Nigeria took a decisive step away from crude dependency on Wednesday as Vice President Kashim Shettima unveiled a $500 million Niger Delta Agricultural Investment Fund in Abuja.
Framed as a return to the nation’s agrarian roots, the initiative positions the oil‑rich region as the new frontier for food security, job creation, and economic diversification.
With global financiers already on board and projects spanning aquaculture, palm oil, cassava, cocoa, rice, and livestock, Shettima declared the fund “a commercial, returns‑driven vehicle” designed to transform the Niger Delta into Nigeria’s breadbasket and reclaim its historic identity as a land that fed itself before oil dulled the cutlass
Shettima reminded the audience of Nigeria’s historic groundnut pyramids, cocoa estates, and palm produce that once financed schools and hospitals, lamenting that the oil boom “dulled the industry of the cutlass.” He praised the Niger Delta for choosing to lead a new agricultural renaissance rather than rely solely on crude oil wealth.
The Vice President linked the initiative to President Bola Ahmed Tinubu’s 2023 declaration of a food emergency, which birthed mechanisation programmes for 10,000 tractors, local assembly plants, and partnerships with John Deere and other global firms. Already, prices of key food commodities have dropped by as much as 50 per cent, according to the Ministry of Agriculture.
Stakeholders at the summit — including Minister of Regional Development Engr Abubakar Momoh, NDDC executives, and private sector leaders — hailed the fund as a transformative opportunity for youth, women, and farmers across the Niger Delta. They stressed that the region must seize the moment to build enduring partnerships, attract investment, and unlock its agricultural potential.
For Shettima, the message was clear: “The fund is launched, the commitments are aligned, the council is constituted, and the pipeline awaits your conviction.”
