Nigerian agricultural policy rests on the National Agricultural Technology and Innovation Policy 2022–2027 and the National Agri-Food Systems Investment Plan 2026–2027. Under the 1999 Constitution agriculture is largely a concurrent subject of the federation and the 36 States, with a purchasing authority for the export of designated agricultural produce reserved to the federation, and the Land Use Act of 1978 vests land in the State Governors. Input regulation rests on the seed, fertiliser and plant variety Acts of 2019 and 2021, finance on the CBN Act 2007, BOFIA 2020, the 2017 collateral and credit reporting Acts and the 2025 securities and insurance Acts, and climate on the Climate Change Act 2021.
This note explains how the entries are linked. Recent Acts link to gazette copies hosted by the regulator concerned, by FAOLEX or by the Gazettes.Africa archive, which print the Act number, the dates of passage and assent and the commencement date. Older Acts link to the PLAC compendium of the Laws of the Federation of Nigeria 2004, which prints commencement dates but not assent dates. Where a date could not be read, the entry says so.
Milestones in agricultural and agri-finance policy
Constitution of the Federal Republic of NigeriaConstitution of 1999 (as amended)1999
Agriculture is largely a concurrent subject. Item 62(b) of the Exclusive Legislative List reserves to the National Assembly the establishment of a purchasing authority to acquire for export or sale in world markets such agricultural produce as it designates22. Under the Concurrent Legislative List the National Assembly may establish agricultural research centres and institutions for the promotion or financing of agricultural projects, and each State House of Assembly may make laws for the agricultural development of the State, agriculture including fishery22. Local government councils participate in the development of agriculture under the Fourth Schedule, and section 315(5)(d) entrenches the Land Use Act, which can only be changed by the procedure for amending the Constitution22.
Land Use ActCap. L5 LFN 2004 (Decree No. 6 of 1978)Gazette Extraordinary No. 14 of 29 Mar 1978, commenced 29 Mar 1978
The Act vests all land in each State in the Governor of that State232. A single customary right of occupancy may not exceed 500 hectares for agricultural purposes or 5,000 hectares for grazing without the Governor's consent, and the assignment or mortgage of a statutory right of occupancy requires the Governor's prior consent, which affects the use of land as collateral23.
National Agricultural Land Development Authority Act1992 No. 92 (LFN 2004)Commenced 7 May 1992
The Act establishes in the Presidency the National Agricultural Land Development Authority to provide strategic public support for land development24. In April 2024 the National Council on Privatisation considered transferring NALDA land titles to the balance sheet of the Bank of Agriculture25. The current status of the Authority was not verified.
Agricultural Research Council of Nigeria ActLFN 2004Commenced 26 May 1999
The Council advises the Federal Government on agricultural research, training and extension, prepares master plans and coordinates the national agricultural research institutes26.
Water Resources Act1993 No. 101 (LFN 2004)Commenced 23 Aug 1993
The Act vests the use and control of surface and groundwater and of watercourses affecting more than one State in the Government of the Federation30. The River Basin Development Authorities operate under the Federal Ministry of Water Resources and Sanitation31.
National Agricultural Seeds Council ActAct No. 21 of 2019Commencement printed as 24 May 2019, assented 24 Jun 2019, Gazette No. 142B of 16 Sep 2019
The Act repeals the National Agricultural Seeds Act (Cap. N5) and empowers the National Agricultural Seeds Council to regulate the registration of released varieties and the certification, sale, import and export of seed and to protect farmers from poor-quality seed9.
Plant Variety Protection ActAct No. 5 of 2021Assented and commenced 21 May 2021, Gazette No. 84 of 26 May 2021
The Act establishes a Plant Variety Protection Office in the National Agricultural Seeds Council and grants breeders' rights for 20 years, or 25 years for trees and vines13. It was passed by the House of Representatives on 17 December 2020 and the Senate on 3 March 202113.
National Fertilizer Quality (Control) ActAct No. 23 of 2019Assented and commenced 15 Oct 2019, Gazette No. 115 of 18 Dec 2019
The Act protects farmers against nutrient deficiencies, adulteration, misleading claims and short weight, prohibits the sale of unbranded or misbranded fertilizer, and makes the fertilizer department of the Federal Ministry of Agriculture the prescribed authority10. It repealed the National Fertilizer Board Act and the Fertilizer (Control) Act10.
Nigeria Agricultural Quarantine Service (Establishment) Act2018 (agency's naming)Assent and commencement dates not printed in the copy, no gazette reference found
The Act establishes the Nigeria Agricultural Quarantine Service to prevent the entry, establishment and spread of exotic pests and diseases of plants, animals and aquatic resources34. The copy opened prints no assent or commencement date, and the agency lists it as the 2018 Act35.
Animal Diseases (Control) Act2022Assent announced by the State House on 8 Apr 2022
The Act repeals the Animal Diseases (Control) Act, Cap. A17, and provides for the prevention, detection, control and eradication of transboundary and zoonotic animal diseases and the regulation of veterinary medicines and medicated feeds36. The gazette was not seen.
The Schedule as compiled in LFN 2004 prohibits the export of beans, cassava tuber, maize, rice, yam tuber and their derivatives and of all imported food items38. Later customs prohibition lists were not checked.
Produce (Enforcement of Export Standards) Act1959 No. 21 (LFN 2004)Commenced 1 Dec 1959
The Act provides for the grading and quality standards of export produce, enforced by the Federal Produce Inspection Service under the Federal Ministry of Industry, Trade and Investment3940.
Federal Competition and Consumer Protection ActAct No. 1 of 2019Assented and commenced 30 Jan 2019, Gazette No. 18 of 1 Feb 2019
The Act establishes the Federal Competition and Consumer Protection Commission and Tribunal and repeals the Consumer Protection Council Act43. It was passed by the House of Representatives on 29 March 2018 and the Senate on 5 December 201843.
Central Bank of Nigeria ActAct No. 7 of 2007Commenced 25 May 2007, Gazette No. 55 of 1 Jun 2007
The Act sets the CBN's objects of monetary and price stability and a sound financial system4. Section 31 on the Bank's developmental function allows it to hold shares in bodies set up to stimulate financial or economic development, and the CBN cited section 31 as the basis of the Anchor Borrowers' Programme444.
Banks and Other Financial Institutions ActAct No. 5 of 2020Assented and commenced 12 Nov 2020, Gazette No. 183 of 17 Nov 2020
The Act repealed BOFIA Cap. B3 and names the Bank of Agriculture and the Development Bank of Nigeria among the specialised banks11. Banks may, with CBN approval, invest in agricultural enterprises up to 10% of shareholders' funds per investment, and the Act establishes a special tribunal for the recovery of eligible loans11.
Secured Transactions in Movable Assets ActAct No. 3 of 2017Assented and commenced 30 May 2017, Gazette No. 58 of 31 May 2017
The Act establishes the National Collateral Registry in the CBN and allows security interests over movable assets, defining farm products to include crops grown or to be grown, fish stocks, livestock, seeds and fertilizers6. The CBN states that the registry portal was launched in May 2016 to facilitate lending to smallholder farmers and MSMEs45.
Agricultural Credit Guarantee Scheme Fund ActLFN 2004 (Decree No. 20 of 1977, amended 1993 No. 32)Commenced 8 Mar 1977
The Fund guarantees bank loans for agricultural purposes up to 75% of the loan, with the CBN as managing agent and a capital in the LFN 2004 text of NGN 100 million contributed 60% by the Federal Government and 40% by the CBN1. The CBN accounts trace the Fund to Decree No. 20 of 197746. It guaranteed 35,227 loans worth NGN 10.44 billion in 202447.
The Act establishes NAIC to insure agricultural projects against selected natural hazards, provides a premium subsidy of up to 50% shared between the Federal Government (37.5%) and the States (12.5%), and requires farmers who borrow for agriculture to take out cover3. The Federal Government bears losses above 200% of premium income3. The 2025 insurance reform Act did not repeal it20.
Investments and Securities ActAct No. 2 of 2025Assented and commenced 25 Mar 2025, Gazette No. 19 of 2 May 2025
The Act repealed the Investments and Securities Act of 200719. Its Part XV requires commodity exchanges to be registered with the SEC and provides for the registration of warehouses and collateral managers and for warehouse receipts as evidence of proprietary rights, which may be negotiable and traded19.
Nigerian Insurance Industry Reform ActAct No. 14 of 2025Assented and commenced 31 Jul 2025, Gazette No. 146 of 29 Aug 2025
The Act consolidates insurance law and repeals the Insurance Act 2003 and four other Acts20. It sets minimum capital of NGN 15 billion for non-life, NGN 10 billion for life and NGN 35 billion for reinsurance business, and lists agricultural insurance as a non-life class outside the NAIC schemes20.
Review of minimum capital requirements for banksCBN circular FPR/DIR/PUB/CIR/002/00928 Mar 2024, compliance by 31 Mar 2026
The CBN raised the minimum paid-in capital to NGN 500 billion for commercial banks with international authorisation, NGN 200 billion national and NGN 50 billion regional, with 24 months to comply from 1 April 202417. By November 2025, 16 banks had fully complied, and on 1 April 2026 the CBN announced the conclusion of the programme, under which banks raised NGN 4.65 trillion of new capital5051.
Operational changes to the foreign exchange marketCBN press release14 Jun 2023
The CBN abolished the segmentation of the foreign exchange market, merged all segments into the Investors and Exporters window under a willing buyer, willing seller model, and ended the RT200 and Naira4Dollar schemes from 30 June 202315. The naira moved from 460 per dollar at the end of 2022 to 899.89 at the end of 202352.
Revised Anchor Borrowers' Programme GuidelinesCBN guidelinesRevised September 2021
The guidelines link smallholders with anchor companies, with loans in kind and cash repaid in produce or cash, a farmer equity contribution of at least 10% for commodity associations and the CBN bearing 50% of the credit risk after recovery is exhausted44. No new ABP disbursements were recorded from July 2024 to June 202553.
National Agricultural Technology and Innovation Policy (NATIP)2022–2027Foreword dated January 2022
The policy targets at least 12 million jobs and, on agricultural finance, prioritises the recapitalisation and reorganisation of the Bank of Agriculture, the acceptance of movable collateral and the harmonisation of CBN and NIRSAL programmes with BOA, NAIC and the banks14. It noted in 2022 that a functional Agricultural Development Fund had not yet been established14.
National Agri-Food Systems Investment Plan (NASIP)2026–2027Foreword dated November 2025
The third-generation CAADP investment plan is costed at NGN 6,477.3 billion over 2026–2027, of which NGN 712.2 billion for finance, marketing and insurance5. The costing is a plan based on the MTEF, not appropriations5.
Declaration of a state of emergency on food securityPresidential directive13 Jul 2023
The President directed that a state of emergency on food security be announced and that food and water availability and affordability come under the National Security Council, with measures on fertiliser and grain releases, a strategic food reserve and irrigation16. In 2024 the government opened a 150-day duty-free window for imports of maize, wheat and husked brown rice5.
National Livestock Transformation Plan2019–2028Approved by the National Economic Council on 17 Jan 2019
According to a 2019 statement of the Office of the Vice President, of which a copy is on the former Vice President's website, the plan was approved for seven pilot states (Adamawa, Benue, Kaduna, Plateau, Nasarawa, Taraba and Zamfara) with six pillars8. On 9 July 2024 the President announced a Ministry of Livestock Development, and in April 2025 the National Economic Council endorsed its strategy projecting a US$74–90 billion sector by 20351854.
Federal Ministry of Agriculture and Food Security in the federal budget (NGN billion)
Line
2024 (repeal and enactment bill 2)
2025 (repeal and enactment bill)
2026 (Appropriation Act)
Recurrent (non-debt)
110.2
155.4
147.5
Capital
1,334.8
1,418.7
3,259.0
Multilateral and bilateral loan-funded projects
29.5
208.5
168.1
Total (own sum)
1,474.6
1,782.6
3,574.7
Share of aggregate expenditure (%, own calculation)
3.39
3.69
5.23
Aggregate federal expenditure
43,561.0
48,316.2
68,323.3
Source: Budget Office · State House — Appropriations, not releases. The 2024 and 2025 repeal and enactment Acts were assented (Budget Office statement published by the State House, 7 January 2026), and their amounts are read from the bills59. The 2025 lines are from the repeal and enactment bill. The Appropriation (Repeal and Enactment) (Amendment) Act 2026 extended the implementation of the 2025 capital component from 31 March to 30 June 2026 (State House, 17 April 2026)60. The 2026 amounts are from the 2026 Appropriation Bill as passed (column headed 2026 Budget Proposal in the final bill), which came into force on 1 April 202660. The 2026 total is about US$2.68 billion at the end-August 2026 rate of 1,332.94 (own calculation)52. The Federal Ministry of Livestock Development has separate lines (NGN 177.6 billion in 2026, own sum).
8.5
International commitments and trade
Third Nationally Determined Contribution (NDC 3.0)UNFCCC submissionSeptember 2025
NDC 3.0 targets absolute reductions of 29% by 2030 and 32% by 2035 against net emissions of 2018, of which 20% unconditional and 80% conditional, towards net zero by 206061. It estimates needs of US$337 billion for 2026–2035 and lists agricultural adaptation measures including 1,000,000 hectares of climate-smart agriculture and 1,000,000 hectares of new irrigation61.
CAADP Compact and Malabo commitmentsAfrican Union CAADPCompact signed 30 Oct 2009
Nigeria signed its CAADP Compact on 30 October 2009, and NASIP records that Nigeria was not on track in the 4th Biennial Review for the Malabo commitments and did not meet the target of 10% of public spending on agriculture in any year 2015–20255. The Kampala CAADP Declaration of January 2025 frames the strategy for 2026–20355.
AI-assisted content, human-reviewed: This page was generated with the assistance of artificial intelligence and reviewed by a human editor. (last review: October 2026) Despite review, errors or outdated values may remain; please verify critical figures against the linked primary sources before relying on them. Nothing here is investment, legal or financial advice.
