By Vivian Emoni
The Abuja Chamber of Commerce and Industry (ACCI) says agriculture has the potential to lift millions of Nigerians out of poverty and drive inclusive economic growth.
Prof. Adesoji Adesugba, First Deputy President of ACCI, said this on Tuesday in Abuja while briefing the newsmen ahead of the Agricultural Mechanisation and Export of Quality Products in Africa (AGROMEQA Expo 2026).
The expo 2026 is scheduled to hold from Oct. 15–16.
Adesugba emphasised the need for stronger policies and investments to boost agriculture sector.
He said that agriculture accounted for about 23.16 per cent of Nigeria’s real Gross Domestic Product (GDP), underscoring its importance to national economic development.
He said the sector generated N11.87 trillion in real economic output during the first quarter of 2026, compared with N11.51 trillion recorded during the corresponding period of 2025.
The sector also grew by 3.15 per cent year-on-year during the first quarter, compared with 0.07 per cent growth recorded in the corresponding period of 2025.
“This is a significant rebound and shows that agriculture can respond strongly when conditions improve and when we get our policies right.
“Crop production remained the dominant component of the sector, generating approximately N8.9 trillion during the first quarter of 2026.
“Agriculture has a great multiplier effect and can help us lift millions of people out of the poverty situation we currently find ourselves in,” he said.
Adesugba said the sector had also created considerable wealth over the past five years, producing millionaires and billionaires through investments across agricultural value chains.
He identified palm oil production as a profitable area for investment, adding that Nigeria needed stronger policies to increase output and reduce dependence on imports.
He said the country should urgently expand agricultural production to meet growing food demand, driven largely by rapidly increasing population.
“It is we either feed ourselves or go back to slavery. Nobody wants to go hungry; we must be able to feed our children,” he said.
Adesugba said Nigeria should strengthen domestic food production and exports rather than continued reliance on imports to meet its food requirements.
He said ACCI and its partners were promoting initiatives, including agricultural expos, to stimulate investment, improve productivity and support the development of the sector.
According to him, the upcoming expo is one of the many initiatives aimed at contributing to the development of agriculture by ACCI and its partners.
Adesugba identified insecurity as a major challenge to agricultural production and investment across the country.
“Insecurity affects agriculture and virtually everything that we do. It is an issue that we must continue working together to address,” he said.
He called for sustained collaboration among government, the private sector and other stakeholders to accelerate agricultural growth, create jobs and strengthen national food security. (NAN)
Edited by Uche Anunne