FG Secures Fresh $134 million Loan from African Development Bank

The Federal Government on Thursday, November 14, announced that it had secured a $134 million loan from the African Development Bank (AfDB).

According to the chief information officer for the Ministry of Agriculture and Food Security, Anthonia Eremah, the loan will be channelled into helping farmers boost their seeds and grain across the country.

In a statement issued on Thursday, Eremah said the Minister disclosed this while speaking at the unveiling of the 2024/2025 National Dry Season Farming in Calabar, Cross River State capital.

According to the minister, the loan will help guarantee food security across Nigeria, especially with the re-introduction of national dry season farming.

He also stated that the initiative is under the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) Project of the Ministry of Agriculture.

“Equally the programme will provide support to 150,000 rice farmers under the second phase to cover all the 37 states, including FCT, with an expected output of about 450,000 metric tonnes,” the minister said.