African Development Bank Approves $200M for Nigeria's Agriculture

The African Development Bank has approved a $200 million loan to support climate-smart technology-driven agriculture in Nigeria. This funding aims to strengthen food security and boost agricultural productivity through the second phase of the Federal Government's National Agricultural Growth Scheme, known as Agro Pocket.

The project will expand access to quality inputs, modern technology, and data-driven farming practices nationwide. The loan is designed to build on earlier interventions by the bank and is expected to run for four years, beginning in March 2026.

It will directly support five key programs within Nigeria's national agricultural technology innovation policy framework, focusing on improving input access, strengthening value chains, and revitalizing extension services. The new loan emphasizes climate-resilient technology adoption in agriculture, which is crucial as the sector employs roughly 38% of the workforce and contributes a quarter of the country's gross domestic product.

However, the sector continues to face structural constraints that limit productivity and competitiveness.