The Agricultural Transformation Agenda, the largest government-led effort to grow agriculture in Nigeria through de-regulation, plans to add 20 million tons of food to domestic supply in addition to 3.5 million job creation by 2015.

Akinwunmi Adesina, the minister of Agriculture and Rural development, represented by Adetunji Oredipe, the technical adviser to the minister, stated that domestic food supply grew by a total of 8.1 million metric tons (MT) in 2012, exceeding the ATA annual target by 70 percent and achieving 41 percent of the total cumulative food supply promised for 2015.

Adesina, stated that the agricultural transformation agenda created 2 million new jobs, exceeding its target by over 200 percent.

The Minister hinted that the new initiative to tackle youth unemployment ‘Nagropreneurs’ will be launched soon, with the goal of creating 760,000 Nagropreneurs by 2015.

Adesina, speaking further at the conference with theme, ‘Making Agro Value Chain Profitable’ said that new incentives to attract foreign and local investors were implemented, netting $8 billion for Nigerian agribusiness, adding that it included investments from Dominion Farms, a U.S. investment company; Cargill, the world’s leading manufacturer of starch and AGCO, the world’s largest manufacturer of Massey Ferguson tractors.

He revealed that more than $1.25 billion was committed towards the agricultural transformation agenda by the World Bank, African Development Bank (AFDB), International Fund for Agriculture Development (IFAD), United States Agency for International Development (USAID), Overseas Private Investment Corporation and the British government’s Department for International Development (DFID), further stating that Bill & Melinda Gates Foundation has selected Nigeria as a policy country for its investments in agriculture, and the Tony Elumelu Foundation, Ford Foundation and UNDP are providing significant technical support facilities.

The Lagos State commissioner for Agriculture, Gbolahun Lawal also advised participants at the event to take up agribusiness or diversify their investments; commending the initiatives of the Lagos State government to boost Agriculture and as well, urging the private sector to join in the queue instead of leaving government alone do it all.

He announced that the state government had empowered 400 youths in the ‘RICE FOR JOB’ initiatives and had increased commercial rice cultivation in Lagos State from 20 hectares to 1,200 hectares.