Federal government Secures $134 Million Loan from African Development Bank to Boost Rice, Wheat, and Maize Production
The Nigerian federal government has secured a $134 million loan from the African Development Bank (AfDB) to enhance the production of staple crops, including rice, wheat, and maize.
The announcement was made by Abubakar Kyari, the Minister of Agriculture and Food Security, during the launch of the 2024/2025 national dry season farming in Cross River State.
This initiative is part of the administration’s broader strategy to use agriculture as a key driver for economic recovery and to ensure affordable food access for Nigerians.
As part of this effort, Kyari introduced the wheat cultivation initiative under the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) project as the program aims to boost wheat production through the provision of subsidized agricultural inputs, targeting 250,000 wheat farmers and 150,000 rice farmers for the upcoming season.
The NAGS-AP initiative has already made significant progress, benefiting thousands of farmers across the country.
In Cross River State, which is seen as having favorable conditions for wheat production, the government is working with local authorities to include it among the wheat-producing regions. Around 3,000 registered wheat farmers in the state are set to receive support under the program. To ensure transparency and accountability, an ICT platform will be used to track the distribution of inputs, and security agencies have been enlisted to protect the integrity of the initiative.
Additionally, the government plans to establish a minimum guaranteed price for the crops to stabilize farmers’ incomes and reduce dependence on imports. Kyari expressed optimism about the impact of these efforts on food security and agricultural growth in Nigeria, emphasizing the importance of continued support for farmers in the country.
