Business
Economy: Buhari Solicits For Int’l Support, Investments
President Muhammadu Buhari has said his administration will continue to welcome support and investments from the international community in the agricultural and solid minerals sectors as Nigeria moves to reduce dependence on crude oil.
The president stated this in a statement issued in Abuja recenly by his Senior Special Assistant on Media and Publicity, Malam Garba Shehu.
The statement said President Buhari was speaking at a farewell audience with the outgoing Ambassador of the Republic of Sweden to Nigeria, Mr. Svante Kilander, in the State House.
President Buhari said the Federal Government would create the enabling environment for local and foreign investments in farming, animal husbandry, fishery and the exploration of solid minerals.
He noted that the planned visit by some Swedish trade and investment delegations to the country later in the year would further encourage the ongoing process of diversifying the Nigerian economy.
President Buhari commended the Swedish government for the support extended to Nigeria in catering for the needs of Internally Displaced Persons (IDPs) in the North East and the ongoing reconstruction of the areas affected by terrorist attacks.
In his remarks, the Swedish Ambassador said his country was pleased with the sweeping changes taking place across the country with clear results in the fight against terrorism and corruption.
Kilander said his country would continue to strengthen bilateral relations with Nigeria by encouraging more trade and investments between both countries.
The statement said that President Buhari had earlier received special envoys from President Salva Kiir Mayardit of the Republic of South Sudan and President Al-Bashir of the Republic of Sudan separately.
President Buhari advised the two countries to avoid the trap of getting into a mono-cultural economy like Nigeria by diversifying their economies early.
He also advised the two countries to be more vigilant on security by stemming recruitment of young people by terrorist groups.
He said Nigeria would continue to support the transitional government that had been put in place in South Sudan.
“The leader of the South Sudan delegation, who is a Senior Presidential Adviser on Peace, Mr. Nhial Deng Nhial and the leader of the Sudan delegation, Ismail Abdul-Raheem, who is the State Minister, Foreign Affairs, assured President Buhari of their commitment to strengthen bilateral relations.
“Both envoys commended Nigeria for the leadership role it had played to ensure peace and stability in their countries,’’ the statement said.
The United States Trade Representative (USTR) has criticised Nigeria’s import ban on 25 categories of goods, claiming that the restrictions limit market access for American exporters.
This is the effect of President Donald Trump’s tariffs introduction on goods entering the United States, with Nigeria facing a 14 per cent duty.
The USTR highlighted the impact of Nigeria’s import ban on various sectors, particularly agriculture, pharmaceuticals, beverages, and consumer goods.
The restrictions affect items such as beef, pork, poultry, fruit juices, medicaments, and alcoholic beverages, which the United States sees as significant barriers to trade.
The agency argues that these limitations reduce export opportunities for United States businesses and lead to lost revenue.
“Nigeria’s import ban on 25 different product categories impacts United States exporters, particularly in agriculture, pharmaceuticals, beverages, and consumer goods.
“Restrictions on items like beef, pork, poultry, fruit juices, medicaments, and spirits limit United States market access and reduce export opportunities.
“These policies create significant trade barriers that lead to lost revenue for United States businesses looking to expand in the Nigerian market”, the agency said .
In 2016, Nigeria implemented the ban on these 25 items as part of efforts to control imports and stimulate local production.
Some of the banned items include poultry, pork, refined vegetable oil, sugar, cocoa products, spaghetti, beer, and certain medicines.
On March 26, 2025, the Federal Government also announced plans to halt solar panel imports to encourage local manufacturing as part of its push for clean energy.
A leading agribusiness strategist and digital agriculture expert, Ayo Oluwa Okediji, has sought cooperative-driven investments in sustaining growth of poultry industry in Nigeria.
He said the poultry industry was at a defining moment and requires urgent structural reforms to secure its future and ensure long-term sustainability.
Speaking on the theme, “Strengthening Poultry Farming Through Cooperative Synergy and Strategic Investments”, at the recently concluded Oyo Mega Poultry Workshop 2025 in Ibadan, Okediji called on poultry farmers, cooperative leaders, financial institutions and policy makers to rethink the existing structure of the poultry sector.
He stressed the need to transition from fragmented, individually-driven operations to well-structured, cooperative-led enterprises capable of attracting sustainable financing and securing long-term viability.
He said, “Our poultry sector cannot thrive on individual effort alone. We need to organise ourselves into cooperative clusters, build strong governance systems and position ourselves to attract the level of investment needed to sustain this industry beyond this generation.”
Drawing on lessons from successful global cooperative models such as Rabobank in the Netherlands and Landus Cooperative in the United States, Okediji introduced the FarmClusters Poultry Model, a locally adapted solution developed by Agribusiness Dynamics Technology Limited (AgDyna), a subsidiary of AgroInfoTech Africa.
According to him, the model is currently being piloted in Oyo State in partnership with PANOY Agribusiness Limited and local poultry cooperatives.
The Rivers State Representative of the Nigeria Chambers of Commerce, Mines, Industries and Agriculture (NACCIMA), Mr. Erasmus Chukwundah, has urged palm oil farmers to consider hybrid seedlings for planting, if they must break even in palm oil business.
Chukwundah said this recently at the Free Oil Palm Business Climate Smart Best Management Practice/Assistance Training organized by Partnership Initiative In Niger Delta (PIND) for Palm Oil Farmers in Elele, Ikwerre Local Government Area.
The Rivers representative said until palm oil farmers begin to consider such hybrid oil palm seedlings, they may not meet up with the daily increasing demand of palm oil in the market.
According to him, the seedlings produce up to 30 bunches at once that ripen same time.
He said PIND decided to partner with Oil Palm Growers Association of Nigeria (OPGAN) to ensure that the message was received by the targeted audience.
According to him, palm oil remained a popular choice of industry operators as it could be converted to many other products such as vegetable cooking oil.
He also noted that products such as motor tyers, marine ropes and others are now gotten from the palm tree.
Chukwundah, who is the immediate past Director-General of Port Harcourt Chamber of Commerce, Mines, Industries, and Agriculture (PHCCIMA), further warned against use of unrecommended fertilisers in growing oil palms.
He noted that such practices could limit its export value or chances as the foreign marketers have a way of detecting such .
He reiterated the need for organic fertilizers, including poultry droppings, to enable them have a natural palm oil.
“People must reduce physical contact with palm oil production. That is why we are campaigning for hydrolic oil mills. The foreign markets are no longer interested in crude method of palm oil production”, he said.
Meanwhile, one of the farmers, Sonny Didia, who appreciated Chukwundah’s commitment towards the concern of farmers, appealed for an urgent need for loan opportunity with low interest rate in order to enable them beat the target.
King Onunwor