The President of the Abuja Chamber of Commerce and Industry, Emeka Obegolu, has announced plans for the Agricultural Mechanisation for Export-Quality Products in Africa Expo 2026, a major agribusiness and investment platform projected to attract up to $500m in initial commitments.
Obegolu, represented at a press conference in Abuja by the chamber’s 2nd Deputy President, Aliyu Hong, said the initiative marks a strategic shift from subsistence farming to large-scale commercial agriculture capable of generating foreign exchange.
He explained that agriculture is now being repositioned as a wealth-creation sector rather than only a food security tool, noting that the private sector is increasingly viewing it as a key investment frontier.
“As you are aware, agriculture is one of the major businesses we promote as a chamber. But beyond food security, we see agriculture as a business,” he said.
Obegolu said the upcoming expo, tagged AGROMEQA Expo 2026, will focus on agricultural mechanisation, agribusiness financing, and investment mobilisation in partnership with stakeholders and relevant agencies.
According to him, the goal is to support Nigeria’s transition into a net exporter of agricultural products through modern equipment, climate-smart technologies, and large-scale investment.
“In the past, emphasis was on local consumption. Now, we want to commercialise agriculture, expand opportunities, and ensure it becomes a major non-oil export sector and a reliable source of foreign exchange,” he said.
He noted that countries that have successfully diversified their economies have relied heavily on agriculture as a major foreign exchange earner, adding that Nigeria has the resources needed to replicate such success.
“We have the capacity, we have the land, and we have the population. What we need now is the right investment, technology, and mechanisation,” he added.
Obegolu stressed that transforming agriculture into a globally competitive sector requires significant capital, describing it as a multi-billion-dollar space that cannot thrive with traditional tools.
“You cannot become a mechanised agricultural economy with hoes and cutlasses and expect to feed the world,” he said.
He also linked agricultural transformation to Nigeria’s broader economic diversification agenda, away from oil dependence.
The ACCI president said improved agricultural systems could also help address long-standing farmer-herder tensions by reducing competition over land and resources through better planning and modernisation.
“Farmers and herders are partners in the same ecosystem. With proper planning, there will be enough room for everyone,” he said.
He added that mechanisation would improve productivity, reduce pressure on land, and create new jobs in manufacturing and services linked to agriculture.
In his remarks, the Executive Director of the Abuja Trade Centre, Ezekwesili Nnam, said early investor engagements indicate strong financial interest in the initiative.
“From ongoing conversations around term sheets and proposals, we are looking at an average of $500 million for a start after the maiden edition,” he said.
He added that the figure could increase as more investors commit to the project ahead of the expo.
