that this initiative marks a shift away from the region’s long-standing focus on oil and gas. He explained that by fostering agribusiness, the commission aims to create sustainable wealth, particularly as international oil companies move operations offshore. Dr. Kingsley Uzoma, the Senior Special Assistant to the President on Agribusiness and Productivity, stated that the project aligns with President Bola Tinubu’s mandate to diversify the economy and ensure national food security by transforming the Niger Delta into a hub for agricultural investment.
