$500m World Bank Loan to Unlock Nigeria's Agribusiness Value Chains — Agric Minister

News in Brief:

-World Bank’s Agri-Connect Initiative aims to strengthen Nigeria’s agricultural value chains.

-The project will focus on key crops, rice, maize, soybean, and cassava while expanding agro-processing, job creation, and market access.

The Minister of Agriculture and Food Security, Senator Abubakar Kyari, has said that the $500 million World Bank loan facility will accelerate agricultural development in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.

Kyari disclosed this during a courtesy visit by the World Bank delegation led by Hardwick Ichale, Head of the Agriculture Value Chains for Growth (AGROW) Project, at the Ministry’s headquarters in Abuja.

Initiative to Boost Value Chains

The Minister explained that the facility is part of the World Bank’s $14 billion, six-year Agri-Connect initiative, which seeks to bridge long-standing gaps in smallholder farming by improving connectivity across the agricultural value chain.

He noted that the initiative would strengthen linkages between farmers, processors, markets, and financial systems, ultimately enhancing productivity, agro-processing capacity, and rural livelihoods.

“The programme will support farmer aggregation, market linkages, and integration of MSMEs into key value chains,” Kyari stated. “Transparency, accountability, and effective oversight will be central to ensuring measurable impact.”

Kyari emphasised that the intervention aligns with President Tinubu’s priorities of food security, rural industrialisation, and job creation. He added that Agri-Connect complements existing federal programmes such as the Special Agro-Industrial Processing Zones (SAPZs), aimed at catalysing rural agribusiness and expanding opportunities for youth and women.

World Bank Reaffirms Support for Agribusiness Growth

In his remarks, Hardwick Ichale said the AGROW Project is designed to unlock Nigeria’s agribusiness potential by promoting inclusivity, productivity, and job creation.

He added that the project would focus on rice, maize, soybean, and cassava value chains, enabling farmers to adopt a more business-oriented approach to agriculture.

With the Agri-Connect initiative, Nigeria aims to strengthen the entire agriculture ecosystem — from production to processing — ensuring smallholder farmers and MSMEs play a more integrated role in driving food security and economic growth.