By Abbas Nazil
Nigeria spends more than $10 billion every year importing food items, including wheat, rice, sugar, fish, and even tomato paste, according to the Minister of Agriculture and Food Security, Abubakar Kyari.
The minister, represented by his Special Adviser, Ibrahim Alkali, disclosed this in Lagos at the First Bank of Nigeria Ltd. 2025 Agric and Export Expo.
He lamented the high dependence on imports and emphasized the urgent need to scale up agricultural financing in order to strengthen local production and promote exports.
Kyari stressed that agriculture remains vital to the country’s economy, already contributing 35 percent to the Gross Domestic Product and employing 35 percent of the workforce.
He highlighted Nigeria’s potential, noting that the country has 85 million hectares of arable land and a youth population where more than 70 percent are under the age of 30.
Despite these advantages, he regretted that Nigeria accounts for less than 0.5 percent of global agricultural exports.
According to him, the nation currently earns less than $400 million from agricultural exports, a figure he described as far too low for a country with such vast resources.
He called for innovative financing systems and stronger infrastructure to unlock the sector’s potential.
Kyari reiterated the administration of President Bola Tinubu’s commitment to achieving food sovereignty.
He explained that food sovereignty means not only producing enough food for Nigerians but doing so independently and without excessive reliance on imports that make the country vulnerable to shocks in global supply chains.
He further explained that food sovereignty is about ensuring that no Nigerian goes hungry because of disruptions in international markets.
It also involves empowering local communities to thrive through the strength of the nation’s land, people, and productivity.
The minister noted that boosting domestic production and supporting exports are inseparable goals, describing them as two sides of the same coin.
He emphasized that Nigeria has the land, labour, and markets, but lacks the financing system, infrastructure, and value addition required to turn its potential into real economic prosperity.
Kyari insisted that the country must transition from an oil-dependent economy to one that is resilient in food production and driven by export earnings.
He urged a move away from raw commodity exports to value-added agribusiness and called for structured financial systems that attract significant capital rather than fragmented farmer credit.
He also highlighted the importance of youth participation in agriculture, stating that stereotypes must be broken and young people should be encouraged to see farming as a profitable and modern enterprise.
The minister called for critical thinking and innovative mechanisms to secure the nation’s food future.
He cited models such as revenue sharing, agricultural financing with performance triggers, factoring forward contracts, and Pay-as-Harvest schemes as practical solutions that have worked in other economies.
He observed that with the right financing, infrastructure, and value addition, Nigeria could significantly reduce food imports, expand exports, and achieve food sovereignty while ensuring that no citizen is left hungry.
