The Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, has called for a more adaptive and resilient approach to Nigeria’s agricultural strategy, amid rising concerns over food insecurity and economic vulnerability.
Edun made the call during the inaugural meeting of the Agricultural Sector Working Group (ASWG) held on Tuesday in Abuja, according to a post shared on Wednesday via the official X (formerly Twitter) account of the Federal Ministry of Finance.
He reaffirmed the Federal Government’s strong commitment to achieving sustainable food security by promoting innovative agricultural reforms and enhancing multi-sectoral collaboration.
According to the Minister, Nigeria must urgently realign its agricultural priorities with the post-Malabo agenda—Africa’s continental framework for agricultural transformation—by focusing on three key pillars: boosting productivity, expanding access to affordable finance, and unlocking opportunities for value-added exports.
He noted that agriculture remains the bedrock of President Bola Tinubu’s economic agenda.
He emphasized the need for a nimble agricultural framework capable of responding swiftly to global and domestic shocks, including climate change, inflationary pressures, and disruptions in the food supply chain.
The ASWG, which includes representatives from the Ministries of Finance, Agriculture, Industry, and other development partners, is expected to serve as a coordinating mechanism to harmonize policy, align investments, and track progress towards national and continental food security objectives.
Edun also assured stakeholders that the Ministry of Finance is prepared to back transformative initiatives across the agricultural value chain, including interventions in mechanization, irrigation infrastructure, agro-processing, and digital agriculture solutions.
He said the role of the Finance Ministry is not just to provide funds, but to ensure that our investment framework incentivizes innovation, accountability, and measurable impact in agriculture.
Why this matters
Nigeria’s agriculture sector employs over 70% of the rural population but continues to underperform due to poor infrastructure, limited access to financing, and low productivity.
With inflationary trends driving food prices to historic highs, the call for a more agile strategy has become urgent.
As the ASWG begins its mandate, experts say aligning domestic policy with Africa’s broader food security goals could help Nigeria tap into global and regional trade frameworks, particularly under the African Continental Free Trade Area (AfCFTA).
More insights
In December 2024, the Federal Government initiated measures to subsidise local wheat production to enhance food security and reduce reliance on imported wheat.
This effort is part of a broader strategy to promote agricultural productivity and bolster economic growth through the National Agricultural Growth Scheme and Agro Pocket (NAGS-AP).
The initiative aims to support 280,000 smallholder farmers and a select group of medium-scale farmers organized into clusters. To facilitate input distribution, 409 redemption centres have been established nationwide, with 281 already operational. These centres have reached 68,389 farmers, representing 24.42% of the target.
