The Federal Government, in collaboration with the Niger Delta Development Commission (NDDC), will officially launch a $500 million Niger Delta Agricultural Investment Fund on July 15 to finance large-scale agricultural projects across the nine Niger Delta states. The fund will be commercially managed, with Vice President Kashim Shettima serving as Chairman of its Board of Trustees.
The initiative will be unveiled during the inaugural Niger Delta Agricultural Development and Investment Summit, jointly organised by the Office of the Vice President and the NDDC at the Banquet Hall of the Presidential Villa in Abuja.
Speaking at a joint press conference held at the State House on Thursday, the Deputy Chief of Staff to the President, Senator Ibrahim Hadejia, disclosed that the summit has received the endorsement of President Bola Tinubu and is expected to attract about 500 participants, including agricultural investors, development finance institutions, regional stakeholders, partner organisations, and approximately 40 resource persons.
Hadejia said the initiative demonstrates President Tinubu’s commitment to expanding agricultural development across every part of Nigeria.
He noted that although the Niger Delta is widely recognised for its oil and gas resources, the region also possesses enormous agricultural potential, with significant advantages in the production of both food and cash crops that have remained underutilised despite their capacity to improve national food security and boost agricultural exports.
According to him, the summit represents a shift from discussions to practical investment, from untapped opportunities to measurable performance, and from fragmented efforts to coordinated action.
He explained that the initiative aligns with the Federal Government’s vision of building a resilient, diversified, and inclusive economy, with agriculture serving as one of its major growth drivers.
Hadejia expressed confidence that the programme would stimulate investment, create employment opportunities, strengthen food security, and establish the Niger Delta as a major agricultural hub in Nigeria.
He also revealed that although the programme focuses on the Niger Delta, it has attracted international interest, with participation expected from global investment firms, Afreximbank, foreign embassies, and the Government of Brazil.
Responding to concerns over possible duplication of responsibilities with the Presidential Food Systems Coordinating Unit, Hadejia clarified that both bodies have separate mandates.
He explained that the Presidential Food Systems Coordinating Council was established to coordinate existing agricultural initiatives during the nation's food security challenges and is chaired by the Vice President, with governors representing the six geopolitical zones, major private sector players, and leading agricultural businesses as members.
According to him, the council's responsibility is limited to coordinating food systems and reporting to the President, while the new initiative is focused specifically on establishing and managing a $500 million agricultural investment fund dedicated to transforming agriculture in the Niger Delta from subsistence farming to commercial-scale production.
He stressed that there is no overlap in responsibilities between the two structures.
Encouraging young Nigerians to embrace agriculture, Hadejia cited India's agricultural output of approximately $520 billion and Brazil's $219 billion as examples of the enormous economic opportunities available in the sector.
He expressed optimism that, with proper investment and planning, agriculture could once again become Nigeria's leading economic driver, potentially surpassing the country's dependence on crude oil.
Providing additional details, the Managing Director of the Niger Delta Development Commission, Dr. Samuel Ogbuku, explained that the summit was conceived following a retreat organised by the commission in Port Harcourt in October 2025, where Commissioners for Agriculture and Food Security from the nine Niger Delta states met to develop strategies for diversifying the region's economy beyond oil production.
He disclosed that, in addition to launching the investment fund, the summit will inaugurate the Niger Delta Agricultural Development and Investment Council, which will oversee the implementation of the fund.
According to Ogbuku, Vice President Shettima will chair the Board of Trustees, while the NDDC Managing Director will serve as Secretary, with the Commission functioning as the Secretariat responsible for coordinating the fund alongside contributions from development finance institutions, commercial banks, private equity firms, and debt financing organisations.
He explained that the investment fund will support agricultural value chains including oil palm, cassava, cocoa, rice, horticulture, marine resources, and livestock production.
Ogbuku stated that the summit was convened in line with President Tinubu's directive for bold and innovative initiatives capable of unlocking the Niger Delta's economic potential through increased non-oil investments, recognising agriculture as a key driver of inclusive economic growth, food security, and diversification.
Reflecting on Nigeria's economic history, he noted that agriculture served as the country's economic backbone before the discovery of crude oil.
According to him, oil exploration contributed to the decline of the traditional agricultural economy, resulting in increased urban migration and unemployment as cities struggled to absorb the growing workforce.
He said the commission now seeks to reverse that trend by encouraging people to return to their communities through major agricultural investments capable of transforming the region into a centre for industrial-scale farming similar to the presence of International Oil Companies (IOCs).
Responding to questions about why the summit is taking place in Abuja rather than in the Niger Delta, Ogbuku explained that the event is designed as an investment summit rather than a discussion forum.
He said attracting investors requires engaging them where financial institutions, donor agencies, and investment partners are already based, adding that the goal is to convince major agricultural companies to invest in the Niger Delta.
He pointed to companies operating in states such as Ondo as examples of successful agricultural investments that the region hopes to attract.
Ogbuku also acknowledged that some previous agricultural projects executed by the NDDC did not achieve their intended objectives.
He cited a rice mill constructed in Elele, Rivers State, which struggled because of inadequate rice production to supply the facility.
According to him, the commission has since carried out a comprehensive assessment of its agricultural assets across the region to identify deficiencies that the new investment programme seeks to address.
He further disclosed that the NDDC recently provided ₦5 billion to the Niger Delta Chamber of Commerce to support small-scale agricultural enterprises.
The arrangement, he explained, was deliberately structured to shield the commission from political interference and discourage beneficiaries from viewing government support as free financial assistance.
Ogbuku added that the commission is also co-financing the International Fund for Agricultural Development (IFAD)-supported LIFE-ND Programme, which supports small and medium-scale farmers, while partnering with a private company on the development of a cassava starch processing plant in Bayelsa State.
Making a final appeal to investors, the NDDC Managing Director described security as one of the Niger Delta's strongest investment advantages.
He maintained that the region has become one of the safest parts of Nigeria for business and agricultural activities, unlike some areas where insecurity has discouraged farming.
According to him, investors naturally seek locations that guarantee profitability and stability, and the summit is intended to demonstrate that the Niger Delta offers a secure environment for sustainable agricultural investment and economic growth.
ADEOLA KUNLE
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