ACCI targets $500m commitments at AGROMEQA Expo 2026

By: Amarachi Okonkwo 

The President of the Abuja Chamber of Commerce and Industry (ACCI), Emeka Obegolu, has unveiled plans for the Agricultural Mechanisation for Export-Quality Products in Africa Expo 2026 (AGROMEQA Expo 2026), a large-scale agribusiness and investment platform expected to attract up to $500 million in initial commitments.

Speaking at a press conference in Abuja, Obegolu represented by the chamber’s 2nd Deputy President, Aliyu Hong said the initiative signals a strategic pivot from subsistence farming and food security concerns toward commercial agriculture capable of generating foreign exchange and driving economic growth.

According to him, the ACCI, formerly known as the Abuja Chamber of Commerce, Industry, Mines and Agriculture, has identified agriculture as a core business focus, with the private sector increasingly viewing the industry as a wealth-creation engine rather than merely a means of sustenance.

Read Also:

• dangote-strikes-first-oil-targets-marketable-crude-within-weeks
• cbn-warns-nigerians-over-fraudulent-links-targeting-bank-accounts

“Beyond food security, we see agriculture as a business. Our duty is to improve the sector and make it attractive for investment so it can generate revenue,” he said.

Shift to Mechanisation and Investment

Obegolu explained that while previous initiatives such as Farm4Tech emphasised agricultural innovation, AGROMEQA Expo 2026 will take a broader approach, focusing on mechanisation, agribusiness financing, and investment mobilisation in collaboration with key stakeholders.

The expo aims to accelerate Nigeria’s transition from a food-importing nation to a net exporter by promoting large-scale farming, modern equipment adoption, and climate-smart agricultural practices.

“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,” he noted.

He added that Nigeria possesses the fundamental advantages vast arable land, a favourable climate, and a large population to replicate the success of countries where agriculture serves as a major foreign exchange earner, provided the right mix of investment, technology, and policy support is in place.

Multi-Billion-Dollar Opportunity

Obegolu stressed that transforming Nigeria into a mechanised agricultural economy would require significant capital investment, describing the sector as a multi-billion-dollar opportunity that cannot be developed using traditional farming methods.

“You cannot become a mechanised agricultural economy with hoes and cutlasses and expect to feed the world. It requires huge investment in innovation, technology, and finance,” he said.

He also linked the initiative to broader efforts to diversify Nigeria’s economy away from oil dependence, expressing optimism that agriculture could emerge as a leading source of foreign exchange.

Addressing Structural Challenges

The ACCI president highlighted structural issues affecting the sector, particularly farmer-herder conflicts, which he attributed to competition over limited resources such as land and grazing routespressures intensified by population growth and climate change.

He advocated improved land-use planning and increased investment in modern livestock and crop production systems to foster coexistence and productivity.

“Farmers and herders are partners in the same ecosystem. What we see today is competition due to a lack of structure and investment,” he said.

Economic Impact and Job Creation

Obegolu noted that mechanised and industrial-scale agriculture would not only boost productivity but also reduce pressure on land while creating jobs across manufacturing and service sectors linked to agriculture.

He explained that in most developed economies, agriculture initially serves as a major employer before transitioning to more industrial and service-driven structures, where fewer people are directly engaged in farming.

“As productivity improves, people can move into manufacturing and services, earning more and contributing to overall economic growth,” he said.

Strong Investor Interest

In his remarks, the Executive Director of the Abuja Trade Centre, Ezekwesili Nnam, revealed that early-stage discussions with investors 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. We expect even more results,” he said.

The AGROMEQA Expo 2026 is expected to serve as a critical platform for unlocking investment, advancing mechanisation, and positioning Nigeria’s agricultural sector as a globally competitive, export-driven industry.