The federal government has pledged its commitment to sustainable agriculture and the agribusiness sector with incentives to support high-level private participation.

Abubakar Kyari, Minister of Agriculture, stated this while delivering a speech at the opening of the third agribusiness roundtable conference in Uyo, Akwa Ibom State, on Monday.

Kyari said the federal government has deliberately designed agricultural investment incentives to ensure a stable and viable economic climate for both local and foreign investment.

According to him, while some of these incentives come in the form of tax holidays, exemptions, and reliefs, others leverage specific government policies, company performance, and relevant international investment treaties.

He said, “One of the cardinal reforms in the agricultural sector is turning agriculture into a business, moving away from the primordial approach of treating it as a development programme.

“We are improving agricultural value chains to unlock opportunities for our farmers, with a special focus on areas where we have a comparative advantage.”

He said this aligns with President Bola Tinubu’s vision, which includes declaring a state of emergency on food security to drive an agricultural revolution that strengthens food and nutrition security while encouraging industrialisation for wealth and job creation.

He added, “We are resolute in delivering enabling policies and programmes, in line with the ministry’s goals assigned by President Tinubu to ensure Nigerians are food-secured.”

Kyari stressed the federal government’s commitment to collaborating with relevant stakeholders to build an agricultural and agribusiness economy capable of delivering sustained prosperity, meeting domestic food and nutrition security goals, generating wealth, creating jobs, and attracting private investment.

He explained that the government is working with states and the organised Private Sector to support youth and women with access to technical, entrepreneurial, business, and marketing skills.

He expressed hope that the conference would create ample opportunities to strengthen the agribusiness sector and contribute to the desired growth, ensuring food security, employment generation, and economic diversification for national transformation and security.

In his welcome address, the Akwa Ibom State Commissioner for Trade and Investment, John Etim, noted the state government’s investment in agriculture, noting that the Arise Agenda, the state’s economic blueprint, has added value to development, with agriculture given top priority.

The theme of the three-day conference, tagged Uyo 2024, is Unlocking Agribusiness Opportunities for Economic Sustainability. The event is being attended by stakeholders in the agriculture sector, including banks, financial institutions, farmers, and private sector operators.