The World Bank has approved a $500m International Development Association credit to boost Nigeria’s agricultural sector under a new programme targeting smallholder farmers, value chains, and food security.
The funding, according to the World Bank, will support the Nigeria Sustainable Agricultural Value Chains for Growth Project, also known as AGROW, which aims to improve productivity, strengthen market linkages, and create jobs across the country.
“The World Bank has approved a $500m International Development Association credit for the Nigeria Sustainable Agricultural Value Chains for Growth Project, aimed at increasing smallholder farmers’ productivity, strengthening agricultural value chains, and creating jobs while improving food and nutrition security,” the World Bank said in a statement on its website on Thursday.
The World Bank noted that agriculture remains Nigeria’s largest employer but continues to underperform due to structural constraints.
“Agriculture remains Nigeria’s largest source of employment, yet low productivity, limited access to quality inputs, climate shocks, and weak market linkages for smallholder farmers have constrained its potential to generate better jobs and affordable food,” the statement said, adding that many smallholder farmers are still trapped in subsistence farming, while food and nutrition insecurity persists across the country.
According to the statement, the AGROW project will support agribusinesses that source produce from smallholder farmers through a results-based matching grant facility.
The initiative will focus on aggregation, post-harvest handling, agro-processing, and improved market access, with priority placed on key crops, including rice, maize, cassava, and soybeans.
The statement added that the programme would strengthen agricultural research and extension services, expand access to improved and climate-resilient seeds, and establish a national digital farm and farmer registry.
It said that farmers would also benefit from digital advisory services, including localised weather and climate information, to improve productivity and resilience.
The bank further disclosed that the project would improve seed and fertiliser regulatory systems, boost early-generation seed supply, and enhance private sector participation in the production of high-quality inputs.
“In addition, the project will improve seed and fertiliser regulatory systems, expand early-generation seed supply, enhance private sector production of high-quality seed and farmers’ access to quality fertiliser, and promote transparent and responsible land-based investments.”
The lender added that the programme would be supported by strong coordination, monitoring, and citizen engagement mechanisms, with an emphasis on the inclusion of women and youth.
The report by Punch newspaper on Thursday quoted the World Bank Country Director for Nigeria, Mathew Verghis,Speaking as saying that the initiative is a major step toward transforming the Nigerian agricultural sector.
“AGROW is a transformative step for Nigeria’s agriculture—empowering smallholder farmers, unlocking private sector–led growth, and strengthening food security in a sustainable way,” he said.
GIK/APA