Nigeria's Agriculture Threatened by Subsidised Imports

Abubakar Bagudu, the Minister of Budget and Economic Planning, expressed concerns that subsidised imports and global trade distortions are jeopardizing Nigeria's agricultural growth. Speaking at the second biannual meeting of the Agrifood Systems Working Group in Abuja, he emphasized the need for stronger collaboration among government, private sector, and development partners to create a resilient food system.

Bagudu reaffirmed the Federal Government's commitment to transforming Nigeria's agrifood system through institutional reforms and increased private sector investment. He highlighted the challenges posed by rising fertiliser and energy costs and the impact of international conflicts on local agricultural production.

President Bola Tinubu's administration aims to use agriculture as a key driver for economic growth and poverty reduction, with a national target of lifting Nigerians out of poverty by 2030. Bagudu noted that Nigeria has over 42 million agricultural households, primarily smallholder farmers, and stressed the importance of empowering these households to improve productivity and food security.