Opportunities

The policy objectives for the sector include:

• doubling the growth rate of the integrated agriculture sector thereby increasing the contribution of the sector to the national GDP;
• significantly reduce food imports and become a net exporter of key agricultural products;
• integrating agricultural commodity value chains into the broader supply chains of domestic and foreign industries, driving job growth, increasing the contribution of agriculture to wealth creation, and enhancing the capacity of the country to earn foreign exchange from agricultural exports;
• becoming self-sufficient in tomato paste, rice, and wheat;
• promoting the responsible use of land, water and other natural resources;
• facilitating food security, food safety and quality nutrition; and
• creating a mechanism for improved sector governance by the supervising government agencies.

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• Mechanized crop production such as rice, maize, millet, cassava, sugar cane, tomato and the cash crops such as cocoa, palm kernel, rubber, among others.
• Food processing and preservation across the value chains of the sector
• Beef processing and packaging
• Fruit juice/canned fruits
• Beverages and confectionary
• Cash crop processing – cocoa, palm kernel, rubber, among others

• • Exploitation of timber and wood processing activities
  • Livestock cultivation – dairy and aquaculture (fisheries) development

• Horticulture development.
• Agricultural input supplies and machinery.
• Water resources development especially for irrigation and flood control infrastructure.
• Commodity trading and transportation.
• Development and fabrication of appropriate small scale mechanized technologies for on-farming processing and secondary processing of agricultural produce.
• Development of private irrigation facilities.
• Production of improved seeds and agro-chemicals.
• Production of veterinary drug, vaccine, chemical, feeds and feeds ingredients.
• Market Research.

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• Income tax relief for a period of three years and which can be extended for a period of one year and thereafter another one year or for one period of two years – Pioneer Status Incentives
• Zero Import Duty: Zero percent import duty tariffs (custom, excise and value added) for import of agricultural equipment and agro-processing equipment.
• Increased tariff with additional levy on any commodity that Nigeria produce (rice, starch, sugar, wheat, tomato etc.) to promote domestic production and local content.
• Exemption of interest from tax on loans granted to agricultural activities.
• Exemption from Value Added Tax (VAT).
• Access to Agricultural Credit Guarantee Scheme which is up to 75%.
• Avoidance of double taxation agreement which eliminates double taxation with respect on income and capital gains.
• Investment promotion and protection agreement provides reciprocal baseline protections for investments.
• Nigeria qualifies for the Africa Growth and Opportunity Act (AGOA).

For more information, please refer to the Compendium of Investment Incentives in Nigeria.[/vc_column_text][vc_column_text]

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• Availability of arable land across the country including 3.14 million hectares of irrigatable land;
• Favourable weather conditions that support all-year-round agricultural activities;
• Known and mapped-out soil characteristics across the country to guide crop cultivation;
• Supportive government policy that is geared towards encouraging mechanized farming and agribusiness; and
• Huge demand gap between the supply of agricultural produce and the industrial activities.

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