World Bank Approves $500 Million Credit to Boost Nigeria's Agricultural Sector
The World Bank has sanctioned a $500 million credit facility aimed at enhancing Nigeria's agricultural sector. This funding, provided through the International Development Association (IDA), is designated for the Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW) project, which will run from 2026 to 2032. The initiative seeks to address challenges such as rising food prices and low agricultural productivity by supporting approximately one million smallholder farmers. Key objectives include increasing agricultural productivity, strengthening value chains, and improving national food security. The project will focus on staple crops like rice, maize, cassava, and soybeans, and will provide matching grants to agribusinesses, invest in processing and storage, and improve access to quality seeds and fertilizers. A national digital registry for farmers will also be introduced to aid in planning and advisory services. 
