Nigeria's Food Security: FG secures $134mlm loan facility from AfDB — Minister
The Minister of Agriculture and Food Security, Senator Abubakar Kyari, made this known at the unveiling of the 2024/2025 National Dry Season Farming in Calabar.
Kyari explained that with the reintroduction of the national dry season farming to boost year-round agricultural production, the loan would be handy as well as guarantee national food security in the country.
He said that the initiative was under the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) Project.
He noted that the federal government had declared an emergency on food production to enable all Nigerians get easy access to quality and nutritional food at affordable rates.
The minister also said that the government plans on using the agricultural sector for national economic revival through increase in the production of some staple food crops such as wheat, rice, maize, sorghum, soybean, and cassava during both the dry and wet season farming.
He added that no fewer than 107,429 wheat farmers have been supported under phase 1 of the 2023/2024 dry season, and 43,997 rice farmers under the second phase of the 2023/2024 dry season.
He explained that recently, government supported 192,095 rice, maize, sorghum/millet, and soya bean and cassava farmers under the 2024 wet season across the 37 states, including the FCT.
He said that Cross River was leading 16 other states in wheat production, adding that more than 3000 wheat farmers have been listed to benefit from the support to grow the grain.
Kyari said this informed why the Federal Government was partnering with the state to kick-start the maiden wheat production and enlisting them among states commencing the current 2024/2025 dry season farming.
'In the 2024/2025 dry season farming, the project is targeted to support 250,000 wheat farmers across the wheat-producing states with subsidised agricultural inputs.
'250,000 hectares of land will be cultivated with an expected output of about 750,000 metric tonnes of wheat, which is to be added to the food reserve to reduce dependence on the importation of the product, and also increase domestic consumption.
'The programme will also provide support to 150,000 rice farmers under the second phase to cover all the 37 states, including the FCT, with an expected output of about 450,000 metric tonnes,' he said.
On the agriculture mechanisation programme, the minister disclosed that the Economic Council received a briefing and approved the Greener Hope Agric mechanisation consortium, which is a ten-year programme totalling 1 billion dollars in investments.
He said that the consortium was expected to set up 1000 agro centres with service providers across the country.
He also said that the centres were also expected to engage about 600,000 youths, providing 2000 tractors yearly for the next five years.
The minister further said that the government had commenced the sale of 30,000 metric tonnes of milled rice to Nigerians at subsidised rates of N40,000 per 50-kilogramme bag, adding that the exercise would be carried out across the country.
'It is expected that with the injection of 30,000 metric tonnes (1000 trucks of 30MT each of this important staple food into Nigeria's food balance sheet, it will not only crash the price of rice but also other close food substitutes and alternatives,' he said.
Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
11 hours ago
- Zawya
Deputy Finance Minister Inaugurates New Ghana Incentive-Based Risk-Sharing System for Agricultural Lending Ltd. (GIRSAL) Board
The Deputy Minister for Finance, Hon. Thomas Nyarko-Ampem, has inaugurated a new Governing Board for the Ghana Incentive-Based Risk-Sharing System for Agricultural Lending Ltd. (GIRSAL). He congratulated the board members and reminded them of GIRSAL's strategic role in transforming the agricultural sector. He also urged them to remain committed to delivering results, as agriculture remains central to government's development agenda. The Board Chairperson, Prof. Richard Jinks Bani, thanked President John Dramani Mahama for the nomination and assured the Minister that the board will work to make agriculture more inclusive. He noted that the members are prepared to serve with integrity and deliver on their mandate. Members of the GIRSAL Board: 1. Prof. Richard Jinks Bani – Chairperson 2. Mr. Nicholas Afrifa – Chief Executive Officer 3. Dr. Kwesi Korboe – Member 4. Ms. Alberta Akosa – Member 5. Mr. Agbesi Kwadzo Dzakpasu – Member 6. Mr. William Wilson Asbleke – Member 7. Ms. Faustina Effah-Boadi – Member Distributed by APO Group on behalf of Ministry of Finance - Republic of Ghana.
Zawya
12 hours ago
- Zawya
Africa50 Sets New Benchmark in Infrastructure Financing, Surpasses $1.4B in Managed Assets
Eight-Year Journey from Single Employee to 100-Strong Team Managing $8 Billion Portfolio Value Demonstrates Africa's Infrastructure Investment Potential. Africa50 symbolises the new Africa; an Africa that depends on itself, promotes cooperation between Africans, and builds shared prosperity, says President of Mozambique Africa50 ( the investment platform established by African governments and the African Development Bank ( said on Wednesday it has surpassed $1.4 billion in managed assets, marking an extraordinary transformation from one staff member to a continental powerhouse driving Africa's infrastructure revolution. The disclosure was made at the General Shareholders Meeting of the platform in Maputo, the capital of Mozambique, attended by the country's President, Daniel Chapo, President of the African Development Bank Group, Dr Akinwumi Adesina, and numerous dignitaries and representatives of development partners. President Chapo highlighted the shared vision that led the country to join Africa50 in 2024. 'Africa50 is a key partner to help us implement this vision [to become a reference country in logistics and power,' he said. 'We are transforming ideas into projects to provide employment for the youth and more revenues for the government to invest in economic, social, and sustainable development.' He commended the leadership of Dr Adesina, who is also Chairman of the Board of Africa50, and said: 'Africa50 symbolises the new Africa; an Africa that depends on itself, promotes cooperation between Africans and builds shared prosperity.' From humble beginnings to continental clout Dr Adesina told the gathering that the total value of Africa50's portfolio companies now exceeds $8 billion, underscoring the platform's pivotal role in addressing Africa's $170 billion annual infrastructure financing gap. "Within eight years, Africa50 has become a leader on infrastructure financing in Africa, demonstrating creativity and innovation that transforms how we approach continental development," the Bank President said. "From just one staff member when we started, Africa50 now employs 100 exceptional professionals and serves 37 shareholders across 33 countries and four institutions." The platform's remarkable growth is reflected in its Africa Infrastructure Acceleration Fund, which successfully mobilized $275 million from over 20 African institutional investors, including sovereign wealth funds, pension funds, and insurance companies. This, the Africa50 Chairman said, represents the most substantial institutional investor confidence ever in Africa's infrastructure opportunities. Alain Ebobissé, CEO of Africa50, said, 'The truth is this: the solutions to Africa's infrastructure gap are already before us. Africa can and must lead the efforts to close the infrastructure gap in our continent, working with our non-African partners. Africa50 was built for moments like these: We are agile. We are responsive. We are focused on achieving results with speed and at scale.' The 2025 General Shareholders Meeting also provided Africa50 an opportunity to formalize its growing influence through two strategic Memorandums of Understanding: MOU with Electricidade de Mozambique for the development of three transmission lines under an Independent Power Transmission (IPT) framework. This will help support the government's ambition to achieve universal electricity access by 2030 and become a significant exporter of power across the Southern African Development Community. MOU with the Ministry of Communications and Digital Transformation, to build a new data centre facility in Maputo and modernize the existing one. Africa50 also sealed two significant pan-African deals, including the first close of the Alliance for Green Infrastructure in Africa (AGIA), an initiative envisioned by Dr. Akinwumi Adesina. The AGIA deal anchors the first close of $115 million for Africa's leading green infrastructure initiative. In addition, it signed a framework agreement with the African Continental Free Trade Agreement (AfCFTA) Secretariat for the development and financing of trade-enabling infrastructure to boost intra-African trade. African Development Bank and Africa50 footprints in Mozambique Adesina said the investments by Africa50 complement broader support from the African Development Bank, that has delivered $1.6 billion to Mozambique over the past decade, representing 41% of total Bank financing in the 48 years since the Bank began financing operations in the country. The investment includes $400 million in senior debt financing for the country's flagship $20 billion Liquified Natural Gas (LNG) plant project in Cabo Delgado, as well as the $34 million Mozambique Energy for All Project, which has connected over 45,500 households to electricity. The Bank's energy sector investments have helped to double Mozambique's national energy access rate from 30% in 2018 to 60% in 2024. The Bank has also supported agricultural transformation through special agro-industrial processing zones, including the Pemba-Lichinga corridor, while financing critical transport infrastructure along the Nacala and Beira corridors that enhance regional trade connectivity for the African Continental Free Trade Area. Africa50's investments in Mozambique include the following: Equity investment in the 175 MW Central Termica de Ressano Garcia (CTRG) gas-fired power plant Finalization of project development agreements for three transformation lines under an independent power transmission framework, partnering with Power Grid and Electricidade de Moçambique (EDM) Data Center Facility in Maputo City Looking ahead Adesina, who is preparing to conclude his tenure as President of the African Development Bank Group and Chairman of Africa50 on September 1, 2025, emphasized the Bank's robust transformation in the ten years since he became President. This includes the Bank receiving a historic increase in its capital from $93 billion to $318 billion, its High 5 development priorities delivering positive impact on 565 million people, maintaining its AAA rating, being ranked globally as the best multilateral financing institution, and as the most transparent development finance institution in the world. In addition, the African Investment Forum, launched in 2018 by the Bank and eight other institutions to accelerate Africa's economic transformation through strategic investment, has since mobilized over $225 billion in investment interest. "To close Africa's infrastructure gap requires that we build and scale up partnerships—joining our hands around the Baobab tree of infrastructure opportunities," Adesina said. "Together we are stronger, and Africa50 represents the strongest platform for unlocking global capital for African development." Looking ahead, he affirmed continued commitment to the continent: "I will not be stepping back, I will be stepping forward in our collective drive to unlock global capital for Africa." Speech: Distributed by APO Group on behalf of African Development Bank Group (AfDB). About the African Development Bank Group: The African Development Bank Group is Africa's premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information:
Zawya
12 hours ago
- Zawya
Safer borders, stronger trade for West African Women
Every day in West Africa, thousands of women walk through border posts carrying produce like cassava, tomatoes, or maize to sell in neighbouring countries. They are unrecognized but vital parts of the region's food systems and economies. But many face harassment at checkpoints, along with demands for bribes. Border processes may not be in a language that they speak. The border crossings themselves have poor infrastructure. And women often have limited access to banking or other financial services. Coordinated efforts are underway to tackle these challenges within the Economic Community of West African States (ECOWAS). Forty regional officials met from 24 to 26 February 2025 in Abidjan, Côte d'Ivoire, to endorse a slate of solutions, including: establishing legal clinics at border posts providing gender-sensitivity training for customs and transport officials launching simplified declaration systems for small traders deploying visual, mobile-accessible tools to help women comply with trade procedures engaging men as allies 'We need to ensure regional trade policy becomes a tool for inclusive growth, where women are not just participants, but empowered leaders,' said Sandra Oulate, Director of the ECOWAS Gender Development Centre (EGDC). The International Trade Centre (ITC) is working with ECOWAS and the main German development agency GIZ on the ECOWAS Agricultural Trade (EAT) programme. The goal is implement solutions like these to make cross-border trade safer, simpler, and more inclusive for women. The workshop brought together representatives from ECOWAS, national gender and agriculture focal points, chambers of commerce, and development partners including ITC, Women in Law and Development in Africa (WILDAF), West Africa Association for Cross-Border Trade, in Agro-forestry-pastoral, fisheries products and Food (WACTAF), and the West African Food Systems Resilience Programme. Salimata Thiam, an EGDC representative, said participants were encouraged to 'identify concrete actions that could be implemented within the framework of the EAT project to boost the role of women in regional trade'. ITC presented several tools under development: a new regional trade guide for women, a policy paper on women in agrifood trade, and findings from gender-sensitive border assessments to support informed policymaking. Distributed by APO Group on behalf of International Trade Centre.
