FG secures $134m loan from AfDB to boost production of rice, wheat

The federal government has secured a $134 million loan from the African Development Bank (AfDB) to boost the production of rice, wheat, and maize.

Abubakar Kyari, minister of agriculture and food security, announced the loan during the launch of the 2024/2025 national dry season farming in Cross River state.

Kyari also announced the wheat cultivation initiative under the national agricultural growth support scheme-agro pocket (NAGS-AP) project.

In a post on X on Thursday, he said President Bola Tinubu has placed a high priority on agriculture to drive economic recovery.

“I am delighted to be here in Cross River State for the official launch of the 2024/2025 National dry season farming and initiate the maiden wheat cultivation under the National Agricultural Growth Support Scheme-Agro Pocket (NAGS-AP) Project,” the minister said.

“This administration, led by our President Bola Ahmed Tinubu, GCFR, has placed a high priority on agriculture to drive economic recovery and ensure affordable food access for all Nigerians.

“In line with this vision, we secured a $134 million loan from the African Development Bank to boost productivity in key staple crops, including wheat, rice, and maize, for both dry and wet season farming.”

According to Kyari, the NAGS-AP programme has made significant strides, supporting thousands of farmers nationwide, with plans to provide subsidised agricultural inputs to 250,000 wheat farmers and 150,000 rice farmers for the season.

He said that given Cross River’s favourable conditions for wheat production, the federal government is collaborating with the state to enlist it as among the wheat-producing states, with 3,000 registered wheat farmers set to receive support there.

“To ensure quality and accountability, we have set rigorous standards for input suppliers, agro-dealers, and all involved stakeholders,” Kyari said.

“An ICT platform will further enable transparency and tracking throughout the distribution process. Additionally, security agencies have been integrated to safeguard the integrity of the program.”

The minister said in line with the government’s commitment to supporting farmers, a minimum guaranteed price for crops will be established, adding that it is aimed at stabilising farmers’ incomes and reducing reliance on imports.

Kyari expressed enthusiasm at launching the distribution of subsidised inputs for wheat farmers in Calabar, describing it as a significant step toward achieving food security and agricultural growth in Nigeria.