Nigeria has unveiled three major agricultural investment opportunities worth over $2.2 billion in tomato, cassava, and maize production, forming part of its wider $3.14 billion portfolio under the FAO Hand-in-Hand Initiative.
The announcement was made at the Hand-in-Hand Investment Forum in Abuja by the Honourable Minister of Agriculture and Food Security, Senator Abubakar Kyari, CON.
According to Senator Kyari, the projects are aimed at unlocking productivity, cutting post-harvest losses, and boosting food security while offering investors significant financial returns. “Investing in these value chains means investing in food security, jobs, and regional trade under ECOWAS and AfCFTA,” he stated.
The tomato programme is valued at $869 million and will focus on 72,000 hectares in Kano, Bauchi, and Borno. It is expected to reduce post-harvest losses by half and raise yields to as much as 30 tonnes per hectare. The project will directly benefit 36,000 farmers and is projected to deliver an internal rate of return of 12.5 percent and a net present value of $171 million.
For cassava production, Nigeria is seeking $382 million in investment to develop 207,000 hectares across Ogun, Oyo, and Anambra. The initiative is set to directly support 45,000 farmers, establish 375 processing units, and reduce the country’s dependence on imported starch and high-quality flour. The portfolio reflects an internal rate of return of 15.2 percent and a net present value of $187.7 million.
The largest share of the investment is earmarked for maize, with a $1 billion plan to cultivate 1 million hectares in Katsina, Kaduna, and Oyo. The project aims to close Nigeria’s 5 million metric tonne maize production gap, benefiting over 420,000 farmers directly and nearly 3 million people indirectly. The financial outlook shows an internal rate of return of 18.7 percent and a net present value of $75.6 million.
Officials highlighted that the investments will strengthen food security, boost industrial growth, and promote regional exports while creating sustainable livelihoods for millions of Nigerians.
