Nigeria has launched a $500 million agricultural investment fund aimed at boosting food security, attracting private investment and accelerating economic diversification in the oil-rich Niger Delta region.

The initiative, unveiled during the Niger Delta Agricultural Development and Investment Summit, is part of the government’s broader strategy to reduce dependence on crude oil revenues by expanding agricultural production and creating new economic opportunities.

The fund is expected to support key agricultural value chains, including rice, cassava, palm oil, cocoa, aquaculture, horticulture and livestock, while encouraging private sector participation in one of Nigeria’s most resource-rich regions.

Nigeria’s Vice President Kashim Shettima said the initiative reflects the government’s commitment to transforming agriculture into a major driver of economic growth and employment.

For decades, the Niger Delta has been the center of Nigeria’s petroleum industry, generating significant oil revenues for Africa’s largest economy. However, the region has also faced challenges linked to environmental degradation, unemployment and limited economic diversification.

Through the new investment fund, authorities aim to unlock the agricultural potential of the region by financing farmers, supporting agribusinesses and attracting domestic and international investors.

The government expects the fund to operate as a commercial investment platform capable of bringing together public resources, development finance institutions and private capital to develop large-scale agricultural projects.

Nigeria, Africa’s most populous country, has been working to strengthen food production and reduce its vulnerability to global commodity price fluctuations. The agricultural sector remains a key priority as the country seeks to create jobs for its growing young population and build a more diversified economy.

Analysts say the success of the initiative will depend on effective implementation, infrastructure development, access to financing and the ability to integrate smallholder farmers into modern agricultural value chains.

With the $500 million fund, Nigeria is betting on agriculture as a new engine of growth for the Niger Delta and a critical pillar of its post-oil economic strategy.