Nigeria secures US$134M from AfDB to boost production of staple crops

NIGERIA – The Federal Government of Nigeria has secured a loan facility of US$134M from the African Development Bank (AfDB) under the Policy Base Operation (PBO) to increase the production and productivity of staple foods in the country.

The move is part of the federal’s commitment to promote the production of staple food crops such as wheat, rice, maize, sorghum, soya beans and cassava during both dry and wet seasons farming.

Speaking during the NAGS-AP stakeholder review and preparatory meeting in Nasarawa,  the Permanent Secretary represented by the Director Planning and Policy Coordination, Mr. Tanimu Ibrahim noted that the Federal Government aims to chart a course forward that ensures robust and sustainable production of staple food commodities across board.

According to him, the goal of the National Agricultural Growth Scheme (NAGS) is to increase total food production to crash the continued rise in the prices of agricultural commodities and make them affordable to the average Nigerians.

He stated further that the project, aside supporting farmers with critical farm inputs for the production of the priority crops, will also provide institutional support for better performances and sustainability particularly in the areas of wheat seeds local production.

Concerns about food insecurity have been longstanding in Nigeria – Africa’s most-populous country, which has also been battling widespread insecurity for several years.

Last year, BBC News reported that president Bola Tinubu had ordered immediate action to curb rising food prices and ensure sustainable food security, a measure he described as a ‘food emergency.’

As a result, the president developed raft initiatives including using money saved by the recent removal of a fuel subsidy to provide fertilizer and grain to farmers in a bid to tackle rising food prices and shortages.

According to Mr. Tanimu, production exercise is a testament to the dedication and hard work of those of us involved in the management of the NAGS-AP Program.

“On the records, we achieved 97% redemption. However, we have come together here, not necessarily to celebrate our seeming success, but also to admit that a whole lot of inimical things have happened downstream.

“We are aware that round tripping has been rife. Farmers, agro-dealers, helpline staff, security agents have all had rogue elements in their ranks who sought to make ‘negative’ profit from this Program.

He added that the expanded scope reflects the federal’s commitment to diversifying agricultural portfolio and securing a robust and resilient food production system

This is in line with the President Tinubu administration’s resolve to drastically drive down the food inflation realities in the country, while enhancing the livelihoods of our smallholder farmers across the nation.

Furthermore, he charged the input producers’ fertilizers, seeds, agro-chemicals to ensure that the products they produce meet up with the prescribed set standards in terms of quantity and quality.

For all the latest grains industry news from Africa, the Middle East, and the World, subscribe to our weekly NEWSLETTERS, follow us on LinkedIn, and subscribe to our YouTube channel.

Newer Post

Thumbnail for Nigeria secures US$134M from AfDB to boost production of staple crops

India and the US join forces to promote ancient grains

Older Post

Thumbnail for Nigeria secures US$134M from AfDB to boost production of staple crops

Saudi’s Fourth Milling picks Riyad Capital to manage its IPO