The World Bank has announced the approval of a $500 million credit facility for Nigeria through the International Development Association (IDA) to aid the implementation of the Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW) project.
A statement on the bank’s website noted that the initiative is designed to increase smallholder farmers’ productivity, strengthen agricultural value chains, and create jobs.
“Agriculture remains Nigeria’s largest source of employment, yet low productivity, limited access to quality inputs, climate shocks, and weak market linkages for smallholder farmers have constrained its potential to generate better jobs and affordable food,” the statement read.
“Many smallholder farmers remain trapped in subsistence farming, while food and nutrition insecurity continues to affect millions of Nigerians.The World Bank said the AGROW project will provide support to agribusinesses that commit to sourcing from smallholder farmers through a results-based matching grant scheme.
“The intervention will focus on aggregation, post-harvest handling, agro-processing, and improved market access across priority value chains such as rice, maize, cassava, and soybeans,” the bank said.
The World Bank said the AGROW project will provide support to agribusinesses that commit to sourcing from smallholder farmers through a results-based matching grant scheme.
“The intervention will focus on aggregation, post-harvest handling, agro-processing, and improved market access across priority value chains such as rice, maize, cassava, and soybeans,” the bank said.
In addition, the World Bank said the project will seek to improve seed and fertiliser regulatory systems, expand early-generation seed supply, and enhance private sector participation in the production of high-quality inputs. Similarly, strong coordination, monitoring, and citizen engagement mechanisms will be deployed to ensure accountability and inclusion, particularly for women and youth.”
The statement further quoted Mathew Verghis, World Bank country director for Nigeria, describing AGROW as a “transformative step” for Nigeria’s agriculture sector.
“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,” Verghis 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 participating states.”