Lagos: Nigeria spends $10 billion annually on agro-imports, including wheat and fish, as disclosed by the Minister of Agriculture and Food Security, Sen. Abubakar Kyari. This revelation was made during the First Bank of Nigeria Ltd., 2025 Agric and Export Expo in Lagos.

According to News Agency of Nigeria, the minister, represented by his Special Adviser, Mr. Ibrahim Alkali, emphasized the urgent need to increase financing for agricultural activities to enhance local exports. Kyari highlighted that Nigeria’s agriculture sector, despite contributing 35% to the Gross Domestic Product and employing a similar percentage of the workforce, contributes less than 0.5% to global exports. He pointed out the vast potential with 85 million hectares of urban land and a significant youth population, yet the country earns less than $400 million from agro-exports annually.

The minister reiterated the administration’s commitment to achieving food sovereignty, stressing the importance of reducing dependency on imports. President Tinubu’s administration aims to ensure that Nigeria can feed itself independently of global food supply chain disruptions. Kyari highlighted the dual goals of boosting domestic production and building support for exports as interconnected strategies essential for national prosperity.

Kyari further noted the necessity of improving financial systems, value addition, and infrastructure to convert Nigeria’s agricultural potential into prosperity. He also called for enhanced mechanisms and critical thinking in the agricultural sector, suggesting innovative approaches like revenue sharing and performance-triggered agricultural goals.