Nigeria spends $10bln annually on food imports — FG
Minister of Agriculture and Food Security, Senator Abubakar Kyari, disclosed this on Tuesday at the First Bank of Nigeria Ltd. 2025 Agric and Export Expo in Lagos, where he stressed the urgent need to boost local production and agricultural exports.
Kyari, represented by his Special Adviser, Mr Ibrahim Alkali, described the rising import bill as unsustainable, noting that agriculture already contributes 35 per cent to the nation's Gross Domestic Product (GDP) and employs about the same proportion of the workforce.
'Nigeria spends over $10 billion annually importing food such as wheat, rice, sugar, fish and even tomato paste. Yet, we earn less than $400 million from agro exports. To build a non-oil export economy, we must rethink how we finance agriculture,' the minister said.
He lamented that despite Nigeria's vast agricultural potential, 85 million hectares of arable land and a youthful population where over 70 per cent are under 30, the country accounts for less than 0.5 per cent of global exports.
Kyari reiterated President Bola Tinubu's commitment to achieving food sovereignty, explaining that Nigeria must not only feed itself but also reduce dependence on imports.
'Food sovereignty means ensuring that no Nigerian goes hungry because of shocks in the global food supply chain. Boosting domestic production and building support for exports are not separate agendas—they are two sides of the same coin,' he said.
The minister identified financing, infrastructure, and value addition as critical gaps preventing Nigeria from unlocking its agricultural potential, adding that structured financial systems, forward contracts, and innovative mechanisms such as Pay-as-Harvest could drive the sector forward.
According to him, pivoting from oil dependence to agricultural resilience is key:
'We have the land, the labour, and the markets, but we lack the system of financing, value addition, and infrastructure that converts potential into prosperity.'
Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
4 hours ago
- Zawya
Minister of Planning, Economic Development, and International Cooperation Discusses Opportunities for Joint Cooperation with the Rector of the United Nations University (UNU)
H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with Professor Tshilidzi Marwala, Rector of the United Nations University, to discuss opportunities for joint cooperation between the two sides. This was during the activities of the Tokyo International Conference on African Development (TICAD 9), in which Egypt is participating with a high-level delegation headed by H.E. Dr. Mostafa Madbouly, Prime Minister, on behalf of H.E. President Abdel Fattah El-Sisi, President of the Arab Republic of Egypt. During the meeting, the two sides explored avenues of collaboration within the framework of the pivotal role played by the United Nations University, established in 1975, in building bridges between academic institutions across continents and advancing scientific research to achieve sustainable development, particularly in the Global South. In this context, the Minister of Planning, Economic Development, and International Cooperation underscored the importance of the Tokyo International Conference on African Development, which paves the way for broader areas of cooperation and partnership between Japan and African countries, as well as regional and international organizations. Dr. Al-Mashat affirmed the government's keenness to strengthen partnerships and cooperation with United Nations organizations and international institutions in order to advance efforts to achieve sustainable development. At the same time, H.E. pointed to the national efforts to localise technology, develop a strategy for artificial intelligence and launch a national council for artificial intelligence in order to keep pace with developments in these technologies, which have become a necessary factor for achieving development in various fields. The Minister of Planning, Economic Development, and International Cooperation welcomed the prospect of cooperation and partnership with the United Nations University to build upon the strong and longstanding partnership between Egypt and the United Nations, as Egypt is a founding member of the UN system. For his part, Professor Tshilidzi Marwala, Rector of the United Nations University, emphasized the University's keenness to continuing and strengthening cooperation with the Egyptian government to support its efforts in the areas of digital transformation, artificial intelligence, human capital development, and other fields that contribute to the achievement of sustainable development. It is worth noting that Japan is one of Egypt's most significant Asian development partners. The cooperation portfolio currently includes about 18 development projects in support of the government's plan to achieve sustainable economic development goals. The cooperation portfolio between Egypt and Japan is in line with Egypt's Vision 2030, the government's action programme (2024-2027), and the priorities of Japanese funding policies. The total technical support and grants provided by Japan amounted to about $2.4 billion, in addition to development funds amounting to about $7.2 billion, in the fields of renewable energy, electricity, transport, civil aviation, antiquities, irrigation, education and health, and budget support. Distributed by APO Group on behalf of Ministry of Planning, Economic Development, and International Cooperation - Egypt.
Zawya
5 hours ago
- Zawya
Zimbabwe's Lithium Boom Gains Pace with New Projects, Partnerships
Zimbabwe – Africa's top lithium producer and among the world's leading suppliers – is accelerating sector growth in 2025 through new partnerships, major project milestones and rising investment inflows. Against this backdrop, African Mining Week (AMW) 2025 – Africa's premier platform for mining stakeholders – will connect global lithium market players with investment-ready opportunities in Zimbabwe, while unpacking strategies to scale beneficiation and integrate the country into global supply chains. High-level discussions will feature Winston Chitando, Minister of Mines and Mining Development, alongside representatives from the Chamber of Mines of Zimbabwe. Export Growth Signals Momentum The country's production and export capacity is expanding rapidly. In the first half of 2025, Zimbabwe increased lithium exports by 30%, shipping 586,197 metric tons of spodumene concentrate compared to 451,824 metric tons in the same period of 2024 – underscoring its emergence as a critical supplier to global EV and battery markets. This trajectory strengthens Zimbabwe's position in global supply chains while highlighting the strategic importance of downstream investment and value addition within Africa. Beneficiation Efforts Gain Traction Zimbabwe is equally advancing local beneficiation to capture greater value from its resources. In July 2025, state-owned Verify Engineering successfully piloted a domestically manufactured lithium-ion battery, marking a step toward value addition and industrialization. A government ban on exports of lithium concentrates – set for 2027 – is already spurring construction of new facilities, including Kuvimba House's 600,000-metric-ton-per-year concentrator, Sinomine Resources' $500 million lithium sulphate plant at Bikita and Zhejiang Huayou Cobalt's 50,000-ton-per-year lithium sulphate facility. Rising Investment Flows The sector is attracting both established players and new entrants. In January 2025, Premier African Minerals secured £4.7 million to advance its Zulu Lithium Project, while since 2021, Chinese firms including Zhejiang Huayou Cobalt, Sinomine, Chengxin Lithium Group, Yahua Group and Tsingshan have invested over $1.4 billion in Zimbabwe's lithium value chain. Additional exploration is being advanced by companies from the UK, Canada, China, Australia, and Ireland, reinforcing Zimbabwe's position as a global lithium hotspot. This wave of capital not only diversifies Zimbabwe's investor base but also signals growing competition among global markets to secure reliable access to the country's strategic minerals. As AMW 2025 spotlights the full spectrum of mining opportunities across Africa, Zimbabwe's lithium sector will stand out as one of the continent's fastest-growing and most strategic investment frontiers. African Mining Week serves as a premier platform for exploring the full spectrum of mining opportunities across Africa. The event is held alongside the African Energy Week: Invest in African Energies 2025 conference from October 1-3 in Cape Town. Sponsors, exhibitors and delegates can learn more by contacting sales@ Distributed by APO Group on behalf of Energy Capital&Power.
Zawya
9 hours ago
- Zawya
Call for Exhibition Opens for 6th All-Africa Intellectual Property (IP) Summit 2025 in Dakar, Senegal
African Newspage ( is the official media partner of the 6th All-Africa Intellectual Property Summit (AAIPS 2025). With Africa's knowledge economy surging—African startups raised $289 million in January 2025 alone, a 240% year-on-year increase —AAIPS 2025 provides a premier stage to display innovations, forge strategic partnerships, and amplify visibility across the continent and beyond. 6 Reasons Why Exhibit at AAIPS 2025? 1. Brand Visibility&Market Expansion Exhibitors gain direct exposure to government leaders, private sector executives, and creative industry stakeholders. Demonstrating your IP solutions face-to-face creates lasting impressions, positioning your brand with those who matter most. 2. Networking with Decisionmakers Over 300 delegates, including ministers, policymakers, investors, academics, and innovators, will attend. This unique mix enables startups, SMEs, and IP professionals to build partnerships and engage directly with potential clients and funders. 3. Policy Influence AAIPS is more than an exhibition—it is a Pan-African platform shaping the future of IP policy. Exhibitors gain a front-row seat in influencing IP policy discussions and aligning Africa's innovation ecosystem. 4. Access to Finance&New Markets Investors and development agencies will attend AAIPS 2025 seeking innovations to support. Exhibiting at the Summit will open doors to capital, joint ventures, and partnerships to scale your ideas. 5. Thought Leadership&Credibility Showcase expertise, position your brand as an IP leader, and connect with Africa's growing innovation ecosystem. 6. Learning&Feedback Engage directly with participants, gather market insights, and refine your offerings based on real-time feedback. Exhibition Zones Innovation&Technology Zone – Innovators, entrepreneurs, and creators. Cultural Heritage&Creativity Zone – Showcasing Africa's traditions and creative industries. SMEs&Industrial Innovation Zone – Startups, businesses, and research groups. Youth&Women Entrepreneurs Zone – Empowering the next generation of Africa's innovators. IP Experts&Advisory Zone – Law firms, IP consultants, and national IP offices. Intellectual Property (IP) is central to Africa's development and intra-continental trade, protecting inventions, designs, brands, and cultural expressions. The All-Africa IP Summit is not just a gathering—it is a movement to transform Africa's innovation ecosystem. Apply now to exhibit and reserve your booth in Dakar: AAIPS Exhibition Form: Deadline: August 31, 2025 Innovation isn't silent—it exhibits loudly at the All-Africa IP Summit, 6th Edition in Dakar! Distributed by APO Group on behalf of African Newspage.
