The Abuja Chamber of Commerce and Industry (ACCI) has described agriculture as a critical sector capable of lifting millions of Nigerians out of poverty and promoting more inclusive economic growth.
The First Deputy President of ACCI, Adesoji Adesugba, stated this on the 2nd of September in Abuja while briefing pressmen ahead of the Agricultural Mechanization and Export of Quality Products in Africa (AGROMEQA Expo 2026), scheduled for October 15th and 16th.
Adesugba called for stronger government policies and increased investment to unlock the sector’s full potential.
He said agriculture contributed 23.16% to Nigeria’s real Gross Domestic Product (GDP), underscoring its importance to the national economy.
According to him, the sector generated N11.87 trillion in real economic output in the first quarter of 2026, compared with N11.51 trillion recorded in the corresponding period of 2025.
He added that agriculture recorded year-on-year growth of 3.15% in the first quarter of 2026, up from 0.07% in the same period of the previous year.
“This is a significant rebound and shows that agriculture can respond strongly when conditions improve and when we get our policies right,” he said.
Adesugba noted that crop production remained the dominant component of the sector, generating approximately N8.9 trillion during the quarter.
“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.
The ACCI official also said the sector had created substantial wealth over the past five years, producing millionaires and billionaires through investments across various agricultural value chains.
He identified palm oil production as an area with significant investment potential, urging the government to implement policies that would increase domestic production and reduce the country’s dependence on imported palm oil.
Adesugba also called for an urgent expansion of agricultural production to meet rising food demand, which he attributed largely to Nigeria’s rapidly growing population.
“It is either we feed ourselves or go back to slavery. Nobody wants to go hungry; we must be able to feed our children,” he said.
He urged the country to strengthen its capacity to produce food locally while expanding agricultural exports rather than relying heavily on imports to meet domestic consumption needs.
According to him, ACCI, in collaboration with its partners, was supporting initiatives such as agricultural exhibitions to attract investment, improve productivity and promote sustainable development across the sector.
He described the forthcoming AGROMEQA Expo as part of broader efforts by the chamber and its partners to advance agricultural development.
However, Adesugba identified insecurity as one of the major challenges undermining 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 stronger and sustained collaboration among the government, private sector and other stakeholders to expand agricultural production, create jobs and strengthen Nigeria’s food security.
