Kaduna: States across the nation have the potential to significantly boost their internally generated revenue (IGR) by investing strategically in agriculture, according to ActionAid Nigeria (AAN). During a presentation at the ongoing Technical Session of the 47th Regular Meeting of the National Council on Agriculture and Food Security (NCAFS) in Kaduna, Mr. Azubike Nwokoye, a Food Systems Specialist at ActionAid, emphasized the transformative potential of a N15 billion investment in agriculture to yield over N100 billion in additional funds for each state.
According to News Agency of Nigeria, Nwokoye’s presentation, titled ‘Political Economy Analysis on Agriculture Budget Investments Resultant Effects on States Internally Generated Revenue (IGR) and Employment Generation for 2025,’ highlighted the economic benefits of enhancing state investments in agriculture. The theme of the 2025 NCAFS is ‘Food Sovereignty and Food Security, an Era of Renewed Hope.’
Nwokoye outlined that increased investments in specific areas such as post-harvest loss reduction, labor-saving technology, irrigation, and support for women and youth in agriculture could significantly enhance IGR while reducing unemployment. He stressed that these investments must be complemented by other initiatives to achieve a substantial decrease in unemployment rates.
He advocated for budgetary allocations and capital expenditure to focus on strategic investment areas, including extension services, access to credit, and appropriate labor-saving technologies. These investments should also cover processing and storage facilities, training, market access, and other critical areas.
Nwokoye emphasized the importance of channeling budget allocations towards Climate Resilient Sustainable Agriculture (CRSA), irrigation, research and development, monitoring and evaluation, and effective coordination. AAN conducted a political economy analysis to evaluate the impact of agricultural investments on IGR across the 36 states and the Federal Capital Territory (FCT).
He explained that this analysis serves as a tool for states, policymakers, and governors to recognize that agricultural investment is not merely an expense but a strategic move towards generating revenue and reducing unemployment and poverty. For instance, baseline analysis for 2025 shows that states like Gombe could increase their projected IGR from N25.6 billion to an additional N112.98 billion with appropriate investments.
Similarly, Osun’s projected IGR of N109.87 billion could see an increase of N114.08 billion if they invest N15 billion in key areas, alongside other states.