Date: November 5, 2026
By: Jane Daniels
The Federal Government has unveiled measures to strengthen agricultural financing, mechanisation and commodity purchasing to protect farmers from market uncertainties and boost food production.
Minister of Agriculture and Food Security, Senator Abubakar Kyari, disclosed this on Thursday in Enugu during the 48th Regular Meeting of the National Council on Agriculture and Food Security.
He said fluctuating food prices and rising production costs had left farmers struggling to recover their investments despite declining commodity prices.
To address the challenges, Kyari said the government had strengthened the National Agricultural Development Fund, prioritised the recapitalisation of the Bank of Agriculture and introduced the N200 billion Guaranteed Minimum Price Programme.
He disclosed that the National Agricultural Development Fund had reached over 115,000 beneficiaries in 25 states and the Federal Capital Territory, disbursing N16.27 billion in agribusiness financing.
The minister added that the Bank of Agriculture had financed more than 500,000 smallholder farmers.
He also announced that the second phase of the Renewed Hope National Agricultural Mechanisation Programme would provide 1,500 additional tractors and over 8,000 complementary equipment to improve access to modern farming machinery.
Kyari stressed the need to strengthen links between farmers and industries through reliable commodity supply, processing and market access.
He said agriculture contributed 26.15 per cent of Nigeria’s real Gross Domestic Product in the second quarter of 2026, urging state governments to improve production forecasts and align supply with industrial demand ahead of the 2027 farming season.
In his remarks, Enugu State Governor, Dr Peter Mbah, said his administration was transforming agriculture through investments in mechanisation, farm estates, agro-industrial facilities and market access.
Mbah disclosed that over 60,000 farmers had benefited from the state’s agricultural support programmes, while 107 tractors had been assembled through a partnership with Nortra Tractors.
He said the state had registered over 84,000 farmers digitally and was developing 260 farm estates across its 260 wards, backed by an agricultural land bank of about 187,000 hectares.
The governor also highlighted the expansion of Enugu United Palm Products to 6,917 hectares, creating over 3,500 jobs.
He said Enugu Songhai Farms was being developed with Tribu Limited as a 10,000-hectare agro-industrial hub.
Mbah added that the state was reviving Sunrise Flour Mills and developing an Integrated Livestock Development Centre in Ubahu, with a proposed capacity of 15,000 to 20,000 cattle.
He called for stronger collaboration among governments, development partners and private investors, declaring Enugu open for agribusiness and partnerships to unlock the sector’s economic potential.
