The Federal Government of Nigeria has announced the acquisition of a $134 million loan from the African Development Bank (AfDB).
This financial boost is strategically aimed at enhancing food security across the nation, with a particular emphasis on dry season farming.
The initiative, known as the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) Project, is set to play a pivotal role in addressing food scarcity.
According to Anthonia Eremah, a chief spokesperson for the Ministry of Agriculture and Food Security, "This programme will provide much-needed resources to farmers and, in turn, bolster Nigeria’s food production capacity, addressing the needs of communities nationwide."
Initially, the project will support 150,000 rice farmers across all 37 states, including the Federal Capital Territory (FCT).
The government anticipates that by the second phase, this effort will yield approximately 450,000 metric tonnes of rice. This substantial increase in production is expected to stabilize food supply chains and mitigate the challenges posed by fluctuating agricultural output and rising food prices.
The Minister of Agriculture highlighted that this project represents a crucial step towards ensuring stable food production across the country. With AfDB’s financial backing, the government aims to fortify Nigeria's agricultural output, making strides toward both rural development and economic stability.
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