The Federal Government has expressed concern that Nigeria earns less than $400 million from agricultural exports, despite the sector contributing significantly to the economy.
Minister of Agriculture and Food Security, Senator Abubakar Kyari, raised the concern on Tuesday in Lagos at the First Bank of Nigeria 2025 Agric and Export Expo.
He noted that agriculture contributes 35% of Nigeria’s GDP and employs about the same proportion of the workforce, yet the country accounts for less than 0.5% of global agricultural exports.
“We sit on 85 million hectares of arable land with a youth population of over 70% under the age of 30, yet Nigeria earns less than $400 million from agro-exports. To build a non-oil export economy, we must rethink how we finance agriculture,” Kyari said.
The minister reiterated President Bola Tinubu’s commitment to food sovereignty, stressing that Nigeria must be able to feed itself independently of global supply shocks.
He argued that boosting domestic production and supporting exports must go hand-in-hand, highlighting the need for structured financing systems, value addition, and modern infrastructure to transform agricultural potential into prosperity.
Kyari also called for innovative financing models, such as performance-linked agricultural goals, forward contracts, and “Pay-as-Harvest” schemes, to strengthen food security and export earnings.
According to him, Nigeria must urgently transition from dependence on oil to resilience in food production and value-added agribusiness.
