The Minister of Agriculture and Food Security, Senator Abubakar Kyari,says Nigeria will benefit from a $500 million loan facility from the World Bank to boost agricultural development under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Speaking during a courtesy visit by the World Bank delegation led by Hardwick Ichale, Head of the Agriculture Value Chains for Growth (AGROW) Project, Kyari said the funding is part of the World Bank’s broader $14 billion six-year Agri-Connect Initiative.
According to the Minister, the initiative seeks to close long-standing gaps in smallholder farming by improving connectivity across the entire agricultural value chain—linking farmers, processors, markets, and financial systems. It will also enhance agro-processing capacity, promote rural industrialisation, and improve livelihoods in farming communities.
Kyari added that the programme will support farmer aggregation, strengthen market linkages, and integrate micro, small, and medium-scale enterprises (MSMEs) into key agricultural value chains. He emphasised the need for transparency, accountability, and farmer participation to ensure the project’s success.
He further noted that the Agri-Connect Initiative will complement existing federal programmes, including the Special Agro-Industrial Processing Zones (SAPZs), to expand opportunities for youth and women in agribusiness.
In his remarks, Hardwick Ichale said the AGROW Project aims to unlock Nigeria’s agribusiness potential through job creation, inclusivity, and enhanced productivity, focusing on value chains such as rice, maize, soybean, and cassava.
“The key purpose is to enable farmers to see farming as a business,” Ichale stated.
