Unlocking Nigeria’s agricultural export potential

Despite vast arable land, fertile soil, and a favorable climate, Nigeria struggles with food security. Bill Gates, at the 2024 Nutrivision event, highlighted Nigeria’s potential to become a global food exporter by addressing malnutrition through investment and innovation in agriculture. However, insecurity, post-harvest losses, and poor infrastructure hinder progress. Nigeria imports significant food, with a $3 billion annual food import bill, and 26.5 million people face food insecurity. To change this, the government must invest in agriculture, improve infrastructure, enhance mechanization, and secure farmlands to boost food production and exports.
Source: Punch

Our Review
Nigeria’s vast agricultural potential remains largely untapped despite having fertile land and favorable climatic conditions. Bill Gates’ reminder during the 2024 Nutrivision event underscores the critical need for innovative investments and strategies to tackle the nation’s food security challenges. For agribusiness professionals, this highlights the necessity of a holistic approach that addresses issues across the value chain.
The country’s reliance on food imports—totaling $10 billion annually—signifies inefficiencies in domestic production, post-harvest handling, and infrastructure. The staggering N3.5 trillion lost yearly to post-harvest inefficiencies reflects the need for investment in storage, transport systems, and modern farming techniques. Addressing these challenges could significantly reduce Nigeria’s food import bill, revitalize local agricultural industries, and elevate the country to a net food exporter.
The insecurity plaguing farming communities further exacerbates food production shortfalls, stressing the need for a coordinated state policing system to protect farmers. Additionally, the underinvestment in agriculture, reflected in the federal budget, stifles progress. A focused increase in agricultural funding, infrastructure improvement, and technological adoption could be transformative.
Agribusiness stakeholders must push for these reforms, leveraging innovation and partnerships to foster growth and improve decision-making across the value chain.