Nigeria must urgently transition from subsistence farming to an industrialised agricultural system if it is to achieve food security, economic diversification, and sustainable job creation, according to Banji Oyelaran-Oyeyinka, former Senior Special Adviser on Industrialisation to the President of the African Development Bank.

Speaking at the Oyo State Economic Summit, held at the International Institute of Tropical Agriculture in Ibadan, Professor Oyelaran-Oyeyinka warned that Nigeria’s vast agricultural potential remains largely untapped. His lecture, titled “Industrialising Agriculture for Economic Development and Food Security: Enhancing National Economies and Sub-National Entities,” highlighted the paradox of a country rich in arable land yet heavily dependent on food imports.

Despite being one of the world’s leading producers of staple crops such as cassava and yam, Nigeria remains a net food importer. Oyelaran-Oyeyinka noted that the country spends more than one trillion naira annually importing wheat, rice, sugar, and fish—placing sustained pressure on foreign exchange reserves, weakening domestic production systems, and limiting employment opportunities across the value chain.

According to the development economist, the solution lies not in expanding farmland alone, but in transforming agriculture into a modern, industrial enterprise capable of generating surplus, supplying agro-processing industries, and supporting manufacturing and exports.

“Industrialising agriculture does not mean replacing rural communities with factories,” he said. “It means empowering farmers with technology, skills, infrastructure, and reliable market access to significantly raise productivity and incomes.”

Professor Oyelaran-Oyeyinka pointed to deep structural constraints holding back agricultural productivity, including weaknesses in education and skills development, underinvestment in technology, and inadequate infrastructure. He highlighted the stark productivity gap between Africa and Asia, noting that cereal yields in African countries remain less than one-third of those achieved in East Asia—an imbalance that continues to undermine global competitiveness.

He outlined key pillars required to drive agricultural industrialisation, including mechanisation, value addition, integrated supply chains, access to finance, improved seed systems, and sustained investment in human capital and technology. Farms, he argued, must be treated as “factories without roofs,” forming the foundation of agro-processing, manufacturing, and export-oriented industries.

Drawing lessons from Vietnam, Oyelaran-Oyeyinka illustrated how deliberate agricultural modernisation transformed the Southeast Asian nation from a food importer into a leading exporter of rice, coffee, cashew nuts, and seafood—generating tens of billions of dollars annually and supporting broader industrial growth.

He urged Nigerian state governments to prioritise rural infrastructure, strengthen agricultural extension services, and develop special agro-industrial processing zones to attract both domestic and international investment. He also called on the private sector to recognise agriculture as a profitable and strategic business frontier.

“Nigeria’s future prosperity depends less on oil and more on how effectively we harness the productive potential of our land and people,” he said. “No country has reached middle-income status without first modernising its agriculture. The seeds of Nigeria’s prosperity are not buried in oil wells; they are sown in the fertile soils of its ecological zones.”