World Bank has approved a $500 million credit facility for Nigeria to support smallholder farmers and strengthen agricultural productivity across the country.
Gatekeepers News reports that the funding, provided through the International Development Association (IDA), will finance the Nigeria Sustainable Agricultural Value Chains for Growth (AGROW) project, aimed at improving food security, creating jobs, and boosting rural economies.
According to the World Bank, the initiative seeks to address longstanding challenges in Nigeria’s agriculture sector, including low productivity, poor access to quality inputs, climate shocks, and weak market linkages affecting smallholder farmers.
“Agriculture remains Nigeria’s largest source of employment, yet low productivity… and weak market linkages… have constrained its potential,” the bank said.
The AGROW project will support agribusinesses that source produce from smallholder farmers through a results-based matching grant scheme, focusing on value chains such as rice, maize, cassava, and soybeans.
It will also enhance post-harvest handling, agro-processing, and market access, while strengthening agricultural research and extension services. Farmers are expected to benefit from improved seeds, fertiliser systems, and digital advisory tools, including weather and climate information.
The World Bank added that the programme will introduce a national digital farm and farmer registry and promote private sector participation in agricultural inputs and investments.
Speaking on the development, the World Bank’s Country Director for Nigeria, Mathew Verghis, described the project as transformative.
“AGROW is a transformative step for Nigeria’s agriculture… empowering smallholder farmers… and strengthening food security in a sustainable way,” he said.
The six-year project, expected to run from 2026 to 2032, is projected to benefit up to one million smallholder farmers and attract about $220 million in private agribusiness investments.
