In a landmark move, the Federal Government of Nigeria has secured a whopping $134 million loan facility from the African Development Bank (AfDB) to boost agricultural production and ensure national food security.¹ ² ³ ⁴ ⁵ This loan is a game-changer for Nigeria's agricultural sector, and here's why:
Enhance Seed and Grain Production_: Support farmers in producing high-quality seeds and grains to reduce dependence on imports.
- _Increase Food Availability_: Ensure easy access to quality and nutritional food at affordable rates for all Nigerians.
- _Economic Revival_: Utilize the agricultural sector to drive national economic growth and development.
*The National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) Project*
This initiative aims to support 250,000 wheat farmers across wheat-producing states with subsidized agricultural inputs. The project also targets 150,000 rice farmers, covering all 37 states, including the FCT.
Over 107,429 wheat farmers and 43,997 rice farmers have already benefited from the program's first phase. Cross River State leads the pack in wheat production, with over 3,000 farmers set to benefit from the support.
*Government's Commitment*
The Federal Government has declared an emergency on food production, demonstrating its dedication to ensuring national food security. This loan facility is a significant step towards achieving that goal.
This development is a testament to the government's efforts to prioritize agriculture and empower farmers. With this loan, Nigeria is poised to become a leader in agricultural production, driving economic growth and food security for its citizens.
0 Comments