Agric sector attracted $266.8 m foreign capital in three years

The nation’s agricultural sector attracted approximately $266.82 million in capital importation between 2023 and 2025.

An analysis of the National Bureau of Statistics (NBS) Capital Importation by Sector/Nature of Business series also explained annual inflows increased more than eightfold over the period.

The sector’s recorded capital inflows rose from $19.91 million in 2023 to $79.66 million in 2024, before more than doubling to $167.25 million in 2025.

The three-year total was obtained by adding the annual figures reported in the NBS series.

The increase between 2023 and 2024 was approximately 300.1 per cent, while the 2025 figure represented a further 109.9 per cent rise over the preceding year. Compared with 2023, the 2025 inflow was about 8.4 times higher, equivalent to an increase of approximately 739.9 per cent.

The figures indicated a substantial rise in recorded foreign capital entering the sector, although the absolute value remains modest relative to Nigeria’s total capital-importation figures and the financing requirements of its agricultural value chains.

The 2025 inflow was unevenly distributed across the year. Agriculture attracted $24.15 million in the first quarter, rising to $67.24 million in the second quarter.

Inflows subsequently declined to $24.67 million in the third quarter before recovering to $51.19 million in the fourth quarter.

The second-quarter inflow accounted for approximately 40.2 per cent of the annual total, while the fourth-quarter figure represented about 30.6 per cent. NigeriaNews Subscription

The quarterly pattern in 2024 was also uneven. Agriculture recorded $15.80 million in the first quarter, $5.91 million in the second and $4.64 million in the third quarter.

The fourth-quarter figure, approximately $53.31 million, is an implied value calculated by subtracting the published first-three-quarter figures from the reported annual total of $79.66 million.

The increase in capital inflows comes as the Federal Government seeks to expand domestic food production, agro-processing, agricultural value addition and non-oil exports amid persistent food-security and economic pressures.

The Nigerian Investment Promotion Commission (NIPC) identified commercial crop production, agro-processing, fisheries, livestock, agricultural inputs and related services as areas with investment potential.

 Its agriculture investment information also highlighted incentives and infrastructure initiatives intended to reduce the cost and risks of establishing agribusinesses, including Special Agro-Industrial Processing Zones (SAPZs), import-related reliefs for eligible agricultural equipment and opportunities for private-sector participation.

In September 2025, the Ministry of Agriculture and Food Security said it was targeting an agricultural investment portfolio of $3.14 billion across five priority value chains: tomato, cassava, maize, dairy and fisheries.

The ministry said investors could benefit from measures including tax incentives, exemptions on eligible agricultural machinery imports, pioneer-status tax holidays and incentives for firms sourcing raw materials locally.