Agriculture Minister Abubakar Kyari says Nigeria spends $10bn yearly on food imports and calls for increased financing to boost exports and achieve food sovereignty.
The Minister of Agriculture and Food Security, Sen. Abubakar Kyari, has revealed that Nigeria spends over $10 billion annually on agricultural imports, including wheat, rice, sugar, fish, and tomato paste.
Kyari made the disclosure at the First Bank of Nigeria Ltd. 2025 Agric and Export Expo held Tuesday in Lagos. Represented by his Special Adviser, Mr. Ibrahim Alkali, the minister described the situation as unsustainable, stressing the need for increased financing of the agricultural sector to strengthen food security and boost exports.
“Agriculture already contributes 35 per cent of our GDP and employs 35 per cent of our workforce. Yet, Nigeria earns less than $400 million from agro exports and accounts for less than 0.5 per cent of global exports,” he said.
Kyari reiterated President Bola Tinubu’s commitment to achieving food sovereignty, adding: “Nigeria must not only feed itself but do so on its own terms, free from excessive dependency on imports.”