The Federal Government on Tuesday announced new incentives to attract agricultural investment.
It also pledged reforms to expand irrigation, improve access to credit and create millions of rural jobs under President Bola Tinubu’s economic agenda.
Vice President Kashim Shettima outlined the plans at the Food and Agriculture Organisation’s National and Subregional Hand-in-Hand Investment Forum in Abuja, calling hunger “the great equaliser that reveals our vulnerâbilities and the shared frågility of our existence.”
Senior Special Assistant to the Vice President on Media and Communications, Stanley Nkwocha, revealed details of Tuesday’s meeting in a statement titled ‘More incentives for farmers as FG unveils new agric investment incentives.’
The measures include single-window platforms for land registration, strengthened agricultural credit systems, large-scale mechanisation, and strategic irrigation projects.
Shettima said Nigeria has the capacity to irrigate more than three million hectares of farmland, but currently uses less than 10 per cent of that potential.
“Strategic investment in irrigation alone could triple yields, free us from seasonal dependency, and fortify our resilience against climate shôcks,” he stated.
“Nothing unifies humanity as much as húnger.
“It is the great equaliser that reveals our vulnerabilities and the shared frågility of our existence.
“Food is not merely a matter of survival; it is a matter of global security,” Shettima added.
The Vice President noted that Nigeria’s blueprint under the 2021–2025 National Development Plan aims to lift 35 million people out of poverty, create 21 million jobs in rural communities and secure food and nutrition sufficiency.
Shettima specifically observed that irrigation is a game-changer, noting that Nigeria has river basins and aquifers capable of irrigating over three million hectares but currently uses less than ten per cent.
“Strategic investment in irrigation alone could triple yields, free us from seasonal dependency, and fortify our resilience against climate shocks,” he added.
He assured investors that regulatory reforms, public-private partnerships and agri-tech innovations would make Nigeria “open for business.”
“Nigeria is open for business, and we are ready to partner with you. Let us work hand-in-hand to build a Nigeria and a subregion where no one goes to bed húngry, where rural communities are hubs of wealth creation, and where agriculture is the true foundation of our prosperity,” Shettima said.
Earlier, Minister of Agriculture and Food Security, Abubakar Kyari, described Nigeria’s market, large arable land and growing digital economy as unique opportunities for investors.
He said a combination of Nigeria’s domestic market, large arable land, clement weather and fast-growing digital economy presents unique opportunities for investment across the agribusiness ecosystem.
In his remarks, the Minister of Budget and Economic Planning, Atiku Bagudu, said the economic potential of Nigeria remains largely untapped, especially in agriculture and irrigation, which hold significant promise for economic diversification and transformation.
He noted that agriculture, particularly agribusiness, remains a pivotal component of Nigeria’s national development plan in the medium and long term, as well as the Renewed Hope Agenda of President Tinubu.
For his part, the Minister of Agriculture, Livestock and Food Security of The Gambia, Demba Sabally, commended the FAO for hosting the event and Nigeria’s leadership in agriculture, highlighting the country’s success stories in the rice and cassava value chains as worthy of emulation by countries in the sub-region and beyond.
Sabally emphasised the need for peer review among countries in the West African sub-region because of their common challenges and opportunities for growth and transformation.
In the same vein, representative of the FAO in Nigeria and ECOWAS, Hussein Gadain, said the Hand-in-Hand Initiative is FAO’s “evidence-based, country-led, and country-owned flagship programme, designed to accelerate agricultural transformation and sustainable rural development.”
Gadain said the programme is squarely aimed at eradicating poverty, ending hunger and all forms of malnutrition, and reducing inequalities. It is our vehicle for achieving the SDGs.
Commending Nigeria’s clear agricultural development priorities and describing them as catalysts for transformative and sustainable growth within Africa’s agri-food systems, Gadain hailed Vice President Shettima’s genuine commitment and visionary leadership in transforming Nigeria’s agri-food systems.
According to the FAO rep, the VP’s “passion for agriculture, food security, and nutrition is unmatched. He has been a driving force in attracting crucial investments and fostering innovation, and his continued engagement deserves our highest commendation.”
Also, the Head of the EU Delegation in Nigeria, Mr Gautier Mignot, said the Hand-in-Hand Initiative reflects Nigeria’s strong commitment to strengthening food security and deepening investment across the agribusiness value chain.
He declared that the EU remains Nigeria’s long-term partner in Nigeria’s agricultural journey and is committed to investing in value chain development in the country, starting with the recent investment of over 80 million euros to unlock opportunities in key value chains across seven states.
Tuesday’s unveiling comes as rising food prices and climate shôcks have intensified calls for long-term investment in the sector.
Nigeria has been under pressure to cut its reliance on imports and address food insêcurity, which worsened after fuel subsidy removal and currency reforms deepened inflation in 2023.
Meanwhile, the All Progressives Congress in Lagos State has described the gale of endorsements of President Bola Tinubu ahead of 2027 as proof of his ‘settled’ reelection.
The APC Spokesman, Seye Oladejo, in a statement on Tuesday in Lagos, said the ruling party was amused at the Peoples Democratic Party’s dismissal of the President’s endorsements.
PDP National Publicity Secretary, Debo Ologunagba, in Abuja on Monday, alleged that APC was shopping for endorsements and garnering support for Tinubu through various means because the party was in panic mode.
Reacting, Oladejo, who noted that the broad support for Tinubu was proof of acceptance of his reforms, said “the only people in panic mode are those with an empty shell called a party.”
He said, “Panic is when a party that once boasted of being ‘Africa’s largest’ is now reduced to an empty kiosk, preparing for a convention as if preparing for World War 3 due to threats within.
“Panic is when members of a political party defect at the mere whisper of internal disagreement, scampering like headless chickens.
“If there’s any party on a shopping spree, it is the PDP – desperately shopping for presidential candidates as a reflection of its lack of depth.
“Today, the only news the so-called “largest political party in Africa” looks forward to is the story of which of its governors has crossed over to the ruling party. That, unambiguously, is the true definition of panic.
President Tinubu’s endorsements are not panic but proof. Proof of reforms that are taking root, proof of courage that Nigerians admire, and proof of leadership that even PDP’s closet sympathisers quietly acknowledge.”
According to him, when a man is destined for the throne, even his enemies clap unwillingly.
He claimed that the former ruling party remained blinded by bitterness, preferring to shout from the sidelines.
Oladejo said that for 16 years, the PDP wasted Nigeria’s wealth and opportunities.
He said that while Tinubu was bearing the heavy burden of reforms, the former ruling party was standing idly by, throwing stones and pretending to matter.
“For avoidance of doubt, every endorsement of President Tinubu is another confirmation that 2027 is a settled matter.
“PDP can only look forward to yet another humiliating defêat – the type that makes a móckery of their relevance and confirms their total rejection by Nigerians.
“For APC, the journey continues. For PDP, the panic continues. APC builds, PDP bleeds,” he added.
According to him, if PDP does not retrace its steps, it rísks losing what is left of its relevance.
Also defending President Tinubu’s performance, the Presidency has stated that the ongoing government investments in infrastructure have helped lift over 10 million Nigerians out of multidimensional poverty.
This was made known by the Special Adviser to the Presidency on Economic Matters, Tope Fasua on television on Tuesday.
Fasua explained the central role of infrastructure development in addressing multidimensional põverty, which he described as põverty arising from a lack of access to basic social amenities rather than income alone.
He noted that despite the absence of updated multidimensional poverty data since 2022, his own estimates indicate that the number of Nigerians living in such conditions has dropped significantly.
Fasua said continued investments in infrastructure under the administration of President Bola Ahmed Tinubu are key to sustaining this progress and further reducing põverty levels in the country.
One of the things I’ve been writing on…is the centrality of infrastructure towards reducing multidimensional põverty. Multidimensional poverty is defined as non-debt, non-income poverty and põverty relating to the availability of basic infrastructure. Therefore, the only way you can reduce multidimensional is to fund infrastructure, whether it’s roads and bridges, power infrastructure, including renewable energy, even things like water and other things that people need, schools, education, and health. That is very important for us to do.
“Unfortunately, we haven’t actually updated the multidimensional poverty data since 2022. Every six months, if you ask me. You know, so by now, I think we’ve taken quite a number of people out of multidimension… From my own calculation, about 10 million people have been possibly impacted. Maybe we should be talking about 120 million or even a lot less.”
In similar vein, former Speaker of the House of Representatives, Mr Yakubu Dogara, has described President Bola Tinubu’s sweeping tax reforms as the most ambitious overhaul of Nigeria’s fiscal framework in decades.
He urged the government to prioritise transparency and sustained implementation to secure public trust.
Dogara made the call on Tuesday while delivering the maiden Distinguished Parliamentarian Lecture organised by the House of Representatives Press Corps at the National Assembly Complex, Abuja. His lecture, titled “Navigating Tax Reform in Nigeria: Insights on President Tinubu’s Policies”, examined the origins, scope, and expected impact of the reforms encapsulated in the Nigeria Tax Act 2025 and related legislation.
He recalled that President Tinubu inherited a troubled economy riddled with “Economic debris,” including excessive deficit financing through Ways and Means, dual exchange rates that enriched a few at the expense of many, and crude oil forward sales tied to foreign loans.
“By the time President Tinubu took office, N22.7tn had been printed and injected into the economy, destrõying the value of the naira. Some anointed people were making hundreds of millions off forex allocations without producing any goods or services whatsoever,” he said.
According to Dogara, these distortions made urgent reforms inevitable. “From day one, it was clear that something urgent, nay revolutionary, must be done to prevent our economy from imploding,” he stressed, praising the President’s courage in driving the reforms despite opposition.
He outlined key provisions of the reform package, which consolidate 16 federal tax statutes into four principal Acts: the Nigeria Tax Act 2025, Nigeria Tax Administration Act 2025, Nigeria Revenue Service (Establishment) Act 2025, and the Joint Revenue Board (Establishment) Act 2025. These laws will take effect in January 2026, simplifying Nigeria’s tax regime, broadening the tax net, and aligning rules with global standards.
Quoting the report of the Presidential Committee on Fiscal Policy and Tax Reform, chaired by Taiwo Oyedele, Dogara said the reforms were conceived to “protect the pōōr, empower businesses, encourage investment, and ensure fairness across society.”
Among the reliefs are exemptions for small companies with turnover of N100m or less, rent reliefs for salaried workers, and a full income tax exemption for individuals earning N800,000 or less annually.
He also addressed concerns over a five per cent fuel surcharge, clarifying it was not a new tax but a provision already in the Federal Roads Maintenance Agency Act, 2007.
“This safeguard eliminates récklessness and ensures timing and economic conditions are carefully considered,” he said.
While applauding the reforms, Dogara warned of challenges with interpretation, digital readiness, and compliance costs. “True tax reform is not about raising rates, but about raising trust. When citizens can see where their naira goes, they are proud to give it,” he said, urging government to channel revenues into infrastructure, healthcare, and education.
“This is a legacy that would impact generations after us and cement President Tinubu’s place in Nigeria’s history as the undisputed most consequential economic reformer of our time,” he added.
The Speaker of the House of Representatives, Tajudeen Abbas, also commended the reforms, calling them a decisive step toward fairness and efficiency. He was represented by the House Spokesperson, Akin Rotimi, who said, “Indeed, what we now have before us is one of the most significant steps of building our Fourth Republic, with the greatest potential to transform our economy and fiscal institutions.”
Other voices at the event, including the Federal Inland Revenue Service, the Civil Society Legislative Advocacy Centre, lawmakers, and the Nigeria Union of Journalists, echoed calls for transparency, accountability, and effective communication to build trust in the reforms.
Chairman of the House of Representatives Press Corps, Gboyega Onadiran, said the lecture was designed to demystify Tinubu’s tax reform agenda and clarify issues for Nigerians.
Organising Committee Chairman, Philip Nyiam, added that the initiative marked a new chapter for parliamentary reporting by positioning journalists as “Agenda setters and contributors to national development.”
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