Nigeria to get $134 million agricultural loan from African Development Bank

In a significant move aimed at bolstering Nigeria’s agricultural sector, the African Development Bank (AfDB) has pledged a substantial loan of $134 million.

The funding is earmarked as a pivotal component of the National Agricultural Growth Scheme and AgroPocket (NAGS-AP) Project.

Announcing this groundbreaking initiative in Jigawa State, Minister of Agriculture and Food Security, Abubakar Kyari highlighted the loan’s purpose: to empower farmers to cultivate crucial staples such as rice, maize, cassava, and wheat across the nation.

Kyari emphasized the expected impact of this loan, stating that it could increase crop yield by a minimum of 20% compared to previous years.

Additionally, he said the project will expand to include high-value staples like soybeans and sorghum during the wet season.

His words: “We do not expect a bed of roses; we know that our path will be riddled with challenges. Indeed, there have been quite a few already. But we are poised to take them on.

“We have been innovative in utilizing Information and Communication Technology (ICT) to target already proven irrigated farm clusters; deploy verified farmer data; and map the farmers to AgroDealer Redemption Centres. Thankfully, we have already gained grounds.”

Acknowledging the anticipated challenges ahead, Kyari underscored the innovative utilization of Information and Communication Technology (ICT) to streamline operations.

In response, Governor Umar Namadi of Jigawa expressed gratitude to the federal government for selecting Jigawa for the project, noting that it will positively impact the lives of over 42,000 farmers in the region.

He urged farmers to adopt best practices for a bountiful harvest.


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