The World Bank has approved a $500 million credit facility for Nigeria to strengthen its agricultural value chains and improve food security.
The funding, provided through the International Development Association (IDA), will support the Nigeria Sustainable Agricultural Value Chains for Growth Project (AGROW), a six-year programme running from 2026 to 2032.
The project is designed to:Boost productivity among smallholder farmers Strengthen agricultural value chains Improve market access and linkages Create jobs across the agriculture sector The initiative targets up to one million farmers and focuses on key staple crops such as rice, maize, cassava, and soybeans critical to Nigeria’s food supply and agro-industrial use.
A core component of the programme is a matching grant system that supports agribusinesses sourcing produce from smallholder farmers, with investments directed toward aggregation, storage, processing, and distribution.
Beyond financing, the project will:Expand access to climate-resilient seeds and quality inputs Strengthen research and extension services Introduce a national digital registry for farmers and farms Provide digital advisory tools, including weather data The World Bank stated that despite being Nigeria’s largest employer, agriculture remains constrained by low productivity, weak infrastructure, limited financing, and climate-related risks.
According to the bank’s Country Director for Nigeria, Mathew Verghis, the AGROW programme is expected to unlock private-sector investment, improve yields, and strengthen food and nutrition security sustainably.
The project is also projected to mobilise additional private capital into the sector, reinforcing efforts by the Nigerian government to reduce food imports and reposition agriculture as a major growth driver.
Source: Punch.ng
