The World Bank has approved a $500 million credit facility for Nigeria to support smallholder farmers and strengthen the country’s agricultural sector.
The funding, provided through the International Development Association (IDA), will drive the Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW) project, aimed at improving productivity and food security.
Targeting One Million Farmers
The AGROW initiative is expected to benefit up to one million smallholder farmers across Nigeria. It focuses on boosting yields, improving access to markets, and creating jobs within the agricultural value chain.
Agriculture remains Nigeria’s largest employer, yet many farmers still struggle with low productivity, limited access to inputs, and weak market connections. The project seeks to change this by linking farmers directly with agribusinesses and buyers.
Strengthening Value Chains and Investment
Under the programme, agribusinesses that source produce from smallholder farmers will receive support through a matching grant system.
The initiative will focus on key crops such as rice, maize, cassava, and soybeans, while improving storage, processing, and market access. It is also expected to attract about $220 million in additional private investment into the sector.
Driving Food Security and Growth
Beyond funding, the project will introduce climate-resilient seeds, digital advisory services, and a national farmer registry to improve planning and transparency.
Experts say the initiative could play a major role in tackling food insecurity, stabilizing prices, and boosting rural incomes.
With rising food costs and economic pressure on households, the World Bank-backed programme is seen as a critical step toward transforming Nigeria’s agriculture into a more productive, resilient, and job-creating sector.
