In a bold move to transform the agricultural landscape, the Ministry of Agriculture has unveiled a $100 million Agritech Fund aimed at accelerating the adoption of technology among young farmers. The initiative, which was officially launched at the National Agriculture and Food Security Conference in Abuja, is part of a broader strategy to modernize farming practices, enhance food security, and drive youth engagement in agribusiness.

Speaking at the event, Minister of Agriculture and Food Security, Dr. Amina Sule, emphasized the importance of innovation in revitalizing the sector:

“We cannot continue to rely on traditional methods. To compete globally and feed our population, we must empower our young people with the right tools and resources to succeed in agriculture.”

The fund will support startups and early-stage agritech ventures through grants, low-interest loans, and capacity-building programs. Key focus areas include precision farming, data analytics, smart irrigation, drone technology, and sustainable farming practices.

In addition to financial support, the program will provide mentorship from experienced agricultural experts, access to land in government-supported farming zones, and partnerships with research institutions.

The youth community has welcomed the initiative. Janet Oke, a 27-year-old agri-entrepreneur, noted:

“This fund is a game changer. Access to capital has always been a huge barrier. With this support, I can finally scale my hydroponic farm and reach more markets.”

Applications for the fund will open on July 1st, 2025, and eligible participants must be aged between 18 and 35, with a viable agritech business or idea.

This investment is expected to not only increase food production but also create over 50,000 new jobs within the next two years.