The Minister of Budget and Economic Planning, Senator Abubakar Atiku Bagudu, has affirmed that Nigeria’s agricultural sector is witnessing significant progress under the leadership of President Bola Ahmed Tinubu, attributing recent gains to deliberate policy shifts, expanded investments, and a firm resolve to reposition agriculture as a pillar of the economy.
Speaking in Ibadan on Tuesday at the University of Ibadan's Agricultural Economics Distinguished Personality Lecture, delivered by Dr. Ndiame Diop, the Country Director of the World Bank Nigeria Country Office, Bagudu stressed that the positive transformation of the sector is a testament to President Tinubu’s proactive governance and bold reforms.
“Agriculture’s 1.76 per cent growth in the fourth quarter of 2024, alongside its impressive 25.59 per cent contribution to the nation’s overall 3.84 per cent GDP, is not a coincidence,” Bagudu told a distinguished audience of scholars, private sector leaders, policymakers, and students. “These figures are proof that we are heading in the right direction. The president’s interventions are maturing, and we are already seeing the results.”
Bagudu emphasized that the administration’s agricultural policies are built on seven strategic pillars: increased budgetary funding, access to finance, technological innovation, climate-smart practices, rural infrastructure development, enhanced public-private partnerships, and improved security for farming communities.
He provided a breakdown of budgetary allocations as a clear indicator of the administration's commitment to agriculture. “From N228.4 billion (1.05% of the 2023 budget), we moved to N362.94 billion (1.32% of the 2024 budget), and now to N826.5 billion (1.7% of the 2025 budget). This upward trajectory in funding underlines our seriousness in delivering on the Renewed Hope Agenda,” the minister stated.
Bagudu also cited the N100 billion National Agricultural Development Fund established in 2023 by President Tinubu to bridge financing gaps, as well as the Central Bank of Nigeria’s unprecedented donation of 2.15 million bags of fertiliser worth N100 billion to farmers, as targeted interventions that are already bearing fruit in various parts of the country.
According to him, these efforts are complemented by reforms to strengthen agro-industrial value chains, support extension services, and ensure food availability at affordable prices for Nigerians. “President Tinubu’s administration understands that food security is national security,” he said, “and we are acting with the urgency this moment demands.”
The minister also noted the administration’s visionary move in creating a separate Ministry for Livestock Development—a decision he described as historic and strategic, with the potential to resolve long-standing issues between crop farmers and pastoralists, while opening new economic frontiers in meat and dairy production.
Bagudu concluded by acknowledging that while challenges remain, the foundations being laid are solid. “Let me emphasise that the agricultural milestones of the last 23 months are not the destination, but a clear indication that the journey is on course. We are not yet where we want to be, but we are firmly on the path to achieving a truly transformed, modern, and resilient agricultural sector.”
The lecture, hosted by Nigeria’s premier university, also opened up broader conversations on food systems, climate adaptation, and international partnerships, with stakeholders commending the government’s willingness to work closely with both local and global actors to strengthen Nigeria’s agricultural base.
With renewed focus, funding, and foresight, Nigeria’s farmlands are no longer forgotten zones, but frontiers of economic rebirth—just as President Tinubu envisioned.