The Federal Government has secured a $134 million loan facility from the African Development Bank to boost agricultural production, with a particular focus on enhancing the seeds and grains sector.
The loan, announced by the Ministry of Agriculture and Food Security on Thursday, is set to support farmers across Nigeria in increasing the production of key staple crops, thus contributing to the country’s food security.
The Chief Information Officer at the Ministry of Agriculture and Food Security, Eremah Anthonia, emphasized the importance of the loan in a statement.
“The Federal Government has secured a loan facility of $134m from the African Development Bank to help farmers boost seeds and grain production in the country,” he said.
The announcement was made during the launch of the 2024/2025 National Dry Season Farming initiative, held in Calabar.
Agriculture and Food Security Minister Sen. Abubakar Kyari, accompanied by Cross River State Governor Bassey Otu, represented by Deputy Governor Peter Odey, explained the significance of the loan for Nigeria’s agricultural sector’s ongoing development.
Kyari expressed, “The reintroduction of the national dry season farming is key to ensuring year-round agricultural production,” stressing that the loan would be pivotal in advancing the country’s agricultural growth.
The loan facility, part of the National Agricultural Growth Support Scheme and the Agro Pocket Project, is designed to enhance Nigerian farmers’ capacity to meet the country’s rising food demands.
Kyari also revealed that the Federal Government had declared a food production emergency, prioritizing accessible, nutritious food for Nigerians.
The Minister also shared an update on the ongoing support to farmers under the 2023/2024 dry season program, stating, “To date, we have supported 107,429 wheat farmers under phase 1, 43,997 rice farmers under phase 2, and an additional 192,095 farmers growing rice, maize, sorghum, millet, soybean, and cassava across the country.”
Kyari noted the pivotal role Cross River plays in Nigeria’s wheat production. Over 3,000 wheat farmers from the state are expected to benefit from the new loan facility.
He explained, “Cross River has shown tremendous commitment to wheat production, which is why we are partnering with the state to enhance the country’s wheat supply, starting with the 2024/2025 dry season farming.”
The initiative aims to support 250,000 wheat farmers across wheat-producing states, with a projected output of 750,000 metric tons of wheat.
This will play a crucial role in reducing Nigeria’s dependency on wheat imports. Similarly, 150,000 rice farmers will be supported, yielding an estimated 450,000 metric tons of rice across all 37 states, including the Federal Capital Territory.
Governor Bassey Otu reiterated Cross River’s dedication to the agricultural agenda, particularly wheat production.
He stated, “We have a deliberate agriculture policy to ensure food availability, and this collaboration will propel us to produce more grains and seeds for the nation.”
The National Project Coordinator for the National Agricultural Growth Support Scheme, Mr. Buba Ishaku, further elaborated on the project’s implementation.
He stated, “The initiative will provide farmers with quality seeds and grains to ensure a substantial increase in crop yield, benefiting millions across the country.”
This initiative marks a significant step toward enhancing Nigeria’s agricultural self-sufficiency, with a strong emphasis on supporting farmers with the tools needed to increase productivity and meet the growing demand for staple crops.
