The Federal Government of Nigeria has secured a $500 million loan from the World Bank to strengthen the nation’s agricultural sector and enhance food security under the administration’s Renewed Hope Agenda.

The facility, approved under the World Bank’s Agri-Connect initiative, is designed to accelerate growth across Nigeria’s agricultural value chains, with a focus on key crops such as rice, maize, soybean, and cassava. The initiative will connect farmers to markets, improve agro-processing capacity, and expand access to finance and technology.

According to the Federal Ministry of Agriculture and Food Security, the programme will address long-standing challenges faced by smallholder farmers while integrating micro, small, and medium enterprises (MSMEs) into value chains. It also aims to create jobs, reduce post-harvest losses, and promote rural industrialisation.

The loan aligns with President Bola Ahmed Tinubu’s priority to achieve national food self-sufficiency and inclusive economic growth through modern, market-driven agriculture.

The World Bank’s broader Agri-Connect programme, valued at $14 billion globally over six years, supports sustainable food systems and enhances resilience to climate and market disruptions across participating countries.

Experts say the facility marks a major step toward revitalising Nigeria’s agriculture sector. However, they emphasise that its success will depend on transparent implementation, strong institutional coordination, and ensuring that smallholder farmers benefit directly from the initiative.

Agriculture remains a cornerstone of Nigeria’s economy, employing millions and contributing substantially to GDP. Strengthening the sector is considered critical to ensuring food security, reducing imports, and driving inclusive national development. Visit www.jocomms.com for more news.