World Bank Approves $500M for Nigeria's Agriculture

The World Bank has approved a $500 million loan through the International Development Association to support Nigeria's agricultural sector, focusing on smallholder farmers. The project, known as Agrow, aims to enhance food security, strengthen agricultural value chains, and create jobs across the country.

The approval date for the loan was disclosed on March 30, 2026, with the project scheduled to run from 2026 to 2032. The Agrow initiative will improve production, strengthen market linkages, and provide better access to quality inputs for smallholder farmers, who are currently facing challenges such as low productivity and climate shocks.

The project is expected to benefit millions of smallholder farmers and mobilize significant private investment, with an anticipated additional $220 million from the agribusiness sector. Mathew Verghis, the World Bank's country director for Nigeria, described the project as a major step towards transforming the agricultural sector and empowering smallholder farmers.