On Thursday, November 14, the Federal Government announced it had successfully secured a $134 million loan from the African Development Bank (AfDB).
This loan is intended to support agricultural initiatives across Nigeria, specifically focusing on improving the availability and quality of seeds and grains for farmers nationwide.
Anthonia Eremah, Chief Information Officer for the Ministry of Agriculture and Food Security, issued a statement explaining that the Minister shared the news at the launch of the 2024/2025 National Dry Season Farming program held in Calabar, the capital of Cross River State. The Minister emphasized that this loan aligns with the government’s broader goals of enhancing food security through the reintroduction of the national dry season farming initiative.
The funding is part of the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) Project, led by the Ministry of Agriculture, which aims to provide direct assistance to farmers. According to the Minister, the initiative’s second phase will support 150,000 rice farmers across Nigeria’s 37 states, including the Federal Capital Territory (FCT), with an expected yield of around 450,000 metric tonnes of rice.
This financial support from the AfDB comes at a critical time, as Nigeria seeks to strengthen its agricultural sector and reduce dependency on imported food. The government expects that increased domestic production, aided by the dry season farming initiative, will not only improve food availability but also drive economic growth by supporting the agricultural workforce. The Minister further expressed optimism that with enhanced farming practices and resources, Nigeria is poised to make significant strides toward achieving self-sufficiency in rice production and improving national food security.
