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    MarketForces Africa » MarketForces News » Food Security: FG secures $134m loan facility from AfDB -Minister

    Food Security: FG secures $134m loan facility from AfDB -Minister

    Ogochukwu NdubuisiBy Ogochukwu NdubuisiMay 28, 2025 News No Comments5 Mins Read
    Food Security FG secures $134m loan facility from AfDB -Minister
    Minister of Agriculture and Food Security, Sen. Abubakar Kyari
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    Food Security: FG secures $134m loan facility from AfDB -Minister

    The Federal Government says it has secured a loan facility of 134 million dollars from the African Development Bank (AfDB) to help farmers boost seeds and grain production in the country.

    The Minister of Agriculture and Food Security, Sen. 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, 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.

    He emphasised that the ministry’s presidential priority under the Renewed Hope Agenda was to boost agriculture to achieve food security, enhance infrastructure, and improve transportation as growth enablers. “We are also focusing on improving governance for effective service delivery,” he said.

     The minister also revealed that the ministry, in response to ginger blight disease in some parts of the country, had put in place an initiative for tackling ginger blight attack by disbursing N1.6 billion to support affected ginger farmers in Kaduna and Plateau States.

    Kyari said that a ginger master plan was developed to facilitate self-sufficiency and promote exports for foreign exchange earnings.

    He added that in response to a Presidential directive, the ministry released to the National Emergency Management Agency (NEMA) 42,000 metric tonnes of assorted food commodities from the Federal Government Strategic Food Reserve for distribution.

    He said the 42,000 metric tonnes of grains had been delivered to all the states, as well as 20 trailers of rice per state. He also said that the ministry carried out the fortification of crops with vitamin A micronutrients to enrich the content and health value of food commodities.

    On pest control, the minister said the ministry conducted an aerial control operation to mitigate trans- boundary pest challenges. “We supported 107,429 wheat farmers with inputs resulting in output of 474,628 metric tonnes,” he said. #Food Security: FG secures $134m loan facility from AfDB -Minister#

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    Ogochukwu Ndubuisi
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    Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.

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