FG secures $134 million AfDB loan to boost seeds and grain production nationwide

The Federal Government has secured a $134 million loan from the African Development Bank (AfDB) to support farmers in enhancing seeds and grain production across the country.

This was disclosed by the Minister of Agriculture and Food Security, Sen. Abubakar Kyari, CON, during the flag-off of the 2024/2025 National Dry Season Farming in Calabar. He was joined by the Governor of Cross River State, Bassey Otu, who was represented by Deputy Governor Peter Odey.

The announcement was contained in a statement issued on Thursday by Eremah Anthonia (Mrs.), Chief Information Officer, For Director Information of the Ministry of Agriculture and Food Security.

“Federal Government has secured a loan facility of $134m from the African Development Bank (AfDB) to help farmers boost seeds and grain production in the country,” the statement read in part.  

The statement explained that the reintroduction of national dry season farming aims to boost year-round agricultural production, with the $134 million loan playing a pivotal role in ensuring national food security.

• The minister noted that the initiative falls under the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) Project, designed to drive sustainable agricultural development.
• Kyari further highlighted that the federal government had declared an emergency on food production to ensure Nigerians have easy access to quality, nutritious, and affordable food.
• He noted that the government also intends to leverage the agricultural sector for national economic revival by increasing the production of staple crops such as wheat, rice, maize, sorghum, soybean, and cassava during both dry and wet farming seasons.

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Kyari revealed that under phase one of the 2023/2024 dry season farming initiative, 107,429 wheat farmers received support, while 43,997 rice farmers benefited during the second phase.

Additionally, 192,095 farmers cultivating rice, maize, sorghum/millet, soybeans, and cassava were supported during the 2024 wet season across all 37 states, including the FCT.

• The minister highlighted Cross River State’s leadership among 16 states in wheat production, noting that over 3,000 wheat farmers from the state have been listed to benefit from support to boost their yields.
• He commended the state government’s dedication to wheat farming, which informed the federal government’s decision to partner with Cross River to launch the maiden wheat production project as part of the 2024/2025 dry season farming program.
• For the 2024/2025 dry season, the initiative aims to support 250,000 wheat farmers with subsidized agricultural inputs to cultivate 250,000 hectares, producing an estimated 750,000 metric tons of wheat.
• This output is expected to strengthen the nation’s food reserves, reduce reliance on imports, and boost domestic consumption.
• Additionally, the program targets 150,000 rice farmers in its second phase across all 37 states, including the FCT, with an expected yield of 450,000 metric tons.

The National Project Coordinator for the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP), Mr. Buba Ishaku, emphasized that the project will be implemented in two phases, providing farmers with quality seeds and grains.

The flag-off event drew key stakeholders, including international development partners, state commissioners of agriculture, and state permanent secretaries, underlining the collaborative effort to achieve national food security.

Source: Nairametrics