Business
Post-Harvest Loss Creates Investment Opportunity
Nigeria suffers about 60 percent post-harvest losses annually in tomato production and other vegetables, stakeholders in the horticulture value chain have said.
These losses and deficits recorded in value-chain, however, present opportunities for investment, which in turn will curb losses the country suffers yearly, they explained.
This came to the fore at the National Tomato Stakeholders workshop with the theme ‘Tomato Value Chain: Emerging and Longstanding Challenges and Sustainable Solutions’ in Abuja.
Speaking at the event, the project coordinator, Horti Nigeria, Mohammed Salasi, explained that the losses recorded are due to the lack of such facilities as adequate cold storage facilities, temperature facilities, gross shortage of plastic crates, and trucks.
He stated that 60 million crates are needed in the country to replace rafia baskets with only 300,000 available, and 90 percent of retailers, producers and middlemen use the rafia baskets in the country, noting that 25,000 trucks are needed but only 1,000 are available.
Salasi further said there is a deficit of 13m metric tonnes of tomatoes and other vegetables, which presents a huge investment opportunity.
He, therefore, urged investors to establish park houses and temperature control facilities to curb large amounts of post-harvest losses, adding that part of the work of Horticulture Nigeria is to introduce seed varieties that will last slightly longer.
Salsai also informed that Horti Nigeria is working with stakeholders to create a more enabling environment for investment in the value chain.
On multiple road taxes suffered by suppliers, he said Horti Nigeria is working with the government at all levels to ensure a harmonised and recognised tax. According to him, the multiple taxes are a disincentive for tomato producers as it increases the price of the produce.
Salasi further highlighted investment opportunities in the local production of soluble fertiliser. “Horti is working with local producers of liquid urea to have soluble fertiliser produced in the country, and that is also a huge potential of investment and a big market looking at the sizable number of greenhouses.
“In addition to that, Horti is already carrying out a census of greenhouses across the country, with that, we will be able to have evidence to show the government the size of the market,” he said, adding that the market for soluble fertiliser is projected to hit over $20 billion by 2027.
The Director of the horticulture division, Federal Ministry of Agriculture and Rural Development, Deola Lordsbanjou, said one of the problems the ministry has identified is the issue of tomato levy.
“If you are importing, there must be a levy attached to it, we are not even sure if leveies have been collected, the funds would have been used for research, policy-making and for farmers”, he said.
He also decried the poor synergy between policymakers in agriculture, especially between the Ministry of Industry, Trade and Investment, and the Ministry of Agriculture.
Further, stakeholders at the meeting decried the weak implementation of policies particularly the 2017 tomato sector policy despite its potential to grow the tomato value chain in Nigeria.
The policy was considered to have somersaulted due to weak implementation and lack of monitoring.
According to a communique issued at the end of the meeting, farmer groups decried the review of the policy in 2021 without the involvement of all stakeholders that developed it.
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.