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By Jimoh Babatunde
The Minister of Agriculture and Food Security, Abubakar Kyari, says the implications of food insecurity extend beyond hunger as it affects health outcomes, diminishes the productivity of the labour force, and contributes to social and economic instability.
He noted that food insecurity has long-term consequences, undermining the well-being of future generations and threatening national security.
Speaking during the Food and Energy Security in Africa Conference, which was put together by White & Case LP in collaboration with Africa Finance Corporation, Nigeria Sovereign Investment Authority, and Afreximbank in Lagos, the Minister said the realization made President Bola Tinubu place agriculture on the front burner as a pathway to national food security and economic stability.
While noting that the government is determined to transform the agricultural landscape, Abubakar Kyari said it is impossible to do it alone without the support of the private sector.
“Strategic collaborations such as this are vital for sustainable solutions. Our agricultural sector, a pillar of Nigeria’s economy, faces numerous obstacles that limit its full potential. Climate change has intensified unpredictable weather patterns, leading to droughts and floods that devastate crops and threaten food supply chains.
“Soil degradation, driven by overuse and poor land management practices, reduces agricultural yields.
He added that insecurity, “particularly in rural farming communities, poses a significant threat to agricultural activities, displacing farmers and disrupting food production. Furthermore, inadequate infrastructure, from roads and irrigation networks to storage facilities, exacerbates food loss and raises the cost of agricultural inputs.”
The Minister of Agriculture said “The solutions we seek must be bold, innovative, and holistic. We need to increase our investment in climate-smart agriculture to make our farms more resilient to the effects of climate change. Expanding irrigation systems and adopting water conservation practices will be critical.
“Our administration is also focusing on improving the agricultural value chain. This means investing in better storage facilities, efficient logistics, and robust agro-processing industries to minimize post-harvest losses.
“These efforts can transform our raw agricultural products into higher-value exports, boosting our economy and providing income for our farmers. We recognize that innovative solutions are emerging daily, and we must remain open to new ideas. I invite you to contribute your expertise and practical insights to this discourse.”
He said achieving food security in Nigeria is a profound mission and requires “each of us to contribute not only our expertise but our commitment to action.”
He added, “The agricultural sector employs over 25 million people, representing around 30% of the total workforce while contributing to around 40% of our GDP.
“A significant aspect of the economy with the potential to drive Nigeria’s aspirations to become a trillion-dollar economy. I keep saying that Nigeria is a trillion-dollar economy waiting to happen and it is still. All we need to do is to focus on how to improve our export values.
“That is a combination of oil and gas exports, transforming, and monetizing the gas to utilize our production of petrochemicals, methanol, and the like. And of course, food, because we cannot just feed ourselves but feed all of West Africa and all of Sahel. It is also important for us to understand the opportunity for food.”
Adegoke said Nigeria has the land, the people and the institutions, “We have several institutions that have been built to support agricultural production. For some reason, we’ve not managed to put it together.”
Also, the President and CEO of Africa Finance Corporation, Samaila Zubairu, in his keynote address, said the key challenge to agricultural production in Nigeria is financing the smallholder farmers.
“Who is providing capital to them and at what cost are they getting the capital? We need to solve things like that and I think that the collaboration of ourselves and NSI and other partners that have indicated interest to be on this journey.
“Coming together, convening all the actors would find the solutions that will enable us to seize the moment for increased agricultural production in Nigeria.”
He added “I think one of the things that we should get out of this conference is convening of all the various stakeholders and all the institutions that have been established already to focus on agriculture in Nigeria. We need to find ways to put them all together, take a wide canvas and see what role each one is playing and how we can help address some of the key challenges.”
Aminu Unmar-Sadiq, the CEO of Nigeria Sovereign Investment Authority, in his keynote address, also disclosed that they have a joint project preparation facility with Afrexim where they are considering significant amounts of projects in the energy and the food space.
“We are hopeful that investment policy permitting in the next six months, we should be announcing our first two projects on the energy and food side. It’s been a privilege to be a part of this alongside exceptional partners at White & Case, AFC, Afrexim.”