The Federal Government of Nigeria has secured a $134 million loan from the African Development Bank (AfDB), marking a major step toward increasing agricultural production, particularly in the seeds and grains sectors. Announced by the Ministry of Agriculture and Food Security, this funding aims to empower small businesses in farming, support staple crop production, and enhance national food security.
The loan, part of the National Agricultural Growth Support Scheme – Agro Pocket Project, is a targeted initiative to drive productivity for smallholder farmers, who form the backbone of Nigeria’s food supply chain. By prioritizing critical crops such as wheat, rice, maize, sorghum, soybean, and cassava, the funding will facilitate year-round production through the reintroduction of dry season farming.
At the launch of the 2024/2025 National Dry Season Farming initiative in Calabar, Minister of Agriculture and Food Security Sen. Abubakar Kyari underscored the loan’s role in enabling farmers across Nigeria to meet growing food demands and reduce import dependency.
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He noted that the initiative will directly support 250,000 wheat farmers, targeting an output of 750,000 metric tons of wheat, and an additional 150,000 rice farmers, expected to produce 450,000 metric tons of rice.
Kyari highlighted Cross River State as a key partner, with over 3,000 local wheat farmers set to benefit immediately. The state’s Deputy Governor, Peter Odey, emphasized Cross River’s dedication to agricultural growth, which will expand food availability and contribute to the country’s grain and seed production.
The initiative will also offer quality seeds and grains to farmers, aiming to enhance crop yield and strengthen Nigeria’s agricultural sector—an essential boost for small and medium-sized farming enterprises that drive food production in the country.
As food prices rise and food security concerns grow, this collaboration between Nigeria and AfDB provides critical support for small businesses in agriculture, paving the way for greater self-sufficiency and sustainable growth in Nigeria’s food sector.
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