The Minister of Agriculture and Food Security, Sen Abubakar Kyari has said that the $500 million loan facility from the World Bank would accelerate development in the agriculture ecosystem in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda in the Agricultural sector.
The Minister made this known during the couresty visit by the World Bank delegation led by the Head, Agriculture Value Chains for Growth (AGROW PROJECT), Hardwick Ichale, in Abuja.
The Head, Department of Information, Ezeaja Ikemefuna, in a statement on Tuesday said that
Kyari stated that the World Bank’s $14 billion six year agri- connect initiative would address long-standing gaps in smallholder farming by improving connectivity across the entire agricultural value chain.
He added that the initiative aims to improve connectivity between farmers, processors, markets, and financial systems, ensuring stronger value chains, expanded agro-processing capacity, and improved rural livelihoods.
The Minister revealed that the programme would support farmer aggregation, market linkages, and the integration of micro, small, and Medium-Scale enterprises (MSMEs) into key agricultural value chains.
He stressed the importance of organised farmer participation, transparency, and effective oversight to guarantee accountability and maximise impact.
He reaffirmed that the intervention aligns with the strategic priorities of President Bola Ahmed Tinubu GCFR, particularly under the renewed national drive for food security, rural industrialisation, and job creation.
The Minister noted that Agri-Connect would complement ongoing Federal Government programmes, including the Special Agro-Industrial Processing Zones (SAPZs), to catalyse rural agro-industrial growth and expand opportunities for youth and women in agribusiness.
Earlier in his remarks, World Bank’s Head of the delegation , Hardwick Ichale said that Agriculture Value Chains for Growth (AGROW Project) would unlock Nigeria’s Agribusiness sector with job creation for youths and women, inclusivity and enhance productivity among others
Ichale revealed that the project would focus on specific value chains such as Rice,Maize, Soyabean, and Cassava.
