Vice President Kashim Shettima has officially launched the $500 million Niger Delta Agricultural Investment Fund (NDAIF), describing it as a landmark initiative aimed at strengthening food security, attracting private capital and transforming the Niger Delta into one of Nigeria's leading agricultural investment destinations.
The fund was unveiled during the Niger Delta Agricultural Development and Investment Summit in Abuja, jointly organised by the Office of the Vice President and the Niger Delta Development Commission (NDDC).
The initiative forms part of President Bola Tinubu's broader economic diversification agenda, which seeks to reduce Nigeria's dependence on crude oil by expanding investment in agriculture and agro-industries.
Speaking at the summit, Shettima said agriculture remains the foundation of national prosperity and political stability, stressing that nations capable of feeding their people are better positioned to achieve sustainable economic growth.
He noted that the new investment vehicle would mobilise public and private capital across the agricultural value chain while unlocking the Niger Delta's vast farming potential.
According to the Vice President, the fund will support strategic sectors including aquaculture, palm oil, cassava, cocoa, rice, horticulture, livestock and marine resources, with financing expected from multilateral development institutions, commercial investors and private-sector partners.
Shettima explained that the initiative is designed as a commercially managed investment platform rather than a traditional government intervention programme, allowing it to attract long-term capital while creating jobs, improving productivity and strengthening regional food systems.
The Vice President also inaugurated the Niger Delta Agricultural Development and Investment Council, which will coordinate implementation of the initiative alongside state governments, development partners and private investors.
The council is expected to drive policy coordination and ensure effective delivery of projects financed through the fund.
Government officials said the summit reflects a renewed commitment to repositioning the Niger Delta beyond oil production by leveraging its fertile land, waterways and agricultural resources to stimulate inclusive economic growth.
They added that the initiative aligns with the Federal Government's declaration of food security as a national priority since 2023.
Development partners, including the World Bank, African Development Bank, Islamic Development Bank and other international financiers, have indicated support for the initiative, providing confidence that the fund can mobilise additional investment for large-scale agricultural projects across the region.
Analysts believe the $500 million fund could significantly improve agricultural productivity, create employment opportunities, encourage agro-processing industries and strengthen Nigeria's long-term food security if implemented effectively and supported by sustained private-sector participation.