Business
NABG: Advancing Agriculture For Sustainable Growth

Read the journey of Nigeria’s agricultural sector and its potential for growth and learn about the Nigeria Agribusiness Group (NABG’s) efforts to uplift farmers and create employment opportunities.
Over the past decade, Nigeria’s agricultural sector has faced significant challenges despite various attempts by previous governments to improve its productivity. Factors such as insurgency, lack of affordable inputs for farmers, and other obstacles have hindered the sector’s progress.
However, research indicates that agriculture engages around 70% of Nigerians, highlighting its critical role in providing employment opportunities and driving economic growth. To address these issues and expand the frontiers of agricultural development, the Nigeria Agribusiness Group (NABG) has emerged as a leading civil society organization dedicated to growing Nigeria’s agricultural economy.
Role Of Nigeria Agribusiness Group (NABG)
The NABG, comprising influential business players in the agricultural sector, collaborates with local and global donor agencies and works closely with the government to enhance Nigeria’s agricultural economy. By creating an enabling environment for private capital investment and focusing on broadening the frontiers of agricultural growth, the NABG aims to lift millions out of poverty and generate employment opportunities for the country’s youth.
The Pre-Presidential Technical Meeting
Recently, the NABG organized a pre-presidential technical meeting to evaluate the agricultural sector’s performance over the past eight years. The objective was to set an agenda for the upcoming presidential roundtable summit, scheduled to take place in Abuja. The meeting brought together key partners, including Harvest Plus, the International Fertiliser Development Centre (IFDC)/HortiNigeria, the International Institute for Tropical Agriculture (IITA), and the Global Alliance for Improved Nutrition (GAIN). These stakeholders engaged in insightful discussions to identify critical areas for the sector’s development.
Objectives Of The Technical Meeting
The technical meeting served as a platform to bring together diverse perspectives and foster collaboration among stakeholders. The key objectives included shaping policies, exploring emerging trends, promoting sustainable agribusiness development for the next four years, and encouraging open and constructive dialogue on pressing issues in Nigeria’s agribusiness sector. Through evidence-based discussions, participants aimed to address challenges and develop innovative solutions while sharing their insights and experiences.
Focus Areas For Agricultural Development
The technical meeting aimed to lay the groundwork for the upcoming presidential roundtable summit, focusing on key aspects such as the digital transformation of the sector, integration of the value chain, and enhancing national food security. Participants delved into topics such as agric technologies, precision agriculture, market trends, consumer preferences, and the assessment of environments conducive to sustainable farming practices. Furthermore, the meeting highlighted the need to review agricultural policies, regulatory landscapes for export and global trade, logistics in farm-to-table movements, and addressing post-harvest losses and weak storage facilities.
The Importance Of Collaboration And Support
Recognizing the significance of collective efforts, stakeholders emphasized the crucial role of collaboration in achieving food security and improving nutritional outcomes. The Country Manager of Harvest Plus, Yusuf Dollah, stressed the importance of maintaining and sustaining food production quality for both local consumption and exports. Dr. Michael Ojo, the Country Director of the Global Alliance for Improved Nutrition (GAIN), emphasized the need to address malnutrition, food insecurity, and limited economic opportunities, especially for the 80% of Nigerians facing these challenges.
Supporting Smallholder Farmers And Incentives
To transform agriculture and support smallholder farmers, stakeholders highlighted the necessity of creating an enabling environment and investing in requisite technologies. Dr. Michael Ojo, Country Director of GAIN, emphasized the role of governments and relevant stakeholders in providing incentives and support to smallholder farmers. Dr. Abdullahi Umar, the representative of IFDC/HortiNigeria, pledged their willingness to collaborate and partner with the NABG in advancing the growth of the agricultural sector in Nigeria.
The Planned Presidential Retreat
Building on the collaborative efforts of the NABG and other stakeholders, the upcoming presidential retreat holds the promise of unveiling new strategies for Nigeria’s agricultural development. In the face of challenges posed by climate change, it is imperative to take deliberate measures to address the issues affecting agriculture. One potential game-changer is the proposed project to recharge Lake Chad by channeling the Bangi River, which could create opportunities for massive agricultural production and establish agro-industrial corridors and hubs for the export of food and agro-allied products.
Climate Change Policies And Opportunities
The NABG has been actively involved in climate change policies, collaborating with the National Council for Climate Change and other critical stakeholders. Agricultural activities contribute significantly to Nigeria’s national determined contributions (NDCs), making it crucial to develop implementation frameworks for climate-smart agriculture. Such frameworks, when ratified and implemented, will guide policy efforts and provide tools for monitoring and evaluation. Furthermore, Nigeria has the potential to leverage carbon trading opportunities, enabling communities to adapt and build resilience while benefiting from economic mobilization.
Looking Ahead To The Presidential Roundtable Retreat
As Nigeria eagerly awaits the first presidential roundtable retreat on agribusiness, there is a growing sense of optimism that the country is poised to unleash its agricultural potential. The NABG, along with its partners, aims to present a comprehensive report to the new administration, highlighting the challenges hindering the sector’s development and providing actionable recommendations. By walking the talk and fostering collaboration among stakeholders, Nigeria can pave the way for sustainable growth and unlock the immense opportunities within the agricultural sector.
The agricultural sector plays a crucial role in Nigeria’s economy, and there is a pressing need to overcome the challenges that have hampered its growth. The Nigeria Agribusiness Group, in collaboration with local and global partners, is committed to driving the country’s agricultural development by creating an enabling environment, fostering collaboration, and implementing innovative solutions. The recent pre-presidential technical meeting and the upcoming presidential roundtable summit offer valuable platforms for stakeholders to shape policies, address critical issues, and explore opportunities for sustainable agribusiness. With collective efforts and a renewed commitment to agricultural advancement, Nigeria can embark on a transformative journey towards realizing its agricultural potential and ensuring food security for its citizens.
Business
Senate Passes 2 Tax Reform Bills

The Senate has passed two out of four major tax reform bills, marking a significant milestone in the ongoing overhaul of the nation’s tax administration framework.
The two bills, one seeking to repeal the Federal Inland Revenue Service (Establishment) Act and another to establish the Joint Revenue Board (Establishment) Bill 2025 along with the Nigeria Revenue Service Bill 2025, were passed following a clause-by-clause consideration during the Committee of the Whole and their subsequent third reading on the Senate floor.
President Bola Ahmed Tinubu had in October 2024 transmitted the four tax reform bills to the National Assembly for consideration and passage.
However, the Senate President, Godswill Akpabio, commended the progress, expressing optimism that the reform bills would not only enhance governance but also revolutionise tax collection and distribution across the country.
“These bills will add immense value to governance and transform how taxes are collected and shared in Nigeria,” he said.
He further assured that the remaining two bills would be finalised tomorrow (Thursday), even if it required extended sitting hours.
“We are committed to concluding the outstanding bills tomorrow, even if we have to stay here until 10 p.m.,” Akpabio said.
Business
N1.3bn Lost To Tomato Ebola Outbreak In Kano, Katsina, Kaduna – Minister

Abubakar Kyari, minister of agriculture and food security, says Nigeria has lost over N1.3 billion to the outbreak of Tuta absoluta, a tomato-destroying pest commonly known as tomato ebola, in three states.
Speaking on Wednesday at a capacity-building workshop for financial institutions in Abuja, Kyari said the losses were recorded in Kano, Katsina, and Kaduna states.
He said the outbreak had triggered a sharp increase in the price of tomatoes — with the cost of a 50-kilogram (kg) basket rising from N5,000 to as high as N30,000 — further compounding food inflation and putting pressure on household budgets.
The minister described Tuta absoluta as a fast-spreading invasive pest capable of wiping out entire tomato fields within 48 hours, stressing that the incident exposed the vulnerability of the country’s horticultural systems.
According to Kyari, the crisis underscores the pressing need for effective pest control measures, investment in resilient crop varieties, and stronger support systems for farmers to protect Nigeria’s food supply chains.
“Tomatoes and peppers, essential ingredients in virtually every Nigerian kitchen, serve as baseline commodities for daily cooking,” he said.
“When the prices of these staples spike, they set off a chain reaction that affects the cost of meals across homes, restaurants and food vendors.
“According to the 2024 National Bureau of Statistics (NBS) tomatoes led the food price index with a staggering 320 per cent year-on-year increase, followed by peppers and other produce.
“These spikes disproportionately affect low-income households, underlining the urgent need for more stable production, better storage and accessible finance across the horticulture value chain.”
Kyari described horticulture as the “sleeping giant” of Nigerian agriculture and called for urgent efforts to unlock its full potential through sustainable financing.
He explained that horticulture — which includes the cultivation of fruits, vegetables, herbs, spices and ornamentals — holds far-reaching benefits beyond food production.
The minister said it is a dynamic engine for rural transformation, job creation, improved nutrition and trade diversification.
”With increasing urbanisation and growing awareness of healthy diets, consumer demand for fresh and diverse produce is rising rapidly. Horticulture is well-positioned to meet this demand,” he added.
Despite the challenges in the horticulture sector, Kyari said it remains one of the most promising frontiers for agricultural transformation, offering higher value per hectare, shorter production cycles, and multiple annual harvests ideal for smallholder commercialisation.
He added that the sector offers high employment potential throughout the year, particularly for women and young people, and is closely connected to processing, packaging, retail, and export markets.
“The sector also offers climate resilience through protected cultivation and irrigation systems, urban food access through peri-urban farming and logistics integration,” he said.
“Horticulture is a high-impact, high-return opportunity sitting at the intersection of agriculture, health, industry, and trade.”
The minister outlined the sector’s major contributions to Nigeria’s agricultural transformation, including the diversification of production and income sources, improved food and nutrition security, and job creation with youth involvement.
Kyari also highlighted its role in reducing import dependence, boosting export potential, enhancing climate resilience, and strengthening access to urban markets.
“Crops like tomatoes, pineapples, cucumbers, citrus and plantains have huge domestic demand and are increasingly becoming important commercial crops,” Kyari said.
“On food and nutrition security, horticultural crops are rich sources of vitamins A, C, iron, zinc, and folate nutrients vital for child development, maternal health and disease prevention.
“Scaling up their production and affordability is key to ending malnutrition in all its forms.”
Kyari urged financial institutions to better understand the horticulture value chain — from seed to shelf — and to move beyond generic lending and develop tailored products that aligned with the specific stages of the value chain.
The minister also urged them to develop fit-for-purpose financial products, including seasonal credit lines, equipment leasing, invoice discounting, and trade financing.
Business
Naira Down to N1,610/$ in Parallel Market

The naira yesterday depreciated to N1, 610 per dollar in the parallel market from N1,605 per dollar on Tuesday.
Similarly, the Naira depreciated to N1,612 per dollar in the Nigerian Foreign Exchange Market (NFEM).
Data published by the Central Bank of Nigeria, CBN showed that the exchange rate for the naira rose to N1,612 per dollar from N1,609 per dollar on Tuesday, indicating a N4 depreciation for the naira.
Consequently, the margin between the parallel market and NFEM rate narrowed to N3 per dollar from N4 per dollar on Tuesday.