Nigeria’s agriculture sector has received a boost from the World Bank.
First, the bank approved a $500 million credit for farmers and agribusinesses nationwide.
Next, the International Development Association is providing the funding.
World Bank Fund Nigeria’s Farmers
Meanwhile, officials call the programme the Nigeria Sustainable Agricultural Value-Chains for Growth project.
Overall, the plan aims to raise productivity, strengthen value chains and improve food security.
Boosting Productivity
However, agriculture employs many Nigerians but still struggles with low yields and poor market access.
To address this, the project supports smallholder farmers and encourages private sector participation.
Private Sector Drive
In addition, agribusinesses that source from farmers will receive results-based matching grants.
As a result, the programme will improve storage, processing and market access.
At the same time, it prioritises rice, maize, cassava and soybeans production.
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Furthermore, it invests in research and climate-resilient seeds for farmers.
To improve planning, the government will introduce a national digital registry.
Similarly, farmers will receive digital advisory services, including local weather updates.
According to Mathew Verghis, the project empowers farmers and attracts investment.
Importantly, the initiative will benefit about one million smallholder farmers nationwide.
Beyond this, it strengthens seed systems and improves fertiliser access and regulation.
In turn, the programme aims to attract more private investment into agriculture.
Looking ahead, the project will run from 2026 to 2032 across Nigeria.
At the same time, it will mobilise an additional $220 million in agribusiness investment.
Ultimately, the plan supports efforts to shift agriculture towards a more commercial model.
In line with this, it aligns with the World Bank’s Agriconnect initiative.
Finally, the approval follows another $500 million package supporting small business financing in Nigeria.
