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Agriculture and its Potentials for Nigeria’s Economic Diversification

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By Diana Tenebe, Chief Operating Officer, Foodstuff Store

Nigeria is a nation that is blessed with arable land and a teeming youthful population. For so long the nation has been tied to the fortunes of crude oil. Oil revenues have dominated the sustenance of economic development. The overall annual GDP growth for Nigeria in 2024 is reported at 3.40%.

The oil sector’s contribution to real GDP in Q4 2024 was 4.60%, with an annual growth rate of 5.54%. The agriculture sector contributed 24.64% to real GDP in Q4 2024, and 20.97% to aggregate nominal GDP for the full year, though its growth was more modest at 1.2% to 1.76% across different quarters. The non-oil sector, which includes agriculture, contributed a substantial 95.40% to real GDP in Q4 2024, indicating a decreasing reliance on oil as the main economic driver.

Nigeria’s economy is primarily driven by its non-oil sectors, with agriculture serving as a significant foundation, even with its ongoing productivity and security hurdles. There’s optimism that agriculture could spearhead the nation’s economic diversification in the future, especially if it’s strategically developed to generate foreign exchange and government revenue.

Agriculture was the bedrock of the Nigerian economy before the oil boom. Agriculture was the undisputed mainstay of Nigeria’s economy, contributing over 60% to the Gross Domestic Product (GDP) and employing more than 70% of the population. Regions specialised in cashcrops like cocoa, palm oil, groundnuts, and rubber making Nigeria a significant global exporter. The revenue generated from these agricultural activities fueled infrastructural development, education and social amenities across the country. The oil boom in the 1970s led to a neglect of the agricultural sector and fostered an over-reliance on petrodollars and invariably led to the stifling of the development of a diversified economy.

Just weeks into office in July 2023, President Bola Ahmed Tinubu declared a national emergency on food security, signaling a commitment to transforming agriculture into a modern, productive, and resilient engine of growth. Key initiatives include the immediate release of fertilizers and grains from national strategic reserves, a harmonisation of efforts between the Ministry of Agriculture and the Ministry of Water Resources to enable all-season farming through expanded irrigation, and the proposed establishment of a National Commodity Board to stabilize food prices and strengthen reserves. The administration of President Bola Tinubu has embarked on significant reforms to position agriculture as an economic tool to drive diversification. The efforts are constantly challenged by the pervasive violence of bandits on Nigeria farmers.

One of the flagship programs is the Agro-Pocket Initiative under the National Agricultural Growth Scheme, targeting the cultivation of 750,000 hectares for staple crops like rice, maize, wheat, and cassava, providing targeted support and input vouchers to farmers. To cushion the effects of inflation, the administration also announced a 150-day suspension of duties and tariffs on essential food imports and facilitated the import of significant quantities of maize and wheat for small-scale processors. Furthermore, a new National Agricultural Extension Policy aims to deliver demand-driven, ICT-enabled, and market-oriented extension services, moving away from outdated methods.

The ambitious agricultural agenda faces a formidable adversary: widespread banditry and insecurity. Across various regions, particularly in the food-producing states, farmers are increasingly subjected to violent attacks, kidnappings, and extortion. These acts of violence have devastating consequences, forcing many farmers to abandon their farmlands, reducing cultivated areas, and disrupting the entire agricultural value chain. The fear of attack not only deters new investments but also jeopardizes the livelihoods of existing farmers, leading to reduced agricultural output and escalating food prices. The Centre for Journalism Innovation and Development (CJID) recently highlighted that “No Farmer, No Food: Attacks on Farmers Fuel Nigeria’s Hunger Crisis,” underscoring the direct link between insecurity and food insecurity.

The Tinubu administration acknowledges this critical challenge. The National Security Adviser (NSA), Mallam Nuhu Ribadu, has reiterated the government’s commitment to returning displaced farmers to their communities and farms, emphasizing that sustainable peace cannot be achieved through kinetic responses alone. There’s a recognition that addressing the root causes of violent extremism, such as poverty and lack of opportunity, through inclusive, whole-of-government, and whole-of-society solutions, including integrated agricultural approaches, is crucial. The approval of Forest Guards is also seen as a transformative measure to enhance security for farmers.

Beyond the immediate crisis of insecurity, Nigeria’s agricultural sector still grapples with a myriad of systemic challenges. These include poor access to finance, with many farmers relying on informal lenders at exorbitant rates; high production costs, exacerbated by fuel subsidy removal; inadequate infrastructure, leading to significant post-harvest losses; and the impacts of climate change, such as erratic rainfall patterns and floods. Experts advocate for sustained investment in agricultural infrastructure, including irrigation systems, storage facilities, and rural road networks, to reduce post-harvest losses and improve market access.

Despite these hurdles, the potential for agriculture to drive Nigeria’s economic diversification remains immense. By focusing on value addition through agro-processing, leveraging modern agricultural technology (precision farming, irrigation, biotechnology, satellite imagery for yield prediction), diversifying crop production beyond traditional cash crops to include high-demand items, and investing in livestock and aquaculture, Nigeria can unlock significant economic growth. Public-private partnerships and accessible financial solutions, coupled with robust policy reforms, are vital to support smallholder farmers and attract necessary investments.

The journey beyond oil will be long and arduous, but agriculture offers Nigeria a tangible and sustainable path to economic resilience. President Tinubu’s reforms demonstrate a clear intent, but their success hinges on the government’s ability to effectively tackle the escalating violence against farmers. Without a secure environment, the seeds of diversification will struggle to take root, and the promise of a thriving agricultural sector will remain elusive. Only when farmers can work their lands in peace will agriculture truly become the robust engine Nigeria needs to diversify its economy and secure a prosperous future for its citizens.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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FG, World Bank Launch $65m SPESSE Funding for 24,000 Nigerians

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Federal government, in partnership with the World Bank, has launched a fresh $65 million funding phase of the Sustainable Procurement, Environmental and Social Standards Enhancement (SPESSE) project aimed at benefiting more than 24,000 Nigerians through professional training and institutional capacity development.

FG, World Bank Launch $65m SPESSE Funding for 24,000 Nigerians

The initiative, coordinated by the National Universities Commission (NUC), is designed to strengthen procurement systems, environmental management and social standards across public and private institutions, while promoting transparency, accountability and sustainable development practices nationwide.

Abdullahi Ribadu, executive secretary of the Commission, disclosed this in Abuja during the signing of performance contracts for the additional SPESSE financing. He explained that the intervention builds on the gains of the initial $80 million SPESSE project, which became effective in 2021.

According to Ribadu, the programme has significantly improved institutional frameworks and developed professional expertise in key governance sectors. He noted that the initiative was introduced to address the shortage of qualified professionals in procurement, environmental management and social standards within both public and private institutions.

He said: “With the support of the World Bank and under the coordination of the NUC, six centres of excellence were established across the six geopolitical zones to provide sustainable capacity building in these critical sectors”.

Ribadu stated that the participating universities were selected through a transparent and competitive process based on institutional readiness, quality assurance and sustainability.

He added that the institutions have continued to produce skilled manpower capable of advancing transparency, environmental responsibility and inclusive national development.

He described the contract signing ceremony as a renewed commitment to accountability, sustainability and institutional excellence, noting that the centres have recorded major achievements, including the introduction of specialised academic programmes ranging from short courses to undergraduate and postgraduate degrees.

The NUC boss further disclosed that three of the six centres have already commenced PhD programmes, while the remaining centres are expected to begin by July 2026.

He added that under the new funding phase, the Commission targets at least 60 PhD graduates, enrolment of 60 foreign students, staff internships and expanded student exchange programmes with international institutions.

Also speaking, Adebowale Adedokun, director-general, Bureau of Public Procurement (BPP), said the project has so far trained more than 2,700 officers from both the public and private sectors to improve procurement competence nationwide.

He said the next phase would support the rollout of Nigeria’s electronic procurement system and expand online capacity-building programmes for policymakers and small and medium-scale enterprises involved in managing public funds.

On his part,  Ishtiak Siddique, World Bank Task Team Leader for SPESSE, revealed that more than 40,000 participants had benefited from training under the original project, with over 4,000 certified in procurement, environmental and social standards.

Siddique said the additional funding would focus on strengthening the capacity of federal, state and local government agencies to improve development outcomes and service delivery, stressing that sustainability remained central to ensuring continuity beyond donor support.

For her part, Prof. Folasade Ogunsola, Vice-Chancellor, University of Lagos,  reaffirmed the institution’s commitment to advancing professional capacity development under the SPESSE framework through postgraduate training, institutional ownership and international collaborations.


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Kaspersky Challenges IT Leaders with Next-generation Cyber Protection Simulations

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Kaspersky has expanded its Kaspersky Interactive Protection Simulation (KIPS) with new advanced cyberattack scenarios tailored specifically for IT organisations.

The update introduces realistic simulations of deepfake-enabled fraud, supply chain compromise, trusted relationship attacks and destructive wiper malware, helping businesses test their preparedness against today’s complex threat landscape.

IT companies remain one of the most attractive targets for cybercriminals. As attackers increasingly combine social engineering, supply chain manipulation and ransomware tactics, organisations require hands-on, strategic training that reflects real-world attack dynamics.

Kaspersky Interactive Protection Simulation is designed to bridge the communication gap between CISOs, IT teams and top management. By immersing participants in realistic cyber crisis scenarios, KIPS demonstrates the operational and business impact of attacks in an accessible, engaging format.

Real-world attacks in a realistic simulation environment

The updated IT-focused scenario in KIPS exposes participants to modern attack techniques observed by Kaspersky experts in active malicious campaigns targeting the IT sector.

Participants may face:

Binary Backdoor in the Build – a supply chain attack that compromises software during signing, packaging or distribution stages. Once deployed, the tampered product enables data theft, persistent remote access and the compromise of trusted customers downstream.

DeepFake Boss – a social engineering campaign leveraging AI-generated video and voice impersonations of corporate executives to manipulate finance teams into initiating unauthorised payments.

Trusted Relationship Attack (VPN) – exploitation of third-party access and remote connectivity tools to infiltrate corporate environments through contractors or service providers.

Wiper Attack (Babuk) – a destructive malware scenario based on leaked Babuk ransomware code. This scenario tests resilience against irreversible data corruption combined with ransomware deployment. In the simulation, if players fail to contain the attack in time, data becomes encrypted, forcing a complete rebuild from scratch.

IT companies can now choose between two dedicated attack scenarios, testing coordination, crisis management and decision-making under pressure. KIPS is available in both live (up to 100 participants) and online (up to 1,000 trainees) formats and provides detailed analytics on participants’ decisions, team coordination and benchmarking against previous sessions.

“To stay secure, organisations need a layered defence strategy that combines technology, processes and people. But investing in tools alone is not enough. Cyber resilience depends on awareness, coordination and the ability to respond effectively under pressure,” comments Svetlana Kalashnikova, Security Awareness expert at Kaspersky.

“Kaspersky Interactive Protection Simulation, a part of a comprehensive Security Awareness offering, helps organisations experience real-world attack scenarios in a controlled environment, strengthening decision-making, cross-team collaboration and executive understanding of cybersecurity risks. By transforming complex threats into practical learning experiences, we empower companies to build stronger, more resilient security cultures.”


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National Assembly to Review National Data Protection Act

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Sen. Afolabi Salisu, the Chairman, Senate Committee on ICT and Cyber Security, has said efforts were ongoing to review the National Data Protection Act (2023) to meet emerging threats associated with technological advancement.

Salisu disclosed this on Tuesday at the opening of a three-day workshop, on Data Protection Awareness Promotion organised for the Joint National Assembly Committee on ICT by Nigeria Data Protection Commission (NDPC) and Ampersand Development Partners.

He said that since the enactment of the Act in 2023, there have been new developments such as Artificial Intelligence (AI) and the United Nations Convention on Cyber Crimes.

The lawmaker said that there is a nexus between data governance and cyber crimes hence the need to look at the Act and strengthen the handshakes where necessary.

According to him, we need to ensure the security of our country, particularly in the cyber space and our data governance as well as technology advancement like AI.

“As legislators, we need to have knowledge on data privacy and protection for us to be able to effectively legislate in that area.

“You cannot legislate in an area that you are not sufficiently knowledgeable in; this workshop affords us the opportunity to build our capacity to understand modern principles of data protection and to be in position to review the National Data Protection Act

“It has been three years down the line, how has this law addressed the need of the nation, particularly given the emerging technologies and how it compares with other other countries.

“At the end of this exercise, we would be able to come up with a roadmap, a timeline, with a view to review the National Data Protection Act,” he said.

The lawmaker tasked all Nigerians on private data protection saying that it is the duty of all citizens to ensure safety of their data.

He said that many free public WiFi and Apps are not always free as users pay with their data and adverts without knowing it.

Also speaking, the Chairman, House Committee on ICT and Cyber Security, Rep. Stanley Olajide (APC- Oyo) said that data is gold and Nigeria’s next prosperity was not going to be oil but data.

He said that no investor would bring foreign funds or capital into Nigeria, without making sure that the right data protection law is in place, which Nigeria has.

“Whatever data that we have is our sovereign wealth, is something that belongs to us. How do we protect it? We have to make sure that the right legal frameworks are put in place, so that those data, once bridged, you can actually hold entities, corporation, the countries responsible when they’ breach your data law.

“In the U.S., they have their data law; if you put anything in their cloud, is owned by the United States. So we also have to have something here.

“Anything that resides here in Nigeria and is generated here must be home and protected by our country; so we are put in the right laws and framework in place just to do that,” he said.


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