Nigeria is set to accelerate development across its agricultural sector following a $500 million loan facility from the World Bank, aimed at strengthening value chains, expanding agro-processing, and improving rural livelihoods.
The announcement was made by Senator Abubakar Kyari, Minister of Agriculture and Food Security, during a courtesy visit by a World Bank delegation led by Hardwick Ichale, Head of Agriculture Value Chains for Growth (AGROW Project), at the ministry’s conference room in Abuja.
Senator Kyari explained that the loan is part of the six-year, $14 billion Agri-Connect initiative, which seeks to address persistent challenges in smallholder farming by enhancing linkages across Nigeria’s agricultural ecosystem. The project is designed to improve connectivity among farmers, processors, markets, and financial systems, creating stronger and more integrated value chains.
“The initiative will support farmer aggregation, improve market access, and integrate micro-, small, and medium-scale enterprises into key agricultural value chains,” Kyari said, adding that organised farmer participation, transparency, and effective oversight are critical to ensuring the success and accountability of the programme.
The minister noted that the Agri-Connect initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, particularly its focus on food security, rural industrialisation, and job creation. He highlighted that the programme would complement ongoing government initiatives such as Special Agro-Industrial Processing Zones (SAPZs), providing opportunities for youth and women to engage in agribusiness and drive rural economic growth.
Hardwick Ichale, representing the World Bank, emphasized that the Agriculture Value Chains for Growth (AGROW Project) aims to unlock Nigeria’s agribusiness potential by promoting productivity, inclusivity, and employment, especially for young people and women.
“The key purpose is to enable farmers to see farming as a business,” Ichale said, noting that the project will focus on strategic value chains including rice, maize, soybean, and cassava.
With this partnership, both the Nigerian government and the World Bank aim to transform smallholder agriculture into a commercially viable sector, boost agro-processing capabilities, and create a sustainable model for rural economic development across the country.
