World Bank Approves $500 Million Loan to Boost Nigeria's Agriculture, Targeting One Million Farmers
The World Bank has approved a $500 million concessional loan to Nigeria aimed at strengthening its agricultural sector. The funding, provided through the International Development Association (IDA), will support the Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW) project from 2026 to 2032. This initiative targets smallholder farmers and agribusinesses to improve farm productivity, strengthen value chains, and create jobs. The project focuses on key crops such as rice, maize, cassava, and soybeans, and includes investments in research, climate-resilient seeds, and a national digital registry for farms. The AGROW program aims to link farmers directly to markets and private sector buyers, enhancing processing, storage, and market access.