Nigeria Aims to Boost Agricultural Exports with “Earn From the Soil” Initiative

The Nigerian government has unveiled ambitious plans to elevate the country’s status as a hub for agricultural exports in 2025 through its new “Earn From the Soil” initiative, VOA reported. This program is part of a broader strategy to reduce the nation’s heavy reliance on oil revenue and diversify its economy.

Moses Diego, a 59-year-old retired civil servant with 30 years of farming experience, is one of the beneficiaries of the initiative. On his 10-hectare farm, Diego grows rice, beans, and peanuts. With an investment equivalent to 2000 dollars, he believes he can significantly increase his production, aligning with the program’s goals.

Funded by the Central Bank of Nigeria, the initiative provides low-interest loans to farmers to improve their operations and enhance subsistence farming. However, some local farmers have expressed concerns about bureaucratic hurdles that could delay access to these funds.

Agriculture already plays a vital role in Nigeria’s economy, contributing approximately 22.6% to the nation’s GDP and accounting for about 5.4% of its total exports in the second quarter of 2024, according to the National Bureau of Statistics.

The “Earn From the Soil” initiative aims to build on this foundation, empowering farmers like Diego and positioning Nigeria as a key player in the global agricultural market.