The World Bank has approved a $500 million International Development Association (IDA) credit to support Nigeria’s agriculture sector, focusing on smallholder farmers, value chains, and food security, ENigeria Newspaper has learnt.
ENigeria Newspaper gathered that the funding will back the Nigeria Sustainable Agricultural Value Chains for Growth Project (AGROW), designed to increase productivity, enhance market linkages, and create jobs across the country.
A statement from the World Bank on Thursday, as seen by ENigeria Newspaper, explained, that “AGROW is aimed at increasing smallholder farmers’ productivity, strengthening agricultural value chains, and creating jobs while improving food and nutrition security.”
“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 statement added.
The project will target key crops such as rice, maize, cassava, and soybeans, while promoting post-harvest handling, agro-processing, and market access. It will also support digital advisory services, climate-resilient seeds, and improved regulatory systems for seed and fertiliser supply.
Speaking on the initiative, the World Bank Country Director for Nigeria, Mathew Verghis, characterized the project as a significant step toward changing the industry.
‘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.
“This project is expected to benefit up to one million smallholder farmers, mobilise significant private investment, and increase yields across targeted crops. At the same time, it will help to ensure improved food and nutrition security and greater resilience to climate shocks among farmers in the participating states across Nigeria.”
The six-year project, running from 2026 to 2032, aligns with Nigeria’s goals to boost agricultural productivity, create jobs, and transform smallholder farming into commercially viable agribusinesses.
