The World Bank has approved a $500 million credit facility for Nigeria to support agricultural transformation, with a focus on improving productivity, strengthening value chains and enhancing food security.
The funding, provided through the International Development Association (IDA), will finance the Sustainable Agricultural Value-Chains for Growth (AGROW) Project, a nationwide initiative expected to benefit up to one million smallholder farmers.
According to the World Bank, the project will target key staple crops including rice, maize, cassava and soybeans, while mobilising an additional $220 million in private sector investment to support agribusiness development and rural economic growth.
The AGROW Project is designed to improve agricultural productivity through enhanced research and extension services, as well as expanded access to improved and climate-resilient seeds. It will also strengthen value chains by supporting agribusinesses that source from smallholder farmers and improving post-harvest handling, storage and market access.
As part of efforts to enhance food security, the project will establish a national digital farm and farmer registry and provide digital advisory services to support data-driven decision-making and improve farm-level outcomes.
The World Bank said the initiative will promote private sector participation through public-private partnerships, aimed at increasing investment across agricultural value chains and improving efficiency in the sector.
Officials said the project is expected to increase productivity and incomes for farmers, improve food availability and nutrition, and create jobs in rural communities, while contributing to broader goals of economic inclusion and resilience.
The intervention aligns with Nigeria’s priorities to expand agricultural output, deepen value addition and strengthen the sector’s contribution to sustainable economic development.
