The Minister of Agriculture and Food Security, Senator Abubakar Kyari has outlined how the federal government aims to spend the $500 million loan facility obtained from the World Bank.
Speaking when he received on a courtesy visit, a delagtikn from the World Bank led by the Head, Agriculture Value Chains for Growth (AGROW PROJECT), Hardwick Ichale, the Minister explained that the $500 million loan facility from the World Bank would accelerate development in the agriculture ecosystem in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda in the Agricultural sector.
Kyari stated that the World Bank’s $14 billion six year agri- connect initiative would address long-standing gaps in smallholder farming by improving connectivity across the entire agricultural value chain.
He added that the initiative aims to improve connectivity between farmers, processors, markets, and financial systems, ensuring stronger value chains, expanded agro-processing capacity, and improved rural livelihoods.
The Minister revealed that the program would support farmer aggregation, market linkages, and the integration of micro, small, and Medium-Scale enterprises (MSMEs) into key agricultural value chains.
He stressed the importance of organized farmer participation, transparency, and effective oversight to guarantee accountability and maximize impact.
He reaffirmed that the intervention aligns with the strategic priorities of President Bola Ahmed Tinubu GCFR, particularly under the renewed national drive for food security, rural industrialization, and job creation.
The Minister noted that Agri-Connect would complement ongoing Federal Government program, including the Special Agro-Industrial Processing Zones (SAPZs), to catalyze rural agro-industrial growth and expand opportunities for youth and women in agribusiness.
Earlier in his remarks, World Bank’s Head of the delegation , Hardwick Ichale said that Agriculture Value Chains for Growth (AGROW Project) would unlock Nigeria’s Agribusiness sector with job creation for youths and women, inclusivity and enhance productivity among others
Ichale revealed that the project would focus on specific value chains such as Rice, Maize, Soyabean , and Cassava. “The key purpose is to enable farmers to see farming as a business.”