Nigeria Secures $134 Million Loan From African Development Bank To Boost Agricultural Production
The Federal Government of Nigeria has secured a $134 million loan from the African Development Bank (AfDB) aimed at supporting farmers in enhancing seed and grain production across the nation.
According to a statement by Mrs. Anthonia Eremah, Chief Information Officer at the Ministry of Agriculture and Food Security, the loan was announced during the launch of the 2024/2025 National Dry Season Farming program in Calabar by Sen. Abubakar Kyari, the Minister of Agriculture and Food Security.
Minister Kyari emphasized that the loan aligns with the government’s goal of achieving year-round agricultural production through the re-introduction of national dry season farming. This funding, part of the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) Project, is expected to significantly enhance food security.
The government has declared a state of emergency on food production to ensure access to affordable, nutritious food for all Nigerians. The agricultural sector is also seen as a pathway to economic growth, focusing on increased production of staple crops like wheat, rice, maize, sorghum, soybeans, and cassava in both wet and dry seasons.
In the 2023/2024 dry season, the government supported 107,429 wheat farmers in phase one and 43,997 rice farmers in phase two. Additionally, in the 2024 wet season, 192,095 farmers growing rice, maize, sorghum, millet, soybeans, and cassava received support across all 37 states, including the Federal Capital Territory (FCT).
The minister noted that Cross River State has emerged as a leading contributor to wheat production, with over 3,000 farmers identified to benefit from government support for grain cultivation. This support highlights the federal government’s collaboration with Cross River as it embarks on its inaugural wheat production efforts under the 2024/2025 dry season farming program.
The 2024/2025 dry season project aims to support 250,000 wheat farmers across wheat-producing states with subsidized agricultural inputs to cultivate approximately 250,000 hectares, expected to yield around 750,000 metric tonnes of wheat. This is intended to reduce dependence on imports and increase local consumption.
Furthermore, the program will assist 150,000 rice farmers across all 37 states, including the FCT, to produce an estimated 450,000 metric tonnes of rice, contributing significantly to national food reserves.
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