Experts Convene to Shape Nigeria’s Agribusiness Future
On Tuesday, a group of experts gathered in Abuja to discuss pivotal issues affecting agribusiness development in Nigeria. The primary focus was on the implementation of the Comprehensive African Agricultural Development Program (CAADP) Strategy and Action Plan for the years 2026-2035.
This forum was organized by African Food Changemakers (AFC), in collaboration with Community Action for Food Security (CAFS). The theme of the event, “From Policy to Business: Transforming CAADP into a Scalable Agribusiness Opportunity in Nigeria,” aimed to bridge the gap between high-level policies and local business practices within Africa’s agri-food systems.
Development partners, government officials, private sector leaders, civil society representatives, and agribusiness stakeholders came together to assess practical approaches for fostering agribusiness growth and enhancing collaboration across various sectors.
Understanding the CAADP Framework
Established in 2003 as part of an African Union initiative, CAADP seeks to advance agricultural growth, mitigate poverty, and bolster food security across the continent. The new strategy for 2026-2035, launched under the Kampala Declaration, aims for a transformative shift in Africa’s agricultural landscape through sustainable production, agro-industrialization, and increased trade.
The plan emphasizes the necessity of elevating public investment to at least 10 percent of national budgets, alongside encouraging private sector participation. Its overarching goal is to mobilize over $100 billion by 2035, with specific focus areas such as soil health, fertilizer systems, seed development, and investments in the blue economy. Implementation will be guided by National and Regional Agricultural and Food Systems Investment Plans (NASIP and RASIP) and will include measures to enhance hygiene standards and combat livestock diseases by 2030.
Despite being a signatory to various treaties aimed at ensuring food security, Nigeria has yet to meet the 2003 Maputo Declaration target of allocating 10 percent of its annual budget to agriculture. Agriculture has traditionally been a principal driver of Nigeria’s economy, second only to crude oil, playing a vital role in national development.
While the government has introduced several agricultural rehabilitation and poverty alleviation policies, the sector remains underfunded. This underinvestment raises concerns over food shortages and threatens to impede economic growth. Reports from 2020 highlighted a persistent lack of significant investment in agriculture across different administrations, signaling that limited funding—not policy shortcomings—hinders growth in the sector, leading to widespread hunger and a reliance on food imports.
Connecting Policy with Business Needs
AFC Program Manager Kachi Nwachukwu pointed out that despite over $300 billion invested in CAADP initiatives from 2003 to 2023, nearly 280 million Africans still face hunger. The new CAADP framework for 2026-2035 presents a significant opportunity to rethink and reshape Africa’s food systems.
However, she cautioned that merely having policy frameworks is insufficient for fostering real growth and financial opportunities for agribusinesses, particularly those led by youth and women. This dialogue aimed to transform CAADP objectives into tangible, scalable opportunities that promote investment, market access, and growth among youth-led businesses in Nigeria.
CAFS Executive Director Azeez Salau emphasized that CAADP should be viewed as a call to action rather than just another policy framework. The shift from the Maputo Declaration to Malabo and now Kampala reflects the ongoing commitment to developing scalable, investment-ready agribusiness solutions that can create jobs, alleviate hunger, and unlock Africa’s economic potential.
In his remarks, Olumide Thompson from the Mastercard Foundation underscored the importance of tailored funding models to effectively support agribusinesses at various growth stages. He advocated for a mixed finance model integrating domestic, private, public, and international capital, noting that cluster-based models can enhance small and medium-sized enterprises’ investment appeal.
Addressing Persistent Challenges in Agribusiness
Discussions during the event highlighted several structural challenges that agribusinesses face, including limited access to finance, market fragmentation, inadequate value chain integration, and climate-related risks. While frameworks like CAADP offer robust policy direction, there are significant gaps in delivering measurable economic outcomes.
Participants identified four key areas for improvement: financing, market access, expansion of small and medium-sized enterprises, and governance. They called for a blended finance approach, stronger partnerships between financial institutions and agribusinesses, and inclusive financing models tailored to rural entrepreneurs and women.
Related article: Nigeria food inflation drops to 14.31%
When it comes to market access, participants stressed the need for clustering and aggregation models to help shift companies from subsistence to commercial operations. They called for enhanced investments in infrastructure, compliance systems, and market linkages to boost competitiveness and open up trade prospects.
Future Directions for Agribusiness Growth
AFC reiterated its commitment to supporting agribusiness through structured acceleration programs that prioritize export readiness, enterprise development, and market access. CAFS also affirmed its dedication to empowering smallholder farmers, women, and youth by pushing for sustainable food systems.
The dialogue concluded with a mutual commitment to strengthen collaboration across the public, private, and development sectors. Both AFC and CAFS pledged to work with diverse stakeholders to ensure that CAADP moves beyond policy discussions to actionable strategies that foster investment and cultivate a resilient, inclusive food system in Nigeria.
