World Bank Approves $500M for Nigeria's Agriculture

The World Bank has approved a $500 million credit through the International Development Association for Nigeria's agricultural sector, specifically targeting the enhancement of agricultural value chains. This initiative, named the Agrow project, aims to improve productivity among smallholder farmers, strengthen market linkages, and create jobs, thereby enhancing food security.

The project is scheduled to run from 2026 to 2032 and is expected to benefit millions of smallholder farmers while mobilizing significant private investment to increase yields across key crops such as rice, maize, cassava, and soybean. The project will also focus on improving agricultural research, expanding access to climate-resilient seeds, and establishing a national digital farmer registry.

The World Bank's Nigeria Country Director, Mathew Verghis, described the project as a major step towards transforming the agricultural sector, empowering smallholder farmers, and promoting private sector-led growth. The initiative aligns with Nigeria's priorities to boost agricultural productivity and create jobs.