FG Secures $134 Million Loan from AfDB to Boost Food Security, Support Farmers

The Federal Government of Nigeria has successfully secured a $134 million loan from the African Development Bank (AfDB) to support the country’s agricultural sector and enhance food security.

The announcement was made on Thursday, November 14, by the Ministry of Agriculture and Food Security during the unveiling of the 2024/2025 National Dry Season Farming in Calabar, Cross River State.

According to Anthonia Eremah, the Ministry’s chief information officer, the loan will be directed towards increasing the availability of quality seeds and grains for farmers across the country, as part of efforts to ensure a steady food supply.

The initiative will particularly benefit rice farmers, with plans to assist up to 150,000 rice producers across all 37 states, including the Federal Capital Territory (FCT).

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In a statement, the Minister of Agriculture emphasized that the loan is vital for boosting Nigeria’s agricultural productivity, especially as the country reintroduces national dry season farming as part of its broader strategy to combat food insecurity.

The expected output from the project is approximately 450,000 metric tonnes of rice.

“This funding will help empower farmers and provide the necessary tools to boost seed production and grain harvests, ensuring that the country can meet its growing food demand,” Eremah explained.

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The loan is part of the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) Project, a government initiative designed to transform Nigeria’s agricultural sector and make it more resilient in the face of climate challenges and fluctuating food prices.

This development comes at a time as the government intensifies efforts to improve food security and increase agricultural output, in line with President Bola Ahmed Tinubu’s administration’s commitment to uplifting the agricultural sector.