Vice President Kashim Shettima has announced fresh measures by the Tinubu administration to boost food security, including the disbursement of ₦250 billion Bank of Agriculture loans to smallholder farmers and the insurance of 250,000 farmers across eight states.
Shettima disclosed this on Thursday at the 152nd National Economic Council (NEC) meeting held at the Presidential Villa, Abuja.
Providing updates from the Presidential Food Systems Coordinating Unit, he revealed that:
- The 30% Value Addition Bill is progressing.
- The Green Imperative Project with Brazil is being restructured for financing.
- The World Bank-backed AGROW programme is mapping priority value chains for roll-out.
- The Harvesting Hope Caravan has so far reached 500,000 citizens in eight states, strengthening trust and grassroots mobilisation.
NESG Warns on Economic Risks
During the session, Tayo Aduloju, CEO of the Nigeria Economic Summit Group (NESG), briefed Council members on global and domestic economic challenges.
He identified structural bottlenecks, energy and transport deficiencies, foreign exchange liquidity issues, and over-reliance on oil as major obstacles to Nigeria’s economic growth. He also flagged political instability, policy reversals, and corruption as risks that could derail long-term reforms, especially with the approach of the 2027 general election.
Aduloju further highlighted external pressures such as climate change, trade tensions, capital flight, and increased competition from the African Continental Free Trade Area (AfCFTA), warning that Nigeria’s weak industrial base could struggle under these conditions.
NESG Summit 2025
The NESG CEO urged governments at all levels to support the upcoming NESG Summit in Abuja, which will focus on industrialisation-led growth under the theme:
- “Building Infrastructure for Competitiveness and Unlocking Investment amid Global Shifts.”
Key agenda items will include:
- “One Nigeria, Many Markets: A Forum for Subnational Competitiveness”
- Strengthening state-level economies to attract investment.
- Improving ease of doing business and infrastructure along key economic corridors.
- Driving inclusive growth by unlocking Nigeria’s diverse subnational markets.
Council members agreed to actively support the summit to align strategies with President Bola Tinubu’s Renewed Hope Agenda.
