Vice President Kashim Shettima yesterday launched a $500 million Niger Delta Agricultural Investment Fund aimed at transforming the region into a major agricultural hub and reducing its dependence on crude oil.

 

The Vice President, while unveiling the fund at the Niger Delta Agricultural Development and Investment Summit 2026 at the Banquet hall, Abuja said the fund would operate as a commercially viable financing vehicle covering the entire agricultural value chain, including aquaculture, palm oil, cassava, cocoa, rice, horticulture, marine resources and livestock.

 

He said the initiative had already attracted funding commitments from development partners, including the World Bank, African Development Bank, Islamic Development Bank, European Bank for Reconstruction and Development, as well as private and commercial financiers.

 

According to him, the fund will be overseen by the newly inaugurated Niger Delta Agricultural Development and Investment Council, which he chairs, while the Niger Delta Development Commission (NDDC) will serve as its secretariat.

 

Shettima described the initiative as a strategic move to diversify the region’s economy through agriculture, adding that it would coordinate existing funding commitments and mobilise additional investments into the region’s agricultural sector.

 

He said the launch of the investment fund, the coordination of development partners’ commitments and the inauguration of the governing council represented concrete steps towards attracting global capital to the region’s agricultural sector.

 

The Vice President urged stakeholders to remain committed to implementing the initiative, expressing confidence that the investment would boost food production, create employment and drive sustainable economic growth in the Niger Delta and across the country.

 

The Managing Director of the Niger Delta Development Commission (NDDC), Dr Samuel Ogbuku, in his remarks, said the commission is positioning agriculture as a key driver of economic diversification in the Niger Delta through the newly launched $500 million Niger Delta Agricultural Development Investment Fund.

 

Ogbuku said the region’s economy was sustained by fishing and farming before the discovery of crude oil, but agricultural activities declined following the growth of the oil and gas industry.

 

He said the summit was designed to produce tangible outcomes rather than serve as a platform for discussions alone, noting that the initiative aligns with President Bola Tinubu’s commitment to diversifying both the Niger Delta and the national economy.

 

According to him, the investment fund will be commercially managed to finance opportunities across the agricultural value chain and attract both local and international investors.

 

Describing the Niger Delta as a secure and viable investment destination, Ogbuku called on stakeholders to support the initiative, expressing optimism that the summit would mark the beginning of a new phase of agricultural development and economic prosperity for the region.

 

The Senior Special Assistant to the President on Agribusiness and Productivity, Dr Kingsley Uzoma, said the Niger Delta Agricultural Development and Investment Summit was convened to attract investment and partnerships needed to unlock the region’s vast agricultural potential.

 

He said the summit was in line with President Bola Tinubu’s directive to expand non-oil investments, accelerate agricultural development and position the Niger Delta as a major contributor to Nigeria’s food security and economic growth.

 

Uzoma said the summit was designed to move beyond discussions by providing a practical framework for mobilising capital, attracting investment and developing bankable agricultural projects across the region.