The Federal Government successfully secured a $134 million loan facility from the African Development Bank (AfDB) to enhance agricultural production, with a focus on seeds and grains.
The funding, announced by the Ministry of Agriculture and Food Security on Thursday, is designed to support farmers nationwide in increasing the production of key staple crops, thereby strengthening Nigeria’s food security.
Eremah Anthonia, the Chief Information Officer at the Ministry of Agriculture and Food Security, confirmed the loan’s objective in a statement, saying it will help farmers boost the production of seeds and grains across the country.
“This loan facility of $134 million from the African Development Bank will assist farmers in boosting seeds and grain production in the country,” the statement read.
The loan was officially revealed by the Minister of Agriculture and Food Security, Sen. Abubakar Kyari, during the flag-off of the 2024/2025 National Dry Season Farming initiative in Calabar.
Kyari, accompanied by Cross River State Governor Bassey Otu, represented by Deputy Governor Peter Odey, emphasized the importance of the funding for Nigeria’s agricultural growth.
Kyari highlighted that the reintroduction of the national dry season farming initiative is crucial to ensuring year-round agricultural production.
“This loan will be instrumental in guaranteeing national food security, as it will support the increased production of critical crops such as wheat, rice, maize, sorghum, soybean, and cassava,” he stated.
The loan is part of the National Agricultural Growth Support Scheme (NAGSS) under the Agro Pocket Project, a strategic effort aimed at enhancing Nigerian farmers’ ability to meet growing food demands.
Kyari also reaffirmed the government’s commitment to tackling food security, noting that the Federal Government had declared a food production emergency to ensure that Nigerians have access to affordable, nutritious food.
Kyari provided an update on the ongoing 2023/2024 dry season farming program, stating that 107,429 wheat farmers have received support under Phase 1, and 43,997 rice farmers have benefited under Phase 2.
Additionally, 192,095 farmers growing other crops such as maize, sorghum, millet, soybean, and cassava have also received assistance.
Highlighting Cross River’s significant role in Nigeria’s wheat production, Kyari explained that more than 3,000 wheat farmers in the state will benefit from the new loan.
“Cross River has shown tremendous commitment to wheat production, which is why we are partnering with the state to enhance the country’s wheat supply, starting with the 2024/2025 dry season farming,” he added.
The initiative aims to support 250,000 wheat farmers across wheat-producing states, with an expected output of 750,000 metric tons of wheat, helping to reduce Nigeria’s dependence on wheat imports.
Additionally, 150,000 rice farmers are expected to be supported, with a projected output of around 450,000 metric tons of rice, covering all 37 states, including the Federal Capital Territory.
Governor Otu reiterated Cross River’s commitment to boosting agricultural production, particularly wheat, stating, “We have a deliberate agriculture policy to ensure food availability, and this collaboration will propel us to produce more grains and seeds for the nation.”
Mr. Buba Ishaku, National Project Coordinator of the National Agricultural Growth Support Scheme, further explained that the initiative would provide farmers with quality seeds and grains to increase crop yields and benefit millions of people across the country.
