The Federal Government will launch a $500 million Niger Delta Agricultural Investment Fund on July 15 to finance large-scale agricultural projects across the nine Niger Delta states as part of efforts to boost food security and diversify the region’s economy.
The fund will be unveiled during the maiden Niger Delta Agricultural Development and Investment Summit at the Presidential Villa in Abuja. Vice President Kashim Shettima will chair its Board of Trustees.
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Speaking at a press briefing on Thursday, Deputy Chief of Staff to the President, Senator Ibrahim Hadejia, said the initiative has President Bola Tinubu’s approval and is expected to attract about 500 participants, including investors, development finance institutions, government officials and agricultural experts.
Hadejia said the fund is designed to unlock investment opportunities in the Niger Delta, describing the region as rich in agricultural resources despite its long-standing association with oil production.
He noted that the initiative aims to promote large-scale farming, create jobs, strengthen food security and increase agricultural exports, while supporting the Federal Government’s drive to diversify the economy.
The presidential aide dismissed concerns that the new fund would duplicate the responsibilities of the Presidential Food Systems Coordinating Unit, explaining that the investment vehicle is specifically focused on financing agricultural development in the Niger Delta.
Managing Director of the Niger Delta Development Commission (NDDC), Dr Samuel Ogbuku, said the summit would also inaugurate the Niger Delta Agricultural Development and Investment Council to coordinate the fund and mobilise additional financing from development partners, commercial banks and private investors.
According to Ogbuku, the investment fund will support priority agricultural value chains, including oil palm, cassava, cocoa, rice, horticulture, livestock and marine resources.
He said the initiative is intended to attract major agricultural investments to the region, reduce dependence on crude oil and encourage economic activities capable of creating sustainable employment.
Ogbuku added that the NDDC has already supported agricultural development through a ₦5 billion intervention for the Niger Delta Chamber of Commerce, co-financing of the IFAD-backed LIFE-ND programme and partnerships on agro-processing projects.
He also described the Niger Delta as a secure destination for investment, urging investors to take advantage of the region’s agricultural potential and improving business environment.
