By Agrobroadcast Team
Nigeria’s drive to strengthen the agricultural sector has recorded fresh gains, with the Minister of Agriculture and Food Security, Senator Abubakar Kyari, revealing that the Nigerian Agricultural Insurance Corporation (NAIC) has provided risk cover worth N700 billion to 199,275 farmers within the past two years.
Kyari disclosed that the insurance support generated N2.43 billion in premium income, while about N200 million was paid out as claims to farmers affected by losses, helping them recover and continue production.
The minister made the disclosure during the 2026 Ministerial Stakeholders’ Engagement Retreat on Agricultural Transformation held over the weekend in Abuja.
According to him, recent interventions by the federal government in agriculture are beginning to reflect in the market, particularly in the decline in food prices across the country.
Kyari said prices of several key food commodities have dropped by nearly 50 percent nationwide, a development he described as a major shift from previous years when rising costs placed basic food items beyond the reach of many households.
He attributed the improvement to sustained government policies aimed at expanding food production, stabilising supply chains and attracting private investment into agribusiness.
The minister noted that the reforms had already drawn significant foreign and local investments into the agricultural value chain, providing fresh capital that is driving job creation and boosting economic activity in rural communities.
“These interventions are strengthening productivity across the sector, improving farmers’ incomes and positioning Nigeria’s agribusiness industry to compete more effectively,” Kyari said.
He added that government efforts are focused on sustaining the progress by reducing high production costs and ensuring food remains affordable for Nigerians.
Despite the progress recorded, stakeholders at the retreat called for greater financial commitment to agriculture, arguing that stronger investment in the sector could also help address security challenges by creating employment opportunities for millions of youths.
Kyari acknowledged that challenges still exist but maintained that prioritising agriculture as a key economic driver is already producing measurable results.
He stressed that achieving long-term food security would require strong collaboration among government institutions, private investors, farmers and development partners.
“Our approach is anchored on partnership and alignment of resources to drive the transformation of Nigeria’s agricultural sector,” he said.
The minister explained that government programmes are focusing on strengthening major agricultural value chains, including rice, maize, wheat, millet, sorghum, cassava, cocoa, soybeans, cotton, onion, tomato and oil palm, among others.
He noted that the distribution of improved seeds, agrochemicals, pest-control materials and safety kits, along with farmer training programmes carried out in 2024 and 2025, has helped farmers increase yields, reduce post-harvest losses and improve produce quality.
Kyari said these interventions are gradually enabling farmers to move beyond subsistence farming into commercially viable agribusiness operations, thereby expanding employment and supporting national food security.
Providing further insight into recent achievements, the minister revealed that the federal government distributed over 1.9 million bags of fertiliser to nearly one million farmers while also promoting sustainable soil management through the supply of organic fertilisers.
He added that the government has also invested in infrastructure to support agricultural development, including the construction of modern markets, establishment of 10 integrated processing plants across the six geopolitical zones, and seven composite flour milling factories in different states.
Two agribusiness incubation centres have also been launched at Federal University Lokoja and Michael Okpara University of Agriculture, Umudike to train young entrepreneurs and strengthen innovation in the sector.
Beyond farm production, Kyari said rural development projects have improved living conditions in farming communities. According to him, about 170 kilometres of asphalt roads and 57 kilometres of earth roads were constructed between 2024 and 2025 to ease transportation and market access.
The government also installed 296 motorised and solar-powered boreholes, water treatment facilities and 3,596 solar streetlights, while 69 rural housing and market facilities were built to support local economic activities.
Kyari further highlighted the role of key agricultural institutions such as the Nigerian Agricultural Insurance Corporation (NAIC), National Agricultural Quarantine Service (NAQS), Bank of Agriculture (BOA) and National Agricultural Development Fund (NADF) in strengthening Nigeria’s food system.
He noted that NAQS recently secured export certification for 30 major agro-commodities, enabling Nigerian farmers and exporters to access international markets and increase export revenue.
To further support farmers, the federal government has also approved a N250 billion facility for the Bank of Agriculture, aimed at providing single-digit interest loans to smallholder farmers for mechanisation, inputs and improved productivity.
Kyari said the initiative would expand food production, improve farmers’ livelihoods and accelerate Nigeria’s journey toward sustainable food security.